Hello! I wanted to quickly go over the waiting period various loan programs have for Foreclosure. FHA – 3 years from completion date. Exceptions with extenuating circumstances are allowed. VA – 2 years from completion date with an automated system refer. Fannie Mae – 7 years from completion date, or if you can get an…
Hello! Here are two quick credit tips for you… 1) 30% of your score is made up of the ratio between your available credit vs your actual balances on revolving credit accounts (like credit cards). You don’t want to charge these accounts over 50% of the available balance, and its even better if you can…
Hello! I’ve Touched On This Before, But I Had This Come Up The Other Day, And Thought I Might Touch On It Again. When You Sell A Personal Asset Such As A Car Or Boat To Raise Money For A Down Payment To Buy A House Here Is What You Will Need To Show The…
Hello! Did you know we have 1099 loans? In other words if you get a 1099 at the end of the year we can just use your 1099’s to prove income. No tax returns or pay stubs needed. Some details on this mortgage: Loan Amounts: $100k minimum to $5 million maximum. Credit Requirements: 640 FICO…
Hello! I’ve covered this before, but I think it’s worth repeating… Before you go out house hunting make sure you have enough money available to get your house closed. …I know it sounds simple, but many people don’t realize the amount of funds they will need available to get into a house. Here is a…
Hello! I was recently on my friend Viktor Taushanov’s Podcast. We talk about… 1) What governs interest rates. 2) How to shop for rates. 3) Difference between a Pre Qual and Pre Approval. 4) And, my book that I recently wrote. You can watch it here: https://youtu.be/j5mn2XmrB-g That’s it for today! Thanks for reading! Brett…
Hello! If you receive money from the State or a County sponsored organization for providing foster care for children you can use this money as income to get a mortgage. Foster care income is considered acceptable stable income as long as the borrower has a 2 year history of providing foster care services. To prove…
Hello! I wanted to address the two most common questions that we 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 debt and they can…
Good Morning! Are you planning to use a gift for the down payment or closing costs when using a Conventional Loan? Not just anyone can give you a gift. Here is the list of acceptable donors that can give you a gift… Relative, Defined As The Borrower’s Spouse, Child Or Other Dependent, Or By Any…
Hello! There are many people that just don’t know the USDA loan program exists. …and, next to VA it’s probably the best loan available. So, every now and then I like to restate the great aspects of this loan… If you are looking for a home in the outer suburbs or in a rural area…