Category: Free Guides to Share
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Mortgage Checklist
Here is a basic checklist of what you’ll need to apply and get approved for a mortgage. Completed loan application Fannie Mae Form 1003 Letters of explanation (LOE) for past credit issues, gaps in employment, living with parents (no recent rental history). It’s in your best interest bring attention to any past issues up front…
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What it Takes Home Mortgage Loan Approval – Income
This will be the first article in our new section “What It Takes To Close A Home Mortgage Loan” While researching home ownership, home loan approval, various mortgage guidelines you’ll notice many articles that just do not seem to make sense in today’s marketplace. That’s because they do not. Many webmasters do not update…
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How tough is FHA manual underwriting?
It’s freaking brutal….but so is all underwriting right now. Remember the underwriters’ job is to assess risk and uncover any reason NOT to make a loan. The best way to get through underwriting any home mortgage loan other than private hard money (that’s still super easy) is to be prepared with all of the paperwork…
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Short Refinance Program
This is for borrowers who are upside down and are NOT currently financed with FHA. Short Refi / FHA Refinance of Borrowers in Negative Equity Positions • 560 Minimum credit score required • The borrower must be current on the existing mortgage to be refinanced • All borrower(s) must occupy the subject property as their…