I wanted to take a minute and feature the USDA loan program. If you are looking for a home in the outer suburbs or in a rural area make sure your realtor knows about this great USDA 100% financing program. -Up to 100% of the Appraised Value – Total LTV of 102% – -No Down…
I want to show you how to roll repairs into a purchase price. I’ve touched on this subject from time to time. If you are buying a house that needs minor repairs – but the seller refuses to do them – what do you do? This situation happens a lot, especially on bank owned homes.…
It’s true that mortgage rates are higher than they were a year ago. However, the real estate market has also changed over the past year. Consider this trend for buying a house a year ago vs today… 1 Year Ago… Listing price: $450,000 Sales price: $500,000 10% Down 4.5% Rate…
FHA gift questions come up often. I wanted to give you the rules on FHA gift giving. Here ya go… Acceptable gift donors for FHA loans… 1) Borrower’s relatives. 2) Borrower’s employer or labor union. 3) A close friend with a clearly defined and documented interest in the borrower. 4) A charitable organization. 5) A…
Hello! We are a full service mortgage lender. This means we provide a broad spectrum of loan options to help you get what you want. We have the lowest rates on Conventional, Jumbo, and Government loan products, but we also have other products to help you if you don’t “fit” into the box of a…
Hello! I have many people apply for mortgages that have recently changed jobs. Here are a few things to keep in mind if you or someone you know is about to change jobs and apply for a mortgage… The underwriter will want to see your first paycheck at the new job at a minimum, and…
Hello! Thanksgiving is next week. Thought I would get a head start on the Thanksgiving talk… Here’s five things you may not have known about thanksgiving: 1) Historians have no record of turkey being eaten at the first Thanksgiving. 2) Benjamin Franklin wanted the turkey as the national bird. 3) Snoopy has made…
Hello! I’ve written about this before, but we have more and more people passing the age 62 threshold, so I wanted to show you how to buy a house with a reverse mortgage. I had a borrower that was recently retired, and now living on a fixed income. They owned their home free and clear,…
Hello! The Alternative Doc mortgage market continues to grow. These are loans for people that can’t prove their income via the normal Tax Returns or pay stubs. Here is a brief summary of how some of these loans work… Option 1: Bank statement loans. Very simply we take the aggregate deposits of your bank statements…
Hello! Did you know even if you have “challenged” credit you can still get a low down payment loan to buy a house with FHA? We can do down payments as low as 3.5% down to a 580 credit score! And, we have several down payment assistance programs to help you too. So, if you…