If you have a W-2 job, and you are considering getting a mortgage here’s something to keep in mind as tax season approaches… The deductions you take on Schedule A for “unreimbursed job expenses” will come out of your adjusted gross income as a direct deduction off your income. This deduction would be things like…
Fannie Mae used to have a 97% loan product. Then they got rid of it. Now they have brought it back. Effective December 13, 2014 Fannie Mae re-introduced the 97% loan product. This is a lown down payment alternative to FHA. Just wanted ya to know… That’s it for today! Have a good day today!…
I’ve touched on this before, but I think it’s worth repeating… 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…
As mortgage rates have been dropping, home values have been climbing. Many homeowners now find themselves with a little bit of equity. This creates an opportunity to refinance out of low down FHA loans. By refinancing out of an FHA loan you can many times either eliminate the FHA MI, or at least lower it…
This is a good time of the year to refinance because your taxes are getting paid about now. …We don’t have to pre-fund your escrow account with a lot of taxes. I wanted to take a minute and tell you exactly how a no cost refinance works. There are two pools of funds you…
– Did you know we can accept debt to income ratios over 55% on a VA loan? …Many companies will stop at 45% or 50%. …Just something to keep in mind. – Did you know we can do USDA loans down to 560 scores? …Yep! Hope you had a good Thanksgiving holiday! That’s it for…
People get turned down for loans every day because their debt to income ratio is too high. Some mortgage companies max out their debt to income ratio at 45%. …Some go to 50%. I wanted you to know that I have NO LIMIT on a back end debt to income ratio. …I can do 55%…
If you buy a house with cash, and suddenly need your cash back – can you get a cash out loan right away? Yes! Before 2011 you couldn’t. …you had to wait 6 months after purchase, but now you can. Both Fannie Mae and Freddie Mac have a program that will allow all cash homebuyers…
I ran into an issue with this topic on a loan from last week, and wanted to touch on it with you… If you are trying to purchase a house with an FHA loan – and you are using part time job income, be aware of this… FHA will want to see that you have…
I was going through some marketing letters I have written for Realtors the other day. I found this letter. It’s the introduction letter in a series of three letters I use to market to Realtors. I want to share it with you in this post because I feel it explains what not only Realtors, but…