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…
Good Morning! FHA gift questions come up often. This is where the buyer would get a gift to help in purchasing a home. I wanted to give you the rules on FHA gift giving. Here ya go… Acceptable gift donors for FHA loans… 1) Borrower’s relative. 2) Borrower’s employer or labor union. 3) A close…
Good Morning! When it comes to bonus income there are three things to be aware of when you are getting 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 overtime…
Good Morning! Hope you had a good weekend! Wanted to give you a few simple ways to improve your credit scores… 1) Did you know a single credit card late payment can ding your score by as much as 60 points? a) Helpful strategy – set your payments up on autopay. 2) The quickest way…
Good Morning! Did you know that we do piggy back loans up to 97% loan to value ratio? A piggy back loan is where we do two loans – one at 80%, and a second up to 17% simultaneously. You would put down 3% in this scenario, and we would finance 97%. The advantage to…
Good Morning! 30 year mortgage, or 15 year mortgage? Here’s something to consider… It takes 19 years and 4 months to pay your principle down by half on a 30 year amortization. Recommended action… If you can handle a slightly higher mortgage payment it’s a smart play to go with a 15 year mortgage! That’s…
Good Morning! Hope you had a good weekend! The other day I had a borrower ask me if they could apply for a 30 year mortgage even though they were 82 years old. I can see why they asked this question. …The odds are they may not be around for another 30 years. Just so…