Good Morning! If you are considering buying a house from a family member I have something for you. I just put up a video on my Youtube channel of how to structure a purchase / sale transaction with a family member. It’s a unique transaction, and this video shows you how to take advantage of…
Good Morning! If you have an FHA loan that means your mortgage insurance is permanent. It will always be part of your payment. The way property has appreciated in the past year – it’s probably a good idea to see if you have 20% equity in your house. If you feel you have a 20%…
Good Morning! I had this situation come up again last week, and I wanted to address it again with you… Did you realize that when buying a house from an immediate family member – the buyer doesn’t have to come out of pocket for a down payment? (As long as it’s an owner occupied residence…
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 it’s even better if you can keep…
Good Morning! It’s very hard to get a Conventional loan approved with a debt to income ratio higher than 45%. I wanted to give you one little trick you can use to help out with your debt to income ratio. …Use lender paid mortgage insurance – have your mortgage lender pay your mortgage insurance in…
Good Morning! I get asked about how a no cost refinance works sometimes. So, I made a video for you to show you exactly how it works. Here ya go… https://youtu.be/17odpcsyGGA That’s it for today! Thanks for reading! Brett Get Pre Approved For A Loan Here My Previous Blog
Good Morning! I get asked about “Deed In Lieu” sometimes. A Deed In Lieu is where you beat the mortgage company to the punch… …and give the mortgage company back the house before they have a chance to foreclose. People ask me how a Deed In Lieu would affect their credit. I tell them that…
Good Morning! Here’s a USDA tip for you… One of the things to keep in mind is that USDA has family income caps. In other words if you make too much money you won’t qualify for a USDA loan. Here is the link to check the income for your area… Important: USDA goes by total…
Good Morning! 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 a simple breakdown of your out of the out of…
Good Morning! If you get bonus income please be aware of how the mortgage company will treat that income when you try to get a mortgage. 1) We can’t use bonus income or overtime income unless you can prove you have been receiving this income for 2 years. 2) The employer has to indicate that…