I’ve written about this topic before, but I was asked about it again yesterday, so I thought I would touch on it again here. If you are buying a house that needs minor repairs – but the seller refuses to do them – what do you do? This situation happens a lot, especially on…
I wanted you to remind you of what a great program Fannie Mae’s HomePath is. This is a program Fannie Mae has created for Fannie Mae owned property. It allows a low down payment and flexible mortgage terms. Here are some of the great features of this loan… 1) Only 3% down payment. …and, this…
A while back I posted problem / solution point about how you should make your mortgage company has more than one underwriting option. Here was the original post: http://berkshirelending.com/2015/12/02/make-sure-your-mortgage-company-has-this/ At that time I had a borrower contact me that had seen the post, and was having trouble with his then current mortgage company. I ended…
Problem – Solution… Are you unable to refinance your first mortgage because your second lien holder refuses to subordinate their lien position? …if so, I have a solution for you. I can refinance your first mortgage, and I don’t need a resubordination agreement signed by the second lien holder. Be aware that you don’t need…
If you are a veteran and eligible you have access to the best mortgage product in the market place… A VA loan. Here are the nuts and bolts of how a VA loan works… VA purchase loans allow a qualified borrower to buy a house with no down payment. This is one of the very…
Before you go out house hunting make sure you have enough money available to get your house closed. …I know it sounds simple, but many people don’t realize the amount of funds they will need available to get into a house. Here is a simple breakdown of your out of the out of pocket costs…
Did you know we have Jumbo products that go down to 660 credit scores? We do! For a 660 credit score you would be looking at a max loan to value ratio of 70%, a max debt to income ratio of 40%, and you would need 36 months of reserves. Keep in mind, this isn’t…
No mortgage stuff today. Some days more than others you realize how quickly life can be gone. My former father in law for many years died yesterday in a murder / suicide. Shocking and sad. My boys lost their grandpa. I grieve for them. Don’t hesitate to tell the people you love that you love…
Have you been out of work, and now you are working again? …and, now you would like 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 are just a few main guidelines…
I have people ask me about no cost refinances. I wanted to take a minute and tell you exactly how a no cost refinance works. There are two pools of funds you have to address when you refinance… 1) Closing costs. 2) Pre paids. (taxes, interest, and insurance) A no cost refinance will cover your…