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 simple breakdown of your out of the out of pocket costs…
Did you know we have Jumbo products that go down to 660 credit scores? We do! For a 660 credit score you would be looking at a max loan to value ratio of 70%, a max debt to income ratio of 40%, and you would need 36 months of reserves. Keep in mind, this isn’t…
No mortgage stuff today. Some days more than others you realize how quickly life can be gone. My former father in law for many years died yesterday in a murder / suicide. Shocking and sad. My boys lost their grandpa. I grieve for them. Don’t hesitate to tell the people you love that you love…
Have you been out of work, and now you are working again? …and, now you would like to buy a house? I wanted to go over the FHA guidelines with you on a borrower returning to work in case you or someone you know is in this situation… There are just a few main guidelines…
I have people ask me about no cost refinances. I wanted to take a minute and tell you exactly how a no cost refinance works. There are two pools of funds you have to address when you refinance… 1) Closing costs. 2) Pre paids. (taxes, interest, and insurance) A no cost refinance will cover your…
This is a program we have for self employed borrowers that can’t provide traditional tax returns to get a mortgage. Here are some details about this program… · Up to 90% LTV · No 1040’s, no 4506T, no prepay, No MI, no reserves, 100% gift funds allowed · 24 months Business statements – if sole…
If you are having trouble selling your home – there’s really only one of two reasons your home isn’t selling… It’s either the home, or it’s the price. So, take a step back and give your home an honest look. …try to determine which one of these reasons might be behind your home not selling.…
Here’s an easy way to put down only 3%, pay no up front Mortgage Insurance, and get a very competitive rate… …It’s Fannie Mae’s 97% purchase product! Here are some of the important features of this product… 1) Owner-occupied primary residence only. 2) Minimum 620 FICO score. 3) Seller contributions up to 3% of sales…
Did you know I can do loans for people with only an ITIN number? That’s right, I can do loans for Foreign Nationals that have no social security number. Here are some of the highlights from the guidelines for this program… A Foreign National is not a resident of nor permanently resides in the…
When you give someone option money at the onset of a lease option agreement – you are going to have to prove you gave that money when you get a loan to buy that house. How do you prove it? If it’s certified funds you need to keep a copy of the certified check. If…