FHA Changes 4/1/13
Updated Oct. 9, 2013
If you are thinking about financing your next mortgage through the FHA Program now is the best time to get off the fence! As of April 1st, FHA is raising the mortgage insurance premiums. If you have been shopping, this could ultimately affect the price range you are looking at so be sure to consult with a Mortgage...

Qualifying Income
Updated Oct. 9, 2013
CAN YOU USE MY INCOME? A common question I receive from borrowers. Unemployment, Child Support, Bonus, Overtime, Disability, Dividends orTrust income to name a few. In order to assess I look at history of receipt, frequency of pymts & continuance. For fluctuating work hours an averaging method is used. All of...

Dual Primary Residence
Updated Oct. 9, 2013
Do you have a sophisticated lifestyle and Real Estate Portfolio that supports more than one primary residence? Well look no further, let's discuss alternative underwriting options for Dual Primary Residency that may offer you a benefit on your next loan to be financed. Creative solutions for your...

100% Financing
Updated Oct. 9, 2013
Did you know100% financing is still available? A true 100% Program with no down payment, no assets, no reserves, reduced MI, 30 yr fixed, seller concessions & Gift funds allowed. Renter's need to step up! Could a mortgage payment be cheaper than your current rent? Let's discuss these options...

Bank Owned Properties
Updated Oct. 9, 2013
Are your looking to buy Bank Owned Real Estate? If so, you are likely aware that some properties need a little TLC. It seems as if even Bank owned properties are headed up in price, but you can still look for those great bargains. Others cannot always see past that old 80's kitchen, horrific carpet, outdated...

Business Debts
Updated Oct. 9, 2013
Common Question...Do I have to count monthly debts paid for by my business against my debt-to-income-ratios while qualifying for a mortgage? Not necessarily, if the debt is in good standing and you can provide a minimum of 12 mo. cancelled checks from a Business bank account as well as proof that the debt is an...

Medical Collections
Updated Oct. 9, 2013
Have you experienced Medical Collections? Maxine Waters, a minority leader with the House Financial Services Committee has proposed a Bill on Friday called H.R. 1767 that states that anyone who has had a medical collection bill from their credit report that has been PAID in full, the collection should be...

Liabilities
Updated Oct. 9, 2013
Ever Co-Signed on a Loan for someone but you don't actually make the payments? It can happen with our children as they are establishing credit worthiness. However if it is affecting your debt to income ratios while you are trying to finance a new real estate loan for a purchase or refi, we can work through it....

Selling Your Home
Updated Oct. 9, 2013
Selling your home but don't know what to fix? Clear cluttered pictures on the wall, putty all the holes and paint, paint, paint! Cheap and a do-it yourself. Change the light bulbs, homes show better in light. Replace any wood rot or treat mold as a buyer may see this as unseen bigger problems.

Purchase Finanicng
Updated Oct. 9, 2013
Do you know the Absolute DO-NOT's when Purchasing a Home? Do not make any large purchases like a car or furniture, stop making payments on your bills, apply for new loans or credit cards, make large deposits into your bank accounts that you cannot document, quit your job or change #of hours worked. Always,...

Short on Income?
Updated Oct. 9, 2013
The loss of Stated-Income and No-Income/Asset loan programs has created more documentation requirements for our strong asset borrowers with proven credit history and financial stability. For many reasons, some borrowers may not really have a long 2 yr history of documentation for their income but do not...

Rising Rates 6-27-2013
Updated Oct. 9, 2013
Are we recovering too fast? Our reports tell us that American home prices increased an average of 10.6% from 3/12 to 3/13. Some feel this is too fast but the truth is, markets have cycles, period. Ups and downs will repeat, but hopefully not to such extremes that we have experienced. With the last down cycle so extreme,...

Refi Stats
Updated Oct. 9, 2013
For those curious about refi statistics, Freddie Mac has released data from its activities from January 2012 to March 2013 and reports that 434,000 borrowers qualified for and took advantage of HARP over the course of 2012. An additional 113,000 refinanced under the program during the first three months of...