If you need more cash to finalize a real estate transaction and decide to sell an asset, such as a boat for example, here’s how to do it, and properly document for your mortgage company… You must create a bill of sale reflecting the date of sale, an asset to be sold, and the sales…
Good Morning! Here’s a nugget for those of you that owe money to the IRS… Did you know that if you have a monthly payment plan with the IRS we can include the monthly payment in your debt to income ratio as if it were any other debt? …so, it’s possible to get a mortgage…
Here are some helpful tidbits of information you need to know about the USDA loan program… If you are looking for a home in the outter suburbs or in a rural area make sure your realtor knows about this great USDA 100% financing program. Up to 100% of the Appraised Value – Total LTV of…
You know if you pay just a little bit extra each month on your mortgage payment it can have a huge savings for you. …and, shave several years off your mortgage. I created the table below to illustrate the savings. This is based on a 30 year $100,000 mortgage at 4% interest. Extra Payment Monthly…
Mortgage rates creeping up are finally having an affect on application volume. According to the Market Composite Index mortgage applications feel by 6.6% last week. If this trend continues it could also lead to a slowing of house value appreciation. I’ll continue to monitor it for you… That’s it for today! Have a good day!…
Happy Presidents Day. Banks are closed today, and alot of mortgage companies are closed today also. …but, I’m ‘a workin’ today! Here are some fun presidents day facts on Presidents Day… Did you know George Washington was the only president unanimously elected. Meaning all of the state representatives voted for him? Did you know John…
Don’t know if you have been keeping up with the news the last few weeks, but mortgage rates are up. They are at their highest levels in three and a half years. If you have a mortgage in process, and it’s not locked you need to have your loan officer lock it. There is a…
If you want a cash out loan on your home you will need a minimum of a 620 credit score. This is because a cash out loan is a Conventional loan, and the guideline is a minimum 620 credit score. …At least that’s what you’ll hear form most loan officers. I wanted to alert you…
There was a sell off int he 10 year bond market Friday that resulted in higher mortgage rates. The result is we are seeing the highest mortgage rates in the last 9 months. If you are involved in getting a loan right now it’s a good idea to have your loan officer lock your loan.…
I’ve you’ve been reading my blog for very long you know I like to talk about this at least once a year. My job as a loan officer allows me to have a unique perspective into people’s lives. I can see how much money people make, and how much money they have in the bank.…