What is a No Doc Mortgage?
Before the housing crash in 2008, a popular alternative to the traditional mortgage was called the Ninja mortgage which stands for “no income, job, or asset verification. This is also referred to as a no doc mortgage. Now while this might seem a little crazy,...
Home Loans for Fixer Uppers – 203K Loan
If you are considering buying a home that needs a little bit of TLC, an FHA 203K loan might be the best option. An FHA 203K loan also sometimes referred to as a re-help loan or construction loan, allows the borrower to finance two major items in one, the house itself,...
What to Expect When Financing a Rental
Planning on buying a home for rental or investment purpose? There are certain things you should know about the financing process. It’s a little bit different than buying a home you’re going to occupy so it’s important to know the terms, the rates,...VA Loan Limits Eliminated
The National Association of Realtors and the Department of Veterans Affairs have recently eliminated the conforming loan limit on a VA loan. The Blue Water Navy Vietnam Veterans Act now allows homebuyers to borrow above the 2019 limit of $484,350 without any down...
How Does a Mortgage Loan Officer Get Paid?
Many first-time homebuyers and borrowers ask how a mortgage officer or lender gets paid? Well, let me break it down for you so you understand all of the details involved in a real estate transaction or refinance. Mortgage officers or loan offers are typically paid by...
How to Go From Renting to Owning
Making the Move from Renting to Buying Welcome to the real world. Are you ready to be homeowners? It is a big step to go from renting to owning. There are a lot more responsibilities but you are gaining equity for the future, saving money for yourself and developing a...
Can Your Lender Offer Legal Advice?
You may often find real estate attorneys that are also licensed brokers or agents but you usually won’t find a mortgage officer that is also practicing law. A real estate attorney can conduct a real estate transaction from the purchase and sale agreement to...
Can I Refinance if I’m Self Employed?
The stated income home loans or self-employment home loans are a great option for anyone that is self-employed but I’ve been asked a lot frequently if self-employed individuals can refinance under this type of loan. Sometimes qualifying for a mortgage can be...YOU MAY BE A WINNER! And Other Ridiculous Bank Adverts
I’m sure you’ve gotten them in the mail, those advertisements and marketing ploys that say you may already be a winner or you may already be qualified yada yada. How do they know if you’re a winner or if you’re qualified? Well, they...
Welcome to my Blog!
Here you’ll find tips, updates on mortgage laws and changes that can affect your loan or approval. Check back often for more great ideas.