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! Have you been told that your credit is good enough to get a loan, but your debt to income ratio is too high? In other words, you either need more income or fewer bills. Here is one possible solution to that… A non-occupying co-borrower. …This would be someone that goes on the loan…
Good Morning! I have many people apply for mortgages that have recently changed jobs. Here are a few things to keep in mind if you or someone you know is about to change jobs and apply for a mortgage… The underwriter will want to see your first pay check at the new job at a…
Good Morning! Have you ever thought about adding a pool or outdoor kitchen/grill/patio? Did you know we have programs that would allow you to put in a pool / outdoor kitchen/ grill/patio? We do! This can be done either as a purchase/add-on, or as a refinance of your existing home. This program requires a 620…
Good Morning! You can get a gift to help with the down payment or closing costs on a Conventional loan. There are restrictions on who can give you a gift. Here is the acceptable list of who can give you a gift… Relative, defined as the borrower’s spouse, child or another dependent, or by any…
Good Morning! Hope you had a good weekend! Did you know we can do VA loans with credit scores under 500? We can! Here are some of the basic things we look for with manual underwritten VA loans… 1) NO Foreclosure or BK in last 2 years. 2) No Derogatory credit in the last 2…
Good Morning! I wanted to alert you to a 1% down Conventional loan we have. You’ll need a 700 credit score. Max debt to income ratio of 43%. The product is also available with no Mortgage Insurance. If you are interested in this product please give me a call or shoot me an email. That’s…
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.…