November 5, 2017
Issuing a Pre-Approval letter involves correctly analyzing three different but critical components of the File: 1. Credit 2. Income 3. Debt Each of these areas is very complex. If questions arise when documents provided by Buyers are being reviewed, it’s in the best interests of the Buyer and the Agent representing them that we as a Lender get clear cut……
August 16, 2014
This is a common question asked of Lending Professionals everywhere . . whether you’re applying for an FHA, VA, USDA or Conventional home loan. We narrowed it down for you 🙂 . . . . Whenever the Underwriter asks for additional paperwork, it’s usually because of one of the following five reasons 1/ Something you sent contradicts or conflicts with……
February 18, 2014
Here’a a tremendous resource and tool for first time homebuyers in California looking for tips and advise on purchasing a home in California. Click Here For Video
February 10, 2013
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CONVENTIONAL Loans / FHA, VA & Conventional Related / General / Latest News & Updates
Private Mortgage Insurance (PMI) is a necessary evil when you borrow more than 80% on a Conventional loan. But in 2007 the Govt. passed the Mortgage Forgiveness Debt Relief Act which allowed PMI to be tax deductible if you fit certain income criteria. Unfortunately that Rule expired in 2011 which meant in 2012 homeowners couldn’t write off PMI as a……
February 28, 2012
November 15, 2011
So the Chief Economist at NAR (National Assoc of Realtors) predicts housing sales will increase 4% next yr (2012). Moody’s Analytics (Celia Chen) is more ambitious, thinking a 20%+ jump in 2012. But the much-desired housing recovery will be strangled by one thing above all . . .lack of consumer (homeowner) confidence in that Recovery. You see if house prices……
November 7, 2011
it’s a little known fact amongst Homebuyers, Renters, Realtors and even Loan Officers that both FHA and VA allow a Borrower to purchase a home after they’ve made 12 timely payments on a Chapter 13 BK. Wait! What? Yes you read that right. Why is this important? It’s important because while grappling with many unpaid collections, charge off’s and judgements,……
October 26, 2011
The Federal Housing Finance Agency, together with Fannie Mae and Freddie Mac, have set up a bunch of updates to the HARP (Home Affordable Refinance Program). The program has existed to help people who were in a position of negative equity but capped homeowners at 125% Loan-to-value. But now Homeowners can refinance without any limit on how upside down they……
October 11, 2011
Everyone! Write your Congressman/Congresswoman and push them to pass H.R. Bill 8026 known as “The Medical Debt Responsibility Act (2011”. Below is a Summary of what the Bill means, straight from Congress. Basically, any medical bill less than $2500 which is satisfied or paid CANNOT BE REPORTED ON YOUR CREDIT REPORT! Could you imagine what this would do to the……
October 5, 2011
The VA Home Loan just got better a few days ago, in case you didn’t know. If you are a Veteran Homebuyer or know someone who is, see below. The upfront Funding fee has been lowered! This means lower monthly payments for Veterans who even need to pay a funding fee. Click on the Chart image to make it bigger…….
