Good Morning! If you have a 10% down payment – this loan program just might work for you. With many couples one spouse has good credit but not enough income to borrow on their own. The other spouse has good income, but not very good credit. Most loan programs in the mortgage industry will automatically…
Good Morning! I see this single element kill more loan approvals than probably any other single thing. …Overlay guidelines. I continue to write about this from time to time because I’m really trying to get the message out on this. If you thought your score was good enough to get a loan, but your lender…
Good Morning! I wanted to let you know that we can now do FHA mortgages down to a 580 score! However, this program does come with some guidelines that I want you to be aware of. …So if you think you would qualify for this program please give me a call or shoot me an…
Good Morning! I wanted to let you know a few unusual loan programs I offer that you won’t find at your corner bank… 1) Jumbo loans up to 1.5 million dollars. …this includes purchase, refinance, and cash out refinance. 2) Loans up to 90% LTV and $800,000 have NO mortgage insurance! 3) Texas cash out…
Good Morning! Did you realize you can get a loan to buy a house without two years of consecutive work history? It’s true! …If you use a conventional mortgage. As long as you have 30 days worth of paystubs I can get you a loan. So, if you had been out of work, but now…
Good Morning! Have you ever wondered what the impact on your credit score would be if you paid off a certain collection, or credit card? I’m going to do a video illustration on this subject, but I wanted to write a quick note to you about it because I want you to know this is…
Good Morning! One of the most underused methods of increasing credit scores is to add trade lines to your credit report that are active and have a good payment history. Some people with “not so good” credit have a hard time getting new credit. …no one wants to give them new credit. It becomes a…
Good Morning! I wanted you to know that FHA is changing their Mortgage Insurance again. Here are the 7 things you need to know about these changes: 1. These changes are effective April 18th, 2011. 2. The Annual Insurance Premium will increase .25% for standard forward mortgages. The Upfront Mortgage Insurance remains at 1.00%. 3.…
Good Morning! I run into this issue with bankruptcy frequently – so I wanted to address it again today. Here is what you need to do if you have a recently discharged bankruptcy… Mortgage companies want to see that you reestablish new positive trade lines after a bankruptcy. …In fact, the guidelines will want to…
Good Morning! Here is one way to purchase a home with less than a 620 credit score. It’s called a Manually Underwritten FHA loan. We can still do Manually Underwritten FHA loans down to a 600 credit score. …but, the rest of your file has to fit the manual guidelines. Here’s what the manual guidelines…