Good Morning! I want to go over the VA guidelines for Foreclosure, and Bankruptcy. Here ya go… VA Short Sale Deed-In-Lieu of Foreclosure Foreclosure: 2 years from completion date If extenuating circumstances exist – 12 months from completion date with re-established credit Note: If the occurrence was on a VA loan, the veteran may not…
Good Morning! Since today is Halloween I’ll dispense with mortgage stuff for today. …Instead, here is the history of the Jack-‘o-lantern. According to the History Channel… The legend is of a man named Jack. Jack invited the devil for a drink. Jack did not want to pay for his drink, so he made a deal…
Good Morning! This is the time of year counties are sending their property tax bills out. There are two issues I see every year with regard to property taxes. …Issues that put people in tough spots. 1) Some people just don’t have the money saved up to pay their property taxes. …They might have had…
Good Morning! Sometimes I like to spotlight a particular product we offer. Today it’s a high loan to value Jumbo Loan. We have a 95% loan to value Jumbo loan up to $1,500,000! It’s unusual to find such a low down payment on such a high loan amount. This product requires a 720 credit score.…
Good Morning! If you are a renter how do you pay your rent? Would you like to purchase a home someday? If so, please keep this in mind… How you pay your rent is IMPORTANT! When you apply for a mortgage the underwriter will most likely want you to be able to prove you paid…
Good Morning! I wanted to touch on when gifts are allowed (and not allowed) on FHA loans as well. Here’s who can’t give you a gift on an FHA loan… The gift donor may not be a person or entity with an interest in the sale of the property, such as the seller, real estate…
Good Morning! Did you know we do Jumbo Cash Out loans for Texas owner occupied homes with credit scores down to 660? …And, at 80% loan to value ratio! When you need a Jumbo Cash Out loan most lenders will cut you off if you have less than a 700 credit score. Not us. We…
Good Morning! One of the most common questions I get from borrowers is “How much will I have to put down to get a mortgage?” Here are your minimum down payment options on the loan products currently available in the market place. Loan Programs… VA loan: No down payment necessary. No monthly MI. This is…
Good Morning! Have you ever wondered how credit affects your mortgage payment? Most people know your credit affects the rate you get on your loan. …and, your credit can even effect the amount you pay for Home Owners Insurance. However, there is another part of your payment that your credit also effects. …Your mortgage insurance…
Good Morning! Did you know we have a Conventional loan product with just 3% down? …and, you only need a 620 credit score to get it. It’s a great product to use when purchasing a home! One thing to keep in mind on this program is the maximum seller help (with closing costs and prepaids)…