Remember the good old days when you could actually get the seller to contribute to your closing costs? Those days are gone for now. However, the cycle will return eventually to a more normal market. So, the next time you need to know how much the seller can help you, here is a breakdown of…
Hello! If you pay your property taxes apart from your mortgage payment, and you didn’t get them paid by then end of January they are now considered late with the county. There are two issues I see every year with regard to property taxes. …Issues that put people in tough spots. 1) Some people just…
Hello! Here are three things you need to be aware of for us to use your bonus income to get a mortgage… 1) We can’t use bonus income or overtime income unless you can prove you have been receiving this income for 2 years. 2) The employer has to indicate that the bonus or overtime…
Hello! When it comes to your mortgage payment your credit score can affect your interest rate, and your homeowners insurance rate.There is another part of your payment that is also affected by your credit score… Your mortgage insurance payment on Conventional loans. Let me give you some examples of how your mortgage insurance rates can…
Good Morning! You may or may not know this, but the mortgage industry is a dynamic industry. Things change on a daily basis. Loan programs come and go. Guidelines change, etc. I saw a new product come out recently on the Non QM side of the market. (non qualified mortgages) It’s an 80/20 purchase. So,…
Good Morning! If you are needing a mortgage or in the mortgage process, and you have any disputed credit accounts – this could be problematic for you. I just made a short video on how to get a loan without removing disputes on your credit accounts. So, if this applies to you or someone you…
Good Morning! FHA gift questions come up often. I wanted to give you the rules on FHA gift giving. Here ya go… Acceptable gift donors for FHA loans… 1) Borrower’s relative. 2) Borrower’s employer or labor union. 3) A close friend with a clearly defined and documented interest in the borrower. 4) A charitable organization.…
Good Morning! I wanted to address the two most common questions that I get regarding reverse mortgages… Question: What happens if I die? Will the lender be taking my house? Answer: No. After you pass away, your heirs may pay the loan balance in full with cash or by refinancing the…
Good Morning! Check out this landing page I created with a little video on how to buy a house in the Prosper and Celina area with no money down. Even though this was focused on Prosper and Celina, honestly it would apply to most areas of Texas. Here ya go… https://www.berkshirelending.com/usda-video-report/ That’s it for today!…
Good Morning! In the times we are living in I’m having a hard time bringing myself to send out blog updates about this or that mortgage program. So, there’s a short video from Simple Truths that will make you laugh (hopefully). …just trying to keep things in the proper perspective. 😉 Thanks for reading!Have a…