One of the first steps to buying a new home is getting a pre-approval from your lender. This is important because it gives you an idea of your price range, and it also shows the home sellers that you are serious. It’s easy to assume that once you are pre-approved all you have to do is find a home, and sign some papers. However, you could still be denied a mortgage even after being pre-approved. Check out the top 6 reasons for being denied a mortgage after being pre-approved.
New Fannie Mae DU Changes
Fannie Mae just announced that during the weekend of July 29th, 2017 they will implement a new version of their Desktop Underwriter(DU). DU is an Automated Underwriting Service, which helps lenders assess risk when processing a mortgage application. The new changes will help many families get home loans that they may have been previously denied. Read on to see how this could affect you and as always reach out to me with any questions!
Elaine Mahr: Home Insurance Check-up & Mitigating Cost
Your home is probably your most valuable investment, so you will want to cover it properly. Having the right homeowners insurance will make all the difference if disaster strikes. Elaine Mahr of Farmers Insurance is with us to discuss her practice of doing a Home Insurance Check-up to make sure you have the exact right policy.
Susie O Johnson & Lindsey Jacobs: Real Estate Experts
We’d like to welcome Susie O Johnson & Lindsey Jacobs to the studio to talk about how they got started and what they think of the current market. Be sure to listen to their interview below!
Market Update: Fed Raises Rates and Plans To Lower Balance Sheet
Fed Raises Rates The Federal Reserve(Fed) recently agreed to raise their benchmark lending rate for the third time in six months. Moreover, they maintained their outlook for one more hike in 2017 and set out some details for how they intend to shrink their $4.5 trillion balance sheet […]
What Not To Say To A Listing Agent as a Buyer
If you are in the process of buying a home your buyer’s agent is on your side through your home purchase. They should be the first point of contact to the sellers and their agent. Your agent should know everything about what you want in a home, what you need, and how much you can afford, but here are 3 things you should never talk about with the listing agent.
The 4 C’s of Underwriting
If you are thinking about buying a home it is likely you will be applying for a home loan. It’s a good idea to know what a mortgage lender will look for when looking over your application. Understanding the 4 C’s of Underwriting will help you to get a picture of where you will stand on getting a home loan. Follow our guide below to help you gain an understanding and potentially improve certain areas.
4 Consumer Loans That Affect How Much Home You Can Buy
4 Consumer Loans When you are looking at buying a home your lender will evaluate your debt and credit score. These have a big impact on whether your loan will be approved, and how much you can afford. We are going to outline 4 consumer loans that could make or break your mortgage […]
Fundamental Financial Principles
Focus on Fundamentals One of the things I’m not sure I’ve had the opportunity to share is my purpose for creating the show. Creating Smart With Your Money came about as a way for me to share the information I’ve learned throughout my life with other people. Through the years I’ve […]
Offer Letters
Offer Letters Want to write an offer letter to your seller but don’t know what to say? These templates can help. Most sellers want top dollar and a quick sale on their home. But here’s a secret: They also often have a strong emotional attachment to their soon-to-be […]
