While those misconceptions may not make much of a difference normally, during the loan process for a mortgage the failure to follow these simple rules may prove disastrous. When a mortgage application is received, a credit report is run providing the underwriter with your credit score and credit history. Each lender has different guidelines they [...]
Veterans have extraordinary opportunities to purchase a home using their VA home loan benefits. Veterans can purchase a home or condominium, with no down payment, up to certain loan limits. The hitch is that the condominium complex must “pass muster” with the VA. If you’re considering a condominium that isn’t VA-approved, this article is for [...]
The worst thing that can happen is to make it all the way to the closing table and have one of these items happen to you.
Remember that a lender can review any part of your financial, credit or residency history at any point of the applicaiton process.
Home buyers in Texas are often asking what they can do to ensure a smooth closing. With all of the changes in this industry and to our Underwriting guidelines I have put together a small list of items, which if followed, will aid to make your closing a success.
The Boise Idaho Down Payment Closing Cost (DPCC) Assistance Mortgage For Idaho First Time Home Buyers is a zero percent interest, due on sale or non-occupancy, deferred loan program available for borrowers with total household income of less than 80% of area median income.
In May Fannie Mae, the largest purchaser of home loans, announced a new requirement prior to the funding of a Mortgage. This was published on Mortgage News Daily on May 10th. The new quality control measure was set in place for the safekeeping of the investors against the prospective buyer assuming more debt that they [...]
Kenneth Harney, a syndicated newspaper writer, that I look forward to reading every Sunday morning had an article that should have appeared in every local newspaper. His article provoked several thoughts with regards to the mad rush for the $8,000 tax credit. During the last week of April I received a number of requests for [...]
Providing proper asset documentation and the actual source of the funds is a critical element of the loan closing process. There’s nothing worse in a real estate purchase than making it all the way through the hoops and hurdles just to have a loan denied after the final documents have been signed due to the [...]
What the heck are they talking about? Many borrowers go through the closing process in a haze, nodding, smiling, and signing through a bunch of noise that sounds like Greek. Even though you may have put your trust in your real estate and mortgage team, it helps to understand some of the terminology so that [...]
*This is not an offer to lend. 
Obama Refinance Plan For San Jose Homeowners AnnouncedHome Affordable Refinance Program Update Harp 2 Bay Area San Francisco California March 2012 Guidelines for Purchasing a 3 to 4 Unit Property with FHA Financing in Alameda, CA8 Year Fixed to 30 Year Fixed. You Can Choose Your Loan Term In San Jose
