Social Media Posts

Fannie Mae will allow Accessory Unit or Boarder income on their HomeReady program. For some clients, this extra income makes a big difference. Comment below, and I’ll send you a fact sheet.

Related Article Title: Fannie Mae – Multiple FAQs – High LTV & HomeReady® Written by: Lloyd Rutherford, Staff Writer HomeReady may have changed their AMI requirements, but did you know that there are other ways to structure the loan to assist your clients? Learn the secrets from our expert in this article. Rule Synopsis: Fannie [...]

2019-08-09T13:16:52-05:00August 12th, 2019|Fannie Mae, Social Media Posts|

VA has issued multiple bulletins which have substantially changed their Interest Rate Reduction Loans. Before you apply for a VA refinance, contact me first and let’s review those changes to make sure the program still works for you!

Related Article Title: VA Circular 26-19-22 Clarification and Updates to Policy Guidance for VA Interest Rate Reduction Refinance Loans (IRRRLs) – Dated August 8, 2019 -Updated VA Refinance Comparison Chart Written by: Tracey Rumsey, Staff Writer VA issued a major update for IRRRL. Any production staff involved in the VA loan process needs to become [...]

2019-08-09T13:26:38-05:00August 12th, 2019|Social Media Posts, VA|

A large percentage of the population is nearing or at retirement age. If you are considering downsizing or evaluating your current mortgage, I can assist you by helping to navigate all of the loan requirements for retirement income, pensions and assets as income. Contact me to discuss your plan.

Related Article Title: Fannie Mae’s Top Trending Questions – Dated May 2019 Written by: Lloyd Rutherford, Staff Writer Keeping up with rule changes is a challenge for even the most experienced underwriter or originator. That is part of the value of Mortgage Currentcy! In this article, Fannie Mae has updated their “trending questions” to keep [...]

2019-08-09T13:13:08-05:00August 12th, 2019|Fannie Mae, Social Media Posts|

If you receive overtime income, lenders will look at something called income trending. This tells a lender if the overtime is consistent or trending up or down. How much of the overtime they allow to qualify for a loan depends on how the income is trending.

Related Article Title: How do I calculate overtime income on a conventional loan? Answer: If your lender is willing, and the trend is increasing, the most amount of income you could use for OT for a borrower would be your 2018 + YTD approach.  The income is trending up and appears consistent, but the overall [...]

2019-07-24T10:42:27-05:00July 25th, 2019|Fannie Mae, Social Media Posts|

Did you know that there are mortgage refinance programs that allow you to fix your home in the event of a disaster or add preventive upgrades just in case of a disaster? If this sounds interesting to you, let’s talk!

Related Article Title: Does Fannie Mae have an Energy Efficient Mortgage option? Answer: Yes, they do. This can be found in their selling guide, section B5-3.3-01. Reference: B5-3.3-01, HomeStyle Energy for Improvements on Existing Properties (06/05/2018) Overview There are a number of HomeStyle Energy financing options available to a borrower who wishes to improve the [...]

2019-07-24T10:49:25-05:00July 25th, 2019|Fannie Mae, Social Media Posts|