Thinking About A Home In The Country? Check This Out...

Here's another loan that I can make that most other lenders just can't do...
  Have you ever thought about buying a house out the in country? ...away from it all?
  ...on a lot of land?

Then, this program may work very well for you. Here are some highlights...

1) Only 3% down payment.

2) Up to 417k loan amount.

3) No limit on the amount of acreage.

4) Property must be located in a rural area with a population of 2,500 or less.

5) Property should be owner occupied, detached single family home.

6) Minimum credit for this program is 680.

7) The value of the home must be at least 35% of the loan amount.

8) No limitations on the distance of the comps for the appraisal!

9) No limitations on the date of sale on the comps for the appraisal!

10) Property cannot be a major farm.

This isn't the only rural program that I have. 

There are also USDA and FHA, but both have limitations that this program doesn't.

If you want to purchase a home in the country - give me a call or shoot me an email. We'll try to find a way to gitter' done for you!

That's it for today!

 

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.

Does It Hurt Your Credit Score To Have A Mortgage Credit Report Pulled?…

Today's Quick Tip...

I get this question alot: "If you pull my credit will it hurt my credit score?"

The answer is not really.

When you get an inquiry on your credit it's usually due to you applying for one of these 4 types of credit...

1) A credit check for a mortgage loan.

2) A credit check for an auto loan.

3) A credit check for a credit card application.

4) A credit check for a store credit card, or consumer loan.

Of all of these a mortgage inquiry would have the least effect on your credit.

Also, the credit bureaus recognize when you have a mortgage inquiry that you are likely shopping for a mortgage.

They give you a 14 day period of time starting with the first pull to have as many mortgage credit pulls as you want, and they will only count the first inquiry against you.

My advice is that if you are shopping for a mortgage let your loan officer pull your credit. It won't have a terrible effect on your credit scores.

...and your loan officer can't give you accurate numbers without it.

That's it for today!

 

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.

The Key To Getting Mortgage Insurance With A High Debt To Income Ratio…

One of the most conservative areas of the mortgage market the last few years has been Mortgage Insurance on conventional loans.

When I say conservative I mean the MI companies for a long time wouldn’t give Mortgage Insurance coverage to an borrower with higher than a 45% debt to income ratio. (…and many still don’t!)

…Remember, if you are getting a conventional loan and your loan to value ratio is over 80% you will need Mortgage Insurance.

I wanted to let you know that I now have the ability to get Mortgage Insurance for your conventional loan if your debt to income ratio exceeds 45%!

…The key to exceeding this threshold is that I have to be able to get an automated approval on your loan at a higher debt to income ratio than 45%.

So, if you are in this situation let me run your file through the automated system and let’s see if we get an approval!

That’s it for today!

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.