My Partner has Bad Credit; Can We Buy a House? You’ve scrimped, saved, and made sure every bill is paid just to be in the perfect position to purchase a property. You’ve got great credit, but how about your partner? Eh, not so much. This is a very common issue that I run into on […]
Mortgage
Top 6 Reasons For Being Denied A Mortgage
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!
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 […]
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 […]
Good vs. Bad Mortgage Advice
The Worst Mortgage Advice Home Buyers Hear Buying a home can be a complicated process, and getting a mortgage is arguably the most complicated part. Having a professional that understands your needs will ease the pain of the process. Check out the common bad advice you may receive when getting a mortgage, and follow our […]
How Much Down Payment Do I Need?
Down Payment The standard down payment has always been to put 20% down, and while this is not a bad idea, it is not always the best idea. Saving for a down payment is arguably the hardest part of buying a home. But, what if you have the money saved? How much of that should you […]
Big News From Fannie Mae: Common Sense Guidelines
Fannie Mae Guidelines Being in the mortgage industry, there are many guidelines I have to follow. These guidelines are always changing, sometimes for the worse and sometimes for the better. Fannie Mae recently made some big changes to their guidelines, which will have a big impact on many people looking to get a home loan. […]
What is Private Mortgage Insurance and Why Do I Pay It?
Marc Breckenridge with MGIC Marc Breckenridge with MGIC is here to discuss the ins and outs of Private Mortgage Insurance (PMI). What exactly is PMI and why may you have to pay it? For people with less than a 20% down payment, PMI is a tool allowing them to buy a home sooner. We wanted Marc to […]
