What To Expect If You Change Jobs During The Mortgage Process...

 Hello!

I have many people apply for mortgages that have recently changed jobs.

Here are a few things to keep in mind if you or someone you know is about to change jobs and apply for a mortgage…

The underwriter will want to see your first paycheck 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

 

Get Pre Approved For A Loan Here
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Five Things You Probably Didn't Know About Thanksgiving...

 Hello!

Thanksgiving is next week.  Thought I would get a head start on the Thanksgiving talk...

Here’s five things you may not have known about thanksgiving:

1)  Historians have no record of turkey being eaten at the first Thanksgiving.

 

2)  Benjamin Franklin wanted the turkey as the national bird.

 

3)  Snoopy has made the most appearances in the Macy’s Thanksgiving Day Parade.

 

4)  The first professional Thanksgiving Day football game was played 1920.

 

5)  Each year, about 46 million turkeys are cooked.

Have a great Thanksgiving next week!

Thanks for reading!

Brett

 

Get Pre Approved For A Loan Here
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How To Buy A House With A Reverse Mortgage...

 Hello!

I’ve written about this before, but we have more and more people passing the age 62 threshold, so I wanted to show you how to buy a house with a reverse mortgage.

I had a borrower that was recently retired, and now living on a fixed income.

They owned their home free and clear, and lived in a small town not too far from Dallas.

Their home was worth around $150,000.

Both husband and wife decided they didn’t want to live their retirement years in their current home.

…they wanted to spend their retirement on or near a lake. …so, they found a house they liked on a near by lake for around $295,000.

They didn’t have the cash to buy the new home outright. …and, they didn’t really want to take on mortgage payments at this stage in their lives.

I suggested they use a Reverse Mortgage to purchase the home. Here’s how it worked…

They sold their current home and put down their proceeds from the sale as their down payment. Instead of getting a traditional mortgage to pay the difference between their down payment and the sales price – we used a Reverse Mortgage.

The result is they get to retire on a lake in a home worth twice what their old home was worth. They put down less than half the sales price. …and, they will never make another mortgage payment for the remainder of their lives!

Please shoot us an email or give us a call if you would like to explore how to use a Reverse Mortgage for you or someone you know.

That’s it for today!

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

Brett

 

Get Pre Approved For A Loan Here
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