Hello! I wanted to clear up a common misconception about Reverse Mortgages. Please watch this very short video I just made explaining how Reverse Mortgages are more flexible than you might think… http://somup.com/c3f1lJO67W That’s it for today! Have a great day! Brett Get Pre Approved For A Loan Here My Previous Blog
Hello! Did you know we have a loan program for Foreign Nationals? A Foreign National is someone who is neither a US Citizen, or a permanent resident. Here are some aspects of the Foreign National program… 70% LTV for Second homes & Investment Properties Purchases ( 1 year full doc or asset depletion) 65%…
Good Morning! If you purchased a home using your own cash, and now would like to pull your cash back out – we can do that. This type of loan is called ‘delayed financing’. …and, you can get your cash back out of the house. In fact, we do these types of cash out loans…
Hello! Here are two quick credit tips for you… 1) 30% of your score is made up of the ratio between your available credit vs your actual balances on revolving credit accounts (like credit cards). You don’t want to charge these accounts over 50% of the available balance, and its even better if you can…
Hello! We want to be able to use your bonus income to help you get a mortgage. However, here are three big guidelines to be aware of for us to be able to count your bonus income: 1) We can’t use bonus income or overtime income unless you can prove you have been receiving this…
Hello! I wanted to address the two most common questions that I get regarding reverse mortgages… Question: What happens if I die? Will the lender be taking my house? Answer: No. After you pass away, your heirs may pay the loan balance in full with cash or by refinancing the debt and they can…
Good Morning! There are five different possibilities as far as who can pay your closing costs on a purchase loan. I’ll go through each one here… 1) You. …You are the borrower and you can pay these expenses yourself. 2) The seller. It’s a seller’s market right now, so you most likely won’t get the…
Hello! Wanted to make sure you were aware we have Down Payment Assistance grants for FHA loans. The minimum down payment on an FHA loan is 3.5%. The grant covers the 3.5% down payment. Here’s some things you should know about qualifying for it… Credit: You need at least a 620 credit score. Maximum…
Good Morning! I’ve covered this before, but I think it’s worth repeating… Before you go out house hunting make sure you have enough money available to get your house closed. …I know it sounds simple, but many people don’t realize the amount of funds they will need available to get into a house. Here is…
Hello! Did you know there is a 3% down Conventional loan for first time home buyers? Here are some of the important features of this product… 1) Owner-occupied primary residence only. 2) Minimum 620 FICO score. 3) 3% down payment can be a gift. 4) 1-unit attached and detached single family residence, attached and detached…