Good Morning! When it comes to conventional loans there’s Fannie Mae and Freddie Mac, and basically, that’s it. Here are some differences between the two that few know about… 1) Lower credit score and some credit dings? Try Fannie Mae. Fannie may now go up to 50% back-end dti on a case by case basis…
Good Morning! I touch on this from time to time, but it’s important so I want to revisit it… One of the most important things you will have to do when you apply for a loan is to show that you have the money for the down payment. This is called sourcing in the…
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! For you Doctors out there… We have a loan just for you. The advantage of the doctor loan is that you can get a bigger loan at a higher loan to value ratio than people who aren’t doctors. A normal conventional loan maxes out at 453k in Texas. A doctor loan can go…
Good morning! If you are considering a USDA loan there are two things you should be aware of… 1) There are geographic restrictions. Not every area is eligible for USDA financing. The best thing to do is enter the address of the home or area you are interested in and see if it’s eligible for…
Good morning! If you have recently been out of work, and now you are working again – here’s what you need to know 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…
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…
I sent this to you about a year ago, but I wanted to get it to you again. It’s a Special Report on how to purchase a home with a Reverse Mortgage. This Report gives you three real-life examples of exactly how others used this unique program to buy their dream homes. You’ll also learn…
If you need more cash to finalize a real estate transaction and decide to sell an asset, such as a boat for example, here’s how to do it, and properly document for your mortgage company… You must create a bill of sale reflecting the date of sale, an asset to be sold, and the sales…
Good Morning! Here’s a nugget for those of you that owe money to the IRS… Did you know that if you have a monthly payment plan with the IRS we can include the monthly payment in your debt to income ratio as if it were any other debt? …so, it’s possible to get a mortgage…