Good Morning! Did you know we have a VOE (Verification of Employment) program that is considered full doc? This program is for borrowers that work for a company (receive a W-2) You don’t need pay stubs, or w-2’s, or tax returns. …we just send a one page form to your employer. They fill it out…
Hello! FHA gift questions come up often. This is where the buyer would get a gift to help in purchasing a home. I wanted to give you the rules on FHA gift giving. Here ya go… Acceptable gift donors for FHA loans… 1) Borrower’s relatives. 2) Borrower’s employer or labor union. 3) A close friend…
Hello! What do you do if you are in the process of applying for a loan and you have filed an extension on your taxes? (assuming your loan officer is asking for tax returns for underwriting) Your loan officer asks you for your most recent tax return, but you can’t give it to him or…
Hello! If you purchased a home using your own cash, and now would like to pull your cash back out – we can do that. This type of loan is called ‘delayed financing’ …and, you can get your cash back out of the house. In fact, we do this type of cash out loans up to…
Hello! You might be surprised to know that there are many realtors out there that are unaware of the USDA program. If you are looking for a home in the outer suburbs or in a rural area make sure your realtor knows about this great 100% financing program. Here are some quick bullet points on…
Hello! Did you know we have programs to help ITIN borrowers? An ITIN borrower will live and work in the U.S., but will not have formal U.S. residency status. Here are some features of our ITIN loans… No Social Security Number Needed Loan Amounts Now Up To $1.5M Primary Residences, Second Homes &…
Hello! I wanted to give you a quick breakdown of how your credit score is calculated by the credit bureaus… 35% – Payment history The credit bureaus look at your payment history on all your accounts; the length of your positive credit history and how long you have gone without a negative item; whether there…
Product Spotlight: If you or someone you know have thought about getting a Reverse Mortgage, you or they may have run into a problem… If you have a more expensive home it’s hard to get a Reverse Mortgage. 99% of all Reverse Mortgages are done thru FHA. The problem is, if your home is worth…
Hello! I’ve written about this before, but it’s important, so I wanted to touch on it again. Before you go house hunting make sure you have enough money available to get your loan approved and your house closed. …I know it sounds simple, but many people don’t realize the number of funds they will need…
Hello! I had this situation come up again last week, and I wanted to address it again with you… Did you realize that when buying a house from an immediate family member – the buyer doesn’t have to come out of pocket for a down payment? (As long as it’s an owner occupied residence for…