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Recent Articles

Dec
19
2014
Lowered Fannie Mae and Freddie Mac Down Payment Requirements
We have some big news for the mortgage industry: Fannie Mae and Freddie Mac down payment requirements have been lowered!  The down payment requirements used to be a standard minimum of a 5% down payment, but it has now been lowered to a 3% down payment.  These new minimum down...
Dec
05
2014
What Do I Need To Know Before Renting My House?
If you're a homeowner, there may be a time where you need to rent out your home for career reasons or to gain some extra cash flow. If you are going to rent out your house, here are some quick tips you need to know: Get an Insurance Policy. Before you rent out your home, you will need to get an...
Nov
11
2014
Behind on Your Mortgage? Learn About Government Options
If you are behind on your mortgage, there is a program for you called HAMP that can easily help you.  Here are the five most common HAMP FAQ Questions: Q: If I already have a HAMP modification that exists, can I use the new principal forgiveness program? You could...
Nov
07
2014
Using Gifted Funds for Your Down Payment
Many people who want to purchase a home often cannot do so because they cannot afford the down payment.  It can take buyers years and years to save up for a down payment, but there is another option: gifted down payments.  This means that part or all of the down payment is made as a...
Nov
03
2014
Buying a Bank Owned Property
If you want to purchase a home, you might want to look into buying a bank owned property.  A bank owned property is a home that has become the property of the lender after as a result of the home not selling after foreclosure.  Bank owned properties make up a large portion of the...
Oct
14
2014
Home Renovation Loans: Fannie Mae HomeStyle and FHA 2013k
If you own a home or are planning on owning a home in the near future, there’s a chance that you might want to perform some home renovations. Or you could be planning on purchasing a "fixer-upper." Luckily, there are specific loans for these exact purposes called...
Oct
09
2014
Buying a Condominium and HOAs
If you’ve never before purchased a home, you may be thinking about buying a condo. Condos are great because they allow first time home buyers to enter the housing market with relative ease. However, there are some unique circumstances that come along with buying a condo:...
Oct
03
2014
Watch Out for Refinance Obstacles!
Refinancing your mortgage is usually easier than getting a new mortgage, assuming you're able to refi in the first place. However, refinancing can still be difficult if you don’t handle common problems in the correct way. Here are five refinance obstacles to watch out for...
Sep
25
2014
Calculating Debt to Income Ratio
Your debt-to-income ratio or  DTI is the resulting percentage of dividing your monthly liabilities by your monthly income. Lenders use this number to qualify you for a specific mortgage loan amount. Most mortgages now have a maximum back-end DTI ratio of 43% as a result of the new...
Sep
19
2014
Should I Lock My Mortgage Rate Now?
It’s no secret that mortgage rates are constantly fluctuating.  This can be tricky for home buyers who are waiting to buy until they can secure the lowest possible rates. You may be watching the numbers go up and down by a few hundredths of a percentage point here and...
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