I hope you had a great weekend! I wanted to give you a brief updated summary of various loan products and the minimum down payment for each… Loan Programs… VA loan: No down payment necessary. No monthly MI. This is the best loan going if you can qualify for it. USDA: No down payment necessary.…
FHA just announced they lowered their monthly MIP effective on closing/disbursement dates on or after January 27, 2017. The FHA MIP dropped 25bps in most cases and even more in some other situations. This is good news! Not only will you save money, but more people will be able to qualify for FHA loans now.…
Property taxes are considered late if not paid by the end of January. 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 the money, but…
So, my office flooded yesterday. Pipe burst in wall next to my office. Entire first floor of my building – ankle deep water. (My office is on the first floor) Surprisingly, I’m not that upset about it. …I’ve decided to look on the bright side. I get to work from home for a week while…
Did you know that Conventional loans will accept mixed use properties? …such as beauty shops, doctor’s office, small grocery, etc. as long as the following guidelines are met. – Property must be a 1 unit property that the borrower occupies as his or her principal residence. – The mix use of the property must represent…
I don’t talk alot about Jumbo loan programs, but I wanted to tell you about a great Jumbo program that we have. …it’s called Jumbo Advantage. Here are some of the important elements of this loan… 1) Loan amounts up to $2,000,000. 2) Credit score as low as 661. 3) Mortgage insurance not required. 4)…
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%. 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 it for today!…
The maximum baseline conforming loan limit is increasing from 417k to $424,100 in 2017. The max conforming loan has been $417k since 2006. Home prices were 1.7% higher in the third quarter of 2016 than during the same period in 2007. This is according to Federal Housing Finance Agency’s Home Price Index. The increase to…
Friday saw worsening in the bond markets, which has negatively affected interest rates. The last time rates went this high was July of 2015. The speculation is that investors don’t want to hold long positions with bonds out of fear of inflation. …or, in other words they fear inflation may occur under new economic policies…
I’ve written alot of Reports over the years. I had someone ask me for the No Money Down Report the other day and I wanted to make the report available to you again here… How To Buy A House With No Money Down, Have A Super Low Rate, And Be In The Area You Want.…