Good Morning! If you wanted a Conventional Loan, and you were thinking of trying to use a gift for down payment or to help with closing costs – here are some guidelines you need to be aware of… The gift can only be provided by… A relative, defined as the borrower’s spouse, child, or other…
Good Morning! Rates on ARMs are getting amazing right now! I wanted to give you an idea of where these rates are… FHA 5 year arms = Rates in the low 3’s! VA 5 year arms = Rates in the low 3’s! Conventional 7 year arms = Rates in the mid to low 3’s! If…
Good Morning! I’ve talked about this before, but I think it’s worth revisiting… If you are trying to purchase a house with an FHA loan – and you are using part time job income, be aware of this… FHA will want to see that you have a two year stream of this part time income…
Good Morning! If you are a Veteran and you live in Texas – then you have access to the Texas Vet Loan Program. The main benefit of the Texas Vet program is low rates. Current rates are 4.32% on this program, and if you are a disabled Vet then your rate would be 3.82%. Here…
Good Morning! Would you like to refinance your house, but you currently owe more than your house is worth? If so, then I have several programs I can use to get you refinanced – depending on if your current loan is a Fannie Mae loan, Freddie Mac loan, or an FHA loan. …Some of these…
Good Morning! Did you realize that we still allow the seller to take back a second mortgage to facilitate the sale of their home? We do! This can come in very handy for getting deals closed, where they otherwise wouldn’t be able to. Here are some of the requirements of the seller seconds… 1) Subordinate…
Good Morning! Some good news! …but first a brief editorial comment: After the mortgage market crash underwriting swung so far to the conservative side that it’s helped put a death grip on the economy. I don’t think the feds have figured this out yet, but the real estate market is the engine that drives our…
Good Morning! I have borrowers ask me every day how much they need to put down to purchase a home. Here are your minimum down payment options on the loan products currently available in the market place. Loan Programs… VA loan: No down payment necessary. No monthly MI. This is the best loan going if…
Good Morning! One of the hardest loans to get right now is a mortgage for a manufactured home. …It’s because lenders just don’t do them anymore. I wanted you to know that I still do loans for manufactured homes down to a 600 credit score! This loan is good for homes in a city, or…
Good Morning! I have two quick things to go over with you today… 1) I left Southwest Funding and started my own mortgage company. It’s called Berkshire Lending, LLC. …So when you call me or email me your questions you are talking to the boss! Don’t worry – all my phone numbers, web site, and…