Good Morning! Often when you get divorced and once spouse keeps the house, per the terms of the divorce you must refinance your home to get your Ex spouse off the house and get them their share of the equity. The problem is – you have been told by a loan officer that they can’t…
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’s doesn’t help pay down the balance of the loan.…
Good Morning! Good news – FHA loan limits are going up in most counties. For instance, in Dallas county the max FHA loan for 2020 is $404,800. This is great news! More people will be able to qualify for homes, due to FHA being more flexible on credit scores and debt to income ratios. To…
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! Can you believe it’s already December? Christmas will be here before you know it. I hope you get to spend time with those you love, and get to put alot of memories into your memory bank. Reminder – property tax bills are due at the end of January. If you have a non…
Good Morning! I have good news – Fannie Mae is raising their max loan amounts for most counties in the US to $510,400. The reason this is good news is the rates are lower, and the down payments are lower on Conventional loans than Jumbo loans. Before, if you wanted a 510k loan amount you…
Good Morning! I hope you had a good weekend, and will have a great Thanksgiving week! Since it’s Thanksgiving – I thought I would give you some fun facts acout Thanksgiving… – The first Thanksgiving was celebrated in 1621 over a three day harvest festival. It included 50 Pilgrims, 90 Wampanoag Indians, and lasted three…
Good Morning! I wanted to give you a productivity tip today. It’s an add on to Gmail that I use alot. It’s called Boomerang. You can lean about it here… https://www.boomeranggmail.com/ If you get an email that requires some form of action on your part – but you don’t have time to do it…
Good Morning! What do you do if you are in the process of applying for a loan and you have filed an extension on your taxes? (assuming your loan officer is asking for tax returns for underwriting) Your loan officer asks you for your most recent tax return, but you can’t give it to him…
Good Morning! Mortgage rates have been rising. October was bad, and November hasn’t been great so far. So, if you were considering refinancing – I would act now. The Fed Chair Powell is set to give testimony today – so depending on what he says it could impact the market further. We’ll keep an eye…