If you owe more than your home is worth, and your in a loan you would like to refinance – this may be an option for you. HARP 2 Here are the main criteria for the HARP program… 1) The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae. 2) The mortgage…
When you buy a house there are three sets of costs you will incur (other than your down payment)… 1) Closing costs. These are mortgage company fees, title fees, appraisal, survey, recording fees, etc. Typically these fees will add up to around 1% to 2% of a loan. 2) Prepaid taxes. For a purchase loan…
I’m going to show you an easy way to buy the home of your dreams with no money out of pocket on a little used low interest government insured loan. …and, it’s not hard to qualify! This Post is about our SELECT RD loan. It’s a government sponsored loan that many people just don’t know…
A common question I get is what minimum credit scores are needed for various loan programs. I going to give you a quick guide for minimum credit scores on each program. The mortgage industry is a very dynamic industry. …the rules change almost daily. …so please check in with me when you get serious about…
Have you ever wondered how credit affects your mortgage payment? Most people know your credit affects the rate you get on your loan. …and, your credit can even effect the amount you pay for Home Owners Insurance. However, there is another part of your payment that your credit also effects. …Your mortgage insurance payment on…
If you or someone you know is at least 62 years old you have some amazing home buying options… Texas finally caught up with the rest of the country and approved home purchases using Reverse Mortgages. Advantages: Now you can buy a home without having to deplete your entire retirement savings and without having to…
Occasionally a loan officer will get a loan that they just don’t know what to do with. Not sure how to proceed. …or, even if it’s possible to proceed. …but, they don’t want to tell you because you referred the borrower to them, and they don’t want to give you the impression that they don’t…
I’ve written about this before, but it’s important, so I wanted to touch on it again. Borrowers ask me if paying extra on their mortgage payment each month will save them money over the life of the loan. Answer: Absolutely! It can save quite a bit actually. I created the table below to illustrate the…
Have you been thinking about buying an investment property? If so, here’s an idea that gives you crazy good terms on investment property! …Buy a home from Fannie Mae’s HomePath Program. This is the program Fannie uses for some of their foreclosed properties. …But, for Investment properties the terms are pretty amazing. For instance: 1)…
I just finished a new Special Report for you. “How To Buy A House With No Money Down, Have A Super Low Rate, And Be In The Area You Want.” This report shows you how to obtain a little used 100% loan program. …very useful if you want to buy a house, but don’t have…