Did you know we offered delayed financing? Delayed financing is for Borrowers who purchased a property for CASH within the past six months. Delayed financing works great for those buyers that bought a house for Cash due to an auction, etc. These buyers are then eligible for a cash-out refinance if all of the following…
Have you been told your debt to income ratio is too high to get a mortgage? Here’s trick I’ve used successfully on borrowers that have high debt to income ratios on conventional loans. It’s virtually impossible to get Fannie Mae to give you an automated approval if your debt to income ratio is above 45%.…
Did you know that your entire down payment on a Conventional loan can be a gift? It can! This would go for loan to value ratios from 95% and below. Minimum credit score on this is the same as on other Conventional loans – 620. …Oh, and for you realtors that didn’t get a copy…
I hope your having a good day so far! I finished writing a Special Report for Realtors this morning. It’s titled: How Realtors Can Sleep Better At Night, Have Less Stress, And Have More Cash In The Bank. Five Things Your Loan Officer Must Absolutely Be Doing Right! Even though I wrote it to help realtors this…
Two quick loan tips… 1) Did you know we can do USDA loans down to a 580 credit score now? …We can! However, you should be aware that the underwriter will want pretty clean credit over the last 12 months. …No new derogatory activity in the last 12 months. …and, remember you can do up…
Couple of things… 1) USDA has increased their income limits recently. If you would like to see if your family income is under the USDA threshold for your area you can either contact my office and we’ll run it for you. …or, you can run it yourself here. 2) Loan Tip: Many people are unaware…
Since 2008 happened there has been a void in the mortgage market. When I say a “void” I mean there hasn’t been a loan available to serve a specific section of the mortgage market. This “void” has been the following… A person who is self employed (either owns their own business, or is a 1099…
I want to talk to you about the impact of disputed accounts on Conventional loans. There’s two ways you get a disputed account. …either you dispute the account yourself with the credit bureaus. …or, you higher someone to dispute the account for you. When your credit is pulled the prospective lender will see that your…
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…
If your loan officer is telling you that you would qualify for a manual FHA loan, if only your ratios didn’t exceed the FHA benchmark guidelines. …don’t fret. There may still be hope for you. If you can produce two of these compensating factors then you have a shot at overcoming a hight debt to…