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Paula Richardson's Answers


USDA/renting
Hi Shelley,Sometime life happens and there are things you can not anticipate at the time you purchased your home.Yes, I would have all written documentation regarding the new job, new job location, letter explaining a change in jobs. If there is a reason the existing job/company is going out of...
what is the interest rate for a mortgage for 640 credit score?
Great question! I would need to know the following to answer youare you going to put 0% down on the 5%Grant Programor 3.5% down on the FHA3% Down on a Conventional Loanor 10% downor 20% downwhat would be your approximate purchase price?The Down Payment and Purchase Price is the most important 2 answers...
How have some of you defined and documented an interest in the borrower when a friend is providing a gift to a borrower for an FHA
Write a letter explaining the relationship. Such as, how long you have had this relationship, High School Friends, College, Military etc. This way the underwriter understands why someone other than the family giving money, instead of loaning them the money. You would document the funds with bank...

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