Fannie Mae and Freddie Mac have a very conservative calculation when it comes to using rental income to qualify. Here’s what you need to know if you’re getting an FHA mortgage and you have mortgaged rental property… Fannie Mae and Freddie Mac’s mortgage calculation of use net income is super conservative and will make your…
5 quirky refinance scenarios that work In the last few years mortgage lending guidelines have begun to loosen as the broader economy is stronger now that the recession has past. Following refinance scenarios are eligible for financing… Cash-out refinancing followed by cash-out refinancing just six months after. You heard that right you can do a…
Fannie Mae and Freddie Mac are starting to take a more balanced approach in the way they view mortgages. The change about self-employment income not hurting your W-2 income is one such example of that. Here’s what you need to know if you have both income types are looking for a mortgage… Up until recently…
How mortgage lender credits work with rates If you’re getting a mortgage or plan to be you might be working with a situation where a lender credit is needed. Here is what you need to know with how lender credits work with regards to interest rates and government required disclosures… When you select a mortgage…
VA financing is the best mortgage loan program by far for mortgage Borrowers. Here are some of the nuances about VA loans that you should know if you’re considering using a VA loan for a purchase or for a refinance… The US Department of Veterans Affairs guarantees home mortgage loans for eligible military veterans up…
The Federal Housing Finance Agency on November 28th raised the conforming and high balance loan limits for a Fannie Mae and Freddie Mac loans. Here’s what these changes will mean… Each year the Federal Housing Finance Agency which oversees Fannie Mae and Freddie Mac reviews and evaluates changes on whether to keep the loan amounts…
Purchasing a home can require a down payment plus closing costs which can equate the thousands of dollars. Here’s a way you can get your foot in the door using other people’s money… The national housing market has slowed, and refinance applications are down to the lowest level in years while purchase applications are otherwise…
For anyone who is ever thought about getting a mortgage, saving money and getting ahead financially this is for you. Following is what you should have for the most optimal financial profile… To purchase or refinance a house you need to have a blend of cash, credit and income. You would want your income to…