Good Morning!
I wanted to let you know that I can do USDA loans down to 600 again!
...Remember the USDA loan is a 100% loan with no monthly mortgage insurance!
For a while there the credit score requirement for this program was 620, but now it's back to 600.
The key for this program is there are geographic and income restrictions.
...To see if you qualify for this program just shoot me an email, or give me a call.
I can tell you really quickly if we can get you on this no money down program!
I hope you have a good day today. Thanks for reading!
Brett
Wednesday, July 27, 2011
Monday, July 25, 2011
The Credit Scores You REALLY Need To Know Before You Buy A House...
Good Morning!
Do you know what your mortgage scores are?
The scores you get from www.freecreditreport.com, and other services like it will only tell you what your consumer credit scores are. ...This isn't enough.
95% of the time your mortgage credit scores will be different, and sometimes significantly different.
...I see it every day.
You don't want to go put earnest money down on a house - thinking you have good credit if you haven't seen your mortgage credit scores.
One easy way to see your mortgage credit scores is to simply to go www.loansdonequickly.com, click on "apply" and fill out the quick application...
...it will give you an opportunity to run your credit right there, and I will let you know your mortgage scores.
I hope you have a good day today. Thanks for reading!
Brett
Do you know what your mortgage scores are?
The scores you get from www.freecreditreport.com, and other services like it will only tell you what your consumer credit scores are. ...This isn't enough.
95% of the time your mortgage credit scores will be different, and sometimes significantly different.
...I see it every day.
You don't want to go put earnest money down on a house - thinking you have good credit if you haven't seen your mortgage credit scores.
One easy way to see your mortgage credit scores is to simply to go www.loansdonequickly.com, click on "apply" and fill out the quick application...
...it will give you an opportunity to run your credit right there, and I will let you know your mortgage scores.
I hope you have a good day today. Thanks for reading!
Brett
Wednesday, July 20, 2011
This Little Known About Loan Program Only Has A 3% Down Payment!...
Good Morning!
Fannie Mae has a little known about program that they designed to compete directly with FHA.
It's called My Community mortgage, and it has some advantages over FHA.
1) One advantage is that the down payment is lower on My Community. ...Only 3% vs 3.5% for FHA.
2) My Community allows for loan amounts up to $417k - compared to a max of $271,050 in most Texas counties for FHA.
3) No up front mortgage insurance on My Community, compared to 1% up front mortgage insurance on FHA.
To be fair FHA does allow a higher seller help amount than My Community (6% compared to 3%).
However, there are many circumstances where the My Community program flat out beats FHA.
If you are looking to purchase a home - you need to check with me to see which program is best for your scenario.
Many loan officers just aren't familiar with the My Community program, and often times the borrower is worse off for this lack of knowledge.
Have a great day! Thanks for reading!
Brett
Fannie Mae has a little known about program that they designed to compete directly with FHA.
It's called My Community mortgage, and it has some advantages over FHA.
1) One advantage is that the down payment is lower on My Community. ...Only 3% vs 3.5% for FHA.
2) My Community allows for loan amounts up to $417k - compared to a max of $271,050 in most Texas counties for FHA.
3) No up front mortgage insurance on My Community, compared to 1% up front mortgage insurance on FHA.
To be fair FHA does allow a higher seller help amount than My Community (6% compared to 3%).
However, there are many circumstances where the My Community program flat out beats FHA.
If you are looking to purchase a home - you need to check with me to see which program is best for your scenario.
Many loan officers just aren't familiar with the My Community program, and often times the borrower is worse off for this lack of knowledge.
Have a great day! Thanks for reading!
Brett
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