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…
Do you have credit scores, but your co-borrower doesn’t? Or, is it the other way around? …Do they scores, but you don’t. Good news! …I have a loan program to meet your needs! Here are some things to keep in mind with this particular program… 1) At least one borrower on the transaction must have…
Monday I detailed the VA loan program. I wanted to give you some info about a lesser used 100% program – USDA. USDA Loans: USDA is another 100% loan program. It’s a lending program that is put out by the US Department of Agriculture. The purpose of the program is to promote rural development of…
There are still 100% loan programs in the Mortgage Market Place. One of the best is VA. I wanted to give you a quick breakdown of the good and the bad for a VA loan… VA purchase loans allow a qualified borrower to buy a house with no down payment. This is one of the…