Good Morning! I’ve written about this before, but I think it’s worth touching on again. If you are wanting to purchase a home, but you aren’t able to qualify now – here’s what you need to do… 1) Isolate the reason you can’t get a mortgage now. (We can do this for you). 2) Make…
Good Morning! I want to give you a solution to a problem I see every day. Disputed accounts. Usually when I see someone with alot of disputed credit accounts its because a borrower has hired a company to try to “improve” their credit scores. Often they are surprised to learn when they apply for a…
Good Morning! I wanted to quickly go over the waiting period various loan programs have for Foreclosure. FHA – 3 years from completion date. Exceptions with extenuating circumstances are allowed. VA – 2 years from completion date with an automated system refer. Fannie Mae – 7 years from completion date, or if you can get…
Good Morning! Here are three things you need to be aware of for us to use your bonus income 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 the bonus or…
Good Morning! If you have a conventional loan, and your loan to value ratio is over 80% – you will be paying monthly mortgage insurance to the lender. No one likes paying monthly mortgage insurance. It’s extra money added to your payment every month, and it doesn’t help pay down the balance of the loan.…
Good Morning! Have you been out of work, and now you are working again? …and, you would like to buy a house? I wanted to go over the FHA guidelines with you on a borrower returning to work in case you or someone you know is in this situation… There are just a few main…
Good Morning! Long term Treasury yields have been trending higher since August. The Fed has recently showed a preference for shorter term paper, which has accelerated the sell off of longer term yields. Mortgage rates have been ignoring this for the most part, but yesterday mortgage rates rose sharply. Will continue to watch this for…
Good Morning! Most of the time I talk about mortgage information in this blog post, but every now and then I’ll tell you something about me, or something else not having to do with mortgages. Today is one of those days. I wanted to let you know I wrote a book. It’s called Density, and…
Good Morning! When Covid hit the Jumbo market basically disappeared for a while. It’s coming back now. Not where it was pre-Covid, but getting there. We are now doing cash out Jumbo loans with rates as low as in the lower 2’s. So, if you need a Jumbo cash out loan – reach out, and…
Good Morning! I want to show you one way to roll repairs into a purchase price. If you are buying a house that needs minor repairs – but the seller refuses to do them – what do you do? This situation comes up from time to time. The simple answer is to use an escrow…