What I Do...

Good Morning!

I probably don't do this enough, but I wanted to take a minute to explain to exactly what I do.

...that is to say what I'm good at. ...what I specialize in.

Yes, I'm in the mortgage industry. I make loans for people to buy and refinance houses.

I can do all the mortgage loans any other bank or mortgage company can do.

I can give you great rates - just like them.

...but, what I'm really good at is getting loans closed that other mortgage companies can't.

Sometimes its low credit scores, or high debt to income ratios. ...sometimes it's no trade lines.

...but, for what ever reason the original mortgage company they went to couldn't get the loan approved.

I can't tell you how many of these type of loans I get closed!

Two out of every five loans I do some other mortgage company turned down!

...So, if you are having trouble getting approved for a mortgage - give me a call or shoot me an email! ...I just might be able to help you out!


Special note: For all of you who are about to take off on your summer trips - please travel safely! 

  

Have a good day today!  ...and thanks for reading.

  

Brett

 

  

To see if you qualify for a mortgage right now - CLICK HERE  and fill out this simple application.

To sign up for my weekly mortgage quick tips - CLICK HERE.

  

  

  

 

Simple Rules For Refinancing A USDA Loan...

Good Morning!

If you have been thinking about refinancing your USDA loan here are some rules we have to follow...

The rules are in your favor!

1) Closing costs and one time upfront USDA guarantee fee may be included in the loan. Origination fees are capped at 1% of the loan amount.

2) No appraisal required.

3) No property inspections.

4) Interest rate must be a minimum of 1.00% lower than current USDA rate.

5) Credit report required for pricing, not eligibility!

6) No ratio requirements.

7) New term of loan must be 30 years.

8) Upfront USDA guarantee fee will be 1.5% and will be rolled into loan.

9) USDA annual fee will be .30%.

10) No cash out is permitted.

If you would like to get some pricing on your USDA refinance loan - just give me a call or shoot me an email!  

Have a good day today!  ...and thanks for reading.

  

Brett
 

  

To see if you qualify for a mortgage right now - CLICK HERE  and fill out this simple application.

To sign up for my weekly mortgage quick tips - CLICK HERE.
  

New Changes From FHA Could Effect You...

Remember a couple of months ago when I told you that FHA changed their guidelines on collection accounts?  …namely that if your aggregate collections exceed $1,000 you had to pay off all your collections? Then FHA decided to put off this change until July 1st 2012. Now they are doing away with this change all together. …This news came out yesterday. It’s good news. This collection policy would have significantly limited the pool of borrowers that would qualify for an FHA loan. It would have hurt the housing market, and the economy. So, FHA is basically reverting back to the guidelines that existed prior to their initial change announcement.  If you have some older collections and want to buy a house – it may well be doable!  Give me a call or shoot me an email and let me take a look at your situation.    Have a good day today!  …and thanks for reading. Brett To see if you qualify for a mortgage right now - CLICK HERE  and fill out this simple application. To sign up for my weekly mortgage quick tips - CLICK HERE.

IF YOU CHANGING JOBS AND WANT A MORTGAGE…

Good Morning!

If you are in the process of changing jobs during the process of getting a mortgage keep this in mind…

The underwriter will want to see your first pay check at the new job at a minimum, and often they will want to see your first 30 days of paychecks.

The underwriter isn’t trying to make your life difficult by asking for your new paychecks. …This is a common guideline in the mortgage industry.

There is one circumstance where you can change jobs and not have to supply your new pay check prior to approval… 

If you continue to work for the same company, but you are just changing jobs within that company then you won’t have to produce a new paycheck.

If you have more questions on this – don’t hesitate to give me a call or shoot me an email! 

Have a good day today!  …and thanks for reading.

Brett

To see if you qualify for a mortgage right now - CLICK HERE  and fill out this simple application.

To sign up for my weekly mortgage quick tips - CLICK HERE.

ONE OF THE BEST LOAN PROGRAMS AVAILABLE TO YOU…

Want to buy a nice home in the country or outlying suburb with no money down?

I’ve got ‘ya covered!

Here’s some great reasons to use our USDA program…

Up to 100% of the Appraised Value – Total LTV of 102% -

Difference of sales price and appraised value can be used for closing cost

No Down Payment Required

No Cash Reserve Requirement. No cash contribution requirement

Unlimited seller concessions

Unrestricted gifts, not necessary to document source, no seasoning

First time home buyers allowed, but not limited to first time home buyers

Minimum credit allowed is 620

Completed Short Sales are NOT regarded as a foreclosure or negative credit. We will need a clear CAIVRS and an adequate letter of explanation

Collections over 1 year may not need to be paid (cannot be a pattern and depends upon credit score). 

Non-traditional credit may substitute for lack of credit history

Repair Escrow financed in loan up to $10,000 or 10% of loan

Ratios as high as 33/45 with Compensating Factors

Investor Properties – No Seasoning – need 24 month chain of title

Have a good day today!  …and thanks for reading.

Brett

To see if you qualify for a mortgage right now - CLICK HERE  and fill out this simple application.

To sign up for my weekly mortgage quick tips - CLICK HERE.