Happy Saturday! YES, Why Buy Real Estate? When you talk with a client and attempt to encourage them to buy real estate, whether it is their first home or a second home or an investment property what can you say that is convincing? When talking to a clerk, your auto mechanic, hairstylist, acquaintance or friend, what can you say or do that will captivate their attention or … [Read more...] about Why Buy Real Estate?
Happy Friday! One of those things that causes a big surprise to consumers is finding a collection on their credit report. Occasionally they are there because of simply ignoring a debt obligation. However more often than not, we see medical collections. These may show up due to ignoring a bill from the doctor's office or some related service that we are sure our insurance … [Read more...] about Paying off collections – Caution!
HANG ON TO THIS LIST! :) Veterans are one of the best types of buyers in the market place, with zero money down payment required up to 636,150, in OC and LA counties. However you can go above that loan amount with just a small down payment, usually less than 5% as well, and the rates are slightly better for VA loans and very few hits for lower FICO scores. Also, if the Veteran … [Read more...] about VA Allowable & Non-Allowable Fees
Happy Friday! FHA Property Flip Guidelines (Please note that agency/conventional loans do not necessarily have these rules, but many lenders have overlays that do have these restrictions...jumbos, some do some don't...always check with me first-our Fannie/Freddie Direct products/conventional, typically allow flipped properties) Once upon a time FHA didn’t have a … [Read more...] about FHA Property Flip Guidelines
Here are again some new enhancements to the FNMA Selling Guide, which are already effective as of July 29. I trust they will keep it coming! There is certainly more stuff to change! :) Alimony Income is Getting a Face Lift: Lenders will now have the option of reducing the borrower's monthly qualifying income by the amount of the monthly alimony payment in lieu of including … [Read more...] about New Enhancements to FNMA Selling Guide