1% Down Loan Spotlight…

I wanted to spotlight a loan program for you.

We have a 1% down Conventional product down to a 620 credit score. …also, the 1% down can be a gift.

Requires home buyer education.

Being a first time home buyer is not required.

There are county by county income limits on this program.

If you are interested to see if you qualify please reach out to me.

That’s it for today!

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

Brett

Get Pre Approved For A Loan Here.

My Previous Blog Posts

When You Should Use Fannie Over Freddie…

Here’s a few examples of when you would want to use Fannie Mae for your Conventional loan instead of Freddie Mac.

If you are self employed, and have no business tax returns… Go Fannie Mae. If Borrower has been self-employed for 5 years or more, you only need to provide 2 years of personal tax returns IF page 1 of the returns indicate an increase in self-employed income.

If you have unpaid collections and non-mortgage charge-offs… Go Fannie. Fannie, on a primary single family residence, does not require ANY of them paid off. Freddie Mac does.

If you are a borrower with Multiple financed properties? Fannie Mae still goes to 10. Freddie caps you at 6.

That’s it for today!

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

Brett

Get Pre Approved For A Loan Here.

My Previous Blog Posts

Benefits Of Using Freddie Over Fannie…

Here’s a couple of benefits of using Freddie Mac over Fannie Mae on your conventional loan…

Freddie is a little easier on Asset Verification. Freddie will just ask for your most recent 30 days’ bank statements.

Freddie is more aggressive on additional income calculation. Freddie DOES NOT require a 2-year average and a YTD calculation for income such as: bonus, overtime, tips, etc. Merely most recent year and YTD.

If you have additional questions about Conventional loans just give me a call or shoot me an email.

That’s it for today!

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

Brett

Get Pre Approved For A Loan Here.

My Previous Blog Posts

Bankruptcy Seasoning For Each Loan Program...

I've written about this before, but I think it's important you know how the major mortgage programs treat Chapter 7 bankruptcy...

FHA: 2 years from discharge date, but not less than 12 months w/extenuating circumstances.

VA: 2 years from completion date.

USDA: 3 years from discharge date.

Fannie Mae: 4 years from discharge date, or dismissal date.

Freddie Mac: 4 years from discharge date or dismissal date.

That's it for today!

I hope you have a great day! Thanks for reading!

Brett

Cool Tip For Android Users…

No mortgage post today.

I want to pass on a little tip for you.

I have an Android phone, and unfortunately this tip is only for Android users. (I’m sure there is a corresponding app for IPhone users)

Download an application in your Chrome browser called Mighty Text. Mighty Text connects with your android phone, and it does alot of cool stuff.

You can send and receive texts through your laptop or desktop computer that go out on your phone. You can send group texts to many people. You can structure the group texts to look like it was just sent to one person, or you can include the entire group.

You can also plug in a phone number on your computer and tell your phone to dial it.

So, check it out! It will help you use your phone more effectively.

I use it when I’m at work.

That’s it for today!

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

Brett

Get Pre Approved For A Loan Here.

My Previous Blog Posts