Good Morning! If you have applied for a mortgage, and been told you don’t qualify – don’t despair. Instead take control of your situation, and make a plan to get a mortgage. 1) Isolate the reason you can’t get a mortgage now. Your loan office should be able to tell you this. 2) Make a…
Good Morning! Want to buy a nice home in the country or outlying suburb with no money down? Here’s a program that might work for you… It’s called USDA, and here are some details on this program… -Up to 100% of the Appraised Value – Total LTV of 102% – -Difference of sales price and…
Good Morning! I wanted to spotlight a couple of product options… 1) You can still get rates in the twos on Texas Home Equity Cash Out loans. So, if you have been thinking about consolidating some debt, or adding on to your home – it’s still a great time to do this. 2) We are…
Good Morning! I hope you guys had a good weekend! I wanted to give you a real life example of how to purchase a house with a Reverse Mortgage. These borrowers were recently retired, and now living on a fixed income. They owned their home free and clear, and lived in a small town not…
Good Morning! Few product bullet points for you this morning… 1) We are doing FHA loans down to 580 credit scores right now, so if you want to buy a house and your credit is on the low side – this might be an option for you. 2) We are getting one day approvals on…
Good Morning! I had this situation come up again last week… Advice: If you enter into a lease option agreement don’t give cash for the option money. The reason is when you try to buy the house down the road you will have to prove you gave the option money to get credit for it.…
Good Morning! I get asked this question a lot by clients who are buying houses… …”Can we just roll closing costs into the loan?” The short answer… No. You can do it with no problem on a refinance, but not a purchase loan. …but there is an indirect way to do it on a purchase…
Good Morning! I wanted to let you know that we are seeing one day underwriting approvals on Conventional, VA, and FHA loans. So, if you currently are in need of a purchase loan, or just want to get fully pre approved before you go house shopping (smart idea), then contact our office, and let us…
Good Morning! Tax season is coming up, and I wanted to make you aware of a deduction that can be problematic if you are trying to get a mortgage. If you have a W-2 job, and you are considering getting a mortgage here’s something to keep in mind as tax season approaches… The deductions you…
Good Morning! FHFA (Fannie Mae’s and Freddie Mac’s conservator) announced March 10 that they are limiting new loans secured by second homes or investment properties to 7% of the overall loans they purchase (roughly HALF their historic levels!), effective April 1. What does this mean to borrowers seeking investment/2nd home mortgages? Many mortgage lenders have…