Maintain Your FICO Score with Balance Transfers

Boosting you credit can take time, patience, and effort.  A tool to consider when boosting, or even maintaining your credit is balance transfers. Here are some important things to remember when considering a balance transfer. Consolidating simplifies payments.   Some...

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USDA: Rural Housing Guaranteed Loan

The Guaranteed Rural Housing Loan Program is offered through the Rural Housing Service (RHS), an agency of the USDA. The program is designed to help low-to-moderate income families achieve home ownership in eligible rural areas.  To see see eligible areas click here....

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Exciting New Changes in the Mortgage World…

There has been some changes on unreimbursed employee business expenses! The following changes and clarifications have been made on Conventional Loan related to unreimbursed employee business expenses. For a borrower who is qualified using base pay, bonus, overtime, or...

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Buying a home? On Maternity Leave?

Maternity leave from work is generally short in duration and borrowers on temporary leave may or may not be paid during their absence from work. Employment Requirements. If a lender is made aware that a borrower will be on maternity leave at the time of closing of the...

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Student Loan Payments

FHA has taken away the option to not count student loan debt against borrowers if the student loans are deferred or in forbearance, effective September 14, 2015. Mortgage Application with Contracts Before 9/14/2015 Will use actual documented loan payment If deferred...

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FICO Scores and the 5 Categories

Understanding Your Fico Score  FICO scores are used to determine if you are creditworthy when applying for a loan.  My team and I believe the first step to enhancing your credit score is understanding what factors are driving your score.  Today I am going to focus on...

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China Does it Again: Mortgage Rates Holding Steady

CHINA DOES IT AGAIN We’re lucky that mortgage rates aren’t rising on pace with China’s economic influence. In fact, rates aren’t rising at all, because last week the People’s Bank of China devalued its’ currency twice in two days. This makes Chinese exports cheaper in...

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FHA Loan Limits (2015)

2015 FHA Loan Limits        Even though 2015 is half way over I thought it would be important to post this again.  I have many buyer looking on the border of different counties and often forget once they cross over to another county the loan limits may change.  If you...

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