Good Morning! Happy Thanksgiving! Here’s five things you may not have known about thanksgiving… 1) Historians have no record of turkey being eaten at the first Thanksgiving. 2) Benjamin Franklin wanted the turkey as the national bird. 3) Snoopy has made the most appearances in the Macy’s Thanksgiving Day Parade. 4) The first professional Thanksgiving…
Good Morning! If you’re rate shopping for a mortgage – here are some guidelines for you to keep in mind… 1) Ask the loan officer for a Loan Estimate (LE). There’s always a relationship between fees / points / and rate. …You won’t know what that relationship is unless you look at a LE. (A…
Good Morning! Have you ever wondered how much extra you would have to pay on your mortgage each month to shave off five years, or ten years, or more? It’s easy to see on the calculator on our website. Click on it, and check it out… https://www.berkshirelending.com/mortgage-calculator/ Hope you are having a great week! Brett…
Good Morning! Here are some advantages and disadvantages of the USDA loan program… Advantages of USDA: USDA loans are 100% loans. No down payment is required! Low monthly mortgage insurance. At the time of this writing the monthly MI is .35 x the loan amount divided by 12. Flexible credit guidelines. USDA loans allow the…
`Good Morning! Happy Veterans Day! Here’s something you may not have known about Veterans Day… Veterans Day originated as “Armistice Day” on Nov. 11, 1919, the first anniversary of the end of World War I. Congress passed a resolution in 1926 for an annual observance, and Nov. 11 became a national holiday beginning in 1938.…
Good Morning! I had this situation come up again last week… Advice: If you enter into a lease option agreement don’t give cash for the option money. The reason is when you try to buy the house down the road you will have to prove you gave the option money to get credit for it.…
Good Morning! I wanted to highlight an underused program in the mortgage market. …It’s Freddie Mac’s Home Possible. Here are some highlights of this great program… – 97% financing! – Only .25% mortgage insurance rate! …compare to .85% for FHA and over 1% for 95% Conventional. – No reserves required. – Allows 3% seller contribution.…
Good Morning! Tomorrow is election day. Do you recall what happened with mortgage rates after the 2016 election? Mortgage rates rose rather dramatically in a short period of time. Hopefully we won’t see a repeat of this. The one wild card is the persistence of Covid-19. It continues to subdue economic…
Good Morning! I wanted to list some of the Alternate Documentation loans we offer. These are loans for people that have trouble proving their income via traditional means (tax returns). Option 1: Bank Statement Loans Very simply we take the aggregate deposits of your bank statements (can be personal or business)…
Good Morning! I wanted to let you know how the major mortgage programs treat Chapter 7 bankruptcy… FHA: 2 years from discharge date, but not less than 12 months w/extenuating circumstances. VA: 2 years from completion date. USDA: 3 years from discharge date. Fannie Mae: 4 years from discharge date, or dismissal date. Freddie Mac:…