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Category | Mortgage News

W2 Transcript Only

We are please to announce our W2 Transcript ONLY program. Typically, 1040 tax return transcripts are required for all borrowers to submit for qualifying purposes, however, our guidelines now allow just W2 transcripts to be pulled and a signed 4506 T signed at closing in lieu of 1040 transcripts. This great news eliminates qualifying dilemmas […]

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Freddie is on board with low down payments!

It’s official – Freddie Mac’s minimum down payment requirement is now 3%! 3% down payments back again + affordable property values + historically low rates = the perfect market conditions to attract first-time home buyers! And with Radian as our MI partner, 97% LTV lending can be 100% awesome! Just 3% down payment required instead […]

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Non Occupant Co-Borrower

Non Occupant Co-Borrower. Maximum of 2 non-occupant co-clients are allowed per loan transaction. There are 2 types of non occupant co-borrower programs, conventional and FHA. Conventionally only Freddie Mac allows for a non occupant co-borrower where as Fannie Mae does not. Also FHA allows for a non occupant co-borrower as well, see below. Max 70% DTI […]

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First Time Home Buyer using an FHA Mortgage

FHA is not just for first time home buyers; anyone can get a FHA loan. To be considered as a FTHB ( first time home buyer), the following requirements must be met:  Purchasing the subject property  Residing in the subject property Has no ownership (sole or joint) in a residential property during the 3 year period preceding the date […]

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What is a CRM system for Realtors?

Beginner’s Guide to CRM For Real Estate Agents. What is a CRM system? Whether you’re a veteran real estate agent or just getting started in your local market, you’ve undoubtedly heard the phrase “CRM system.” But what is a CRM system and what can it do for you? CRM stands for “customer relationship management” and […]

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What is Happening to Housing Supply and Demand?

If you had an opportunity to look at this month’s Economic and Housing Market Outlook, you must have read the analysis written by Freddie Mac’s economists on the three areas of supply and demand. The aim of the analysis is to help us understand where we are headed. However, it is clear that what is […]

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Commercial Finance Update

Small Business Commercial Real Estate Commercial real estate financing for owners of small and mid-sized businesses. Preserves more capital with up to 90% loan-to-cost financing of total project costs up to $15MM (including soft and closing costs). Less impact on cash flow with terms of up to 30 years for owner-user commercial real estate. No […]

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Is It Time To Refinance?

When lower mortgage rates change the economic climate, it’s always smart to ask yourself if your current home financing arrangement is still working optimally for you. Here are some answers to a few basic questions to help get you started: Q. How far below your current rate do interest rates have to go before refinancing makes sense? A. […]

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We Keep You Informed on Recent Loan Enhancements!

FHA Streamline Qualifications Revised Effective with case numbers assigned on or after April 21, 2014, Streamline Refinances with ratios greater than 31%/43% up to 37%/47% must meet one of HUD’s defined compensating factors. We have expanded our eligibility requirements on all Fannie Mae and Freddie Mac Loans. All standard conventional loan programs will now allow […]

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Our Lenders have Lowered Fico Requirements on FHA & VA to 580

We are pleased to announce that our Lenders have lowered their minimum fico requirement on all FHA & VA loans to 580 ! This will allow us to have a greater reach to acquire new clientele and know that their loan applications will be treated with the same level of care & excellence as already […]

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