If you’re among the more than 7 million of US home-owners who are expected to qualify under the expanded guidelines, there are several preparatory steps you need to take to ensure your application is reviewed first. Our assumption is that lenders will be absolutely DEVASTATED with new refinance applications in the coming months, underwriters will [...]
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Archive by Author
I’m giving myself a PROMOTION today…
December 4, 2011
1 Comment
I was reading a few blogs last night and saw some from some “mortgage guys” and I saw a few different titles that intrigued me. If you’ve read any BLOGS on the difference between a LICENSED Mortgage Loan Originator and REGISTERED Mortgage Loan Originator than you know that anyone who is writing loans is a [...]
Read moreFHA Loan Limits going DOWN in the Mpls/St Paul metro on October 1st!!!
September 7, 2011
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Well… as we all know our economy is looking SO GOOD that it may make lots of sense to LOWER the current FHA loan limits in less than a month right? Here in the Mpls/St.Paul MSA borrowers purchasing power with FHA loans is being reduced by almost $50,000 very soon. The loan limit for MOST [...]
Read moreSeller Contributions Towards Closing Costs on a Home Purchase
June 16, 2011
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Doesn’t the Seller Pay for All of Our Closing Costs? We all have to remind buyers that they are responsible to pay the required down payment percentage (3.5% for FHA or 3-10% etc for Conventional) AND their closing costs/pre-paids too. Even if you stipulate that the sellers contribute towards “closing costs and pre-paids” in the [...]
Read moreUSDA changes coming October 1st 2011
April 20, 2011
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USDA Rural Development home loans were designed to help improve the economy and quality of life throughout rural America. The program continues to remain a wonderful option for qualifying homebuyers, with no down payment required. As of today… this is the LAST of the true NO MONEY DOWN loans unless you qualify for a VA [...]
Read moreOwn a Home or Rent? Why am I asking this???
January 31, 2011
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Trulia put this article out on Monday… CLICK HERE if you want to read it. Here’s the details: Trulia compared the median list price of a two-bedroom home with the median price paid for rent in 50 cities. The company then assigned a price-to-rent ratio to each city, with any number below 15 signifying a [...]
Read moreMortgage Insurance IS tax deductible… still.
January 15, 2011
1 Comment
There is some good news for those of you with mortgage insurance. As part of the tax bill recently passed by Congress… mortgage insurance premiums will remain FULLY tax deductible for those with a household income of less than $100,000. Those with a household income of $100,000-$109,000 may be able to qualify for a PARTIAL deduction. [...]
Read moreBank LO’s vs SAFE Brokers and Lenders… oh my!
November 25, 2010
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Alright, alright, alright… MOST everyone in Mortgage and Real Estae has heard about the S.A.F.E Act right? The Secure And Fair Enforcement for Mortgage Licensing Act was passed into law a while back but in last stages of being implemented RIGHT NOW. There’s a bit of a rush going on right now as its supposed to be [...]
Read moreWaiting Periods on Bankruptcy, Foreclosure and Short Sales
November 2, 2010
1 Comment
Since late 2007 and the MORTGAGE MELTDOWN started we’ve had many “inquiries” from prospective MN & WI buyers who’ve wanted to get into a new home or BACK into home ownership. The last couple years have been hard on many people even though the Federal Government says that the recession is behind us. People have [...]
Read moreHEY… remember that $8000 tax credit??
November 2, 2010
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I just closed a purchase transaction last week that was a SHORT SALE that was accepted WAY BACK in March. They buyer was hanging there partly because he wanted to get his $8000 tax credit and of course he REALLY liked the house. Amazing how much red tape we had to get through to get [...]
Read moreYour Local Lender
- Using a VA Insured Mortgage to Purchase a Home After a Short Sale
- Say Goodbye to the Lowest Mortgage Rates in History
- How to Choose and Calculate Your PMI (Private Mortgage Insurance)
- Understanding Agency (Who Represents Whom in a Real Estate Transaction) it’s Important, Overlooked and Misunderstood
- Purchase a HUD owned Home with the $100.00 Down Payment Incentive Program
- Buy House after short sale – Buy House | Top Appartments » Blog Archive: [...] options for buying home after short sale | I...
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Charles Dailey: This is a good one Amber. I ran into this once be...
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Amber: Hi Charles, My husband and I sold our home in M...
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Phil in Nebraska: Charles, We are in the process of purchasing a ...
- Buying a Home after a Short Sale – Don’t Believe the Naysayers
- Friends Don’t Let Friends Use Zillow, Trulia and Yahoo Real Estate to Find Homes for Sale
- FHA Mortgages: Enough Already!
- Minnesota Home Prices Headed for a Double Dip? – Don’t Believe the Hype
- Minneapolis & Saint Paul Housing Show Signs of Improvement
- Does Your Loan Officer Wear Lime Green Polka Dotted Underwear?
- Monthly Private Mortgage Insurance – It Doesn’t Make Any Sense. . .
- Wanna Be a Good Mortgage Applicant? . . Then it’s Time to Get Naked!
- Fannie Mae Guideline Changes – Gifts, 97% Financing and Mortgage Insurance
- First Time Home Buyers, Now that You’ve Opened “The Box”
- Using a VA Insured Mortgage to Purchase a Home After a Short Sale
- Say Goodbye to the Lowest Mortgage Rates in History
- How to Choose and Calculate Your PMI (Private Mortgage Insurance)
- Understanding Agency (Who Represents Whom in a Real Estate Transaction) it’s Important, Overlooked and Misunderstood
- Purchase a HUD owned Home with the $100.00 Down Payment Incentive Program
Authors
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Charles Dailey
- Using a VA Insured Mortgage to Purchase a Home After a Short Sale
- Say Goodbye to the Lowest Mortgage Rates in History
- How to Choose and Calculate Your PMI (Private Mortgage Insurance)
- Friends Don’t Let Friends Use Zillow, Trulia and Yahoo Real Estate to Find Homes for Sale
- FHA Seller Paid Closing Costs Reduction Announced
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Sherri Sherpy
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Steven Brand
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Deb - The Mortgage Lady
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Michael Dietrich
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Tom Garrity
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Joe Harvey MortgageJoe's Blog
- Understanding Agency (Who Represents Whom in a Real Estate Transaction) it’s Important, Overlooked and Misunderstood
- Purchase a HUD owned Home with the $100.00 Down Payment Incentive Program
- First Time Home Buyers, Now that You’ve Opened “The Box”
- Anyone you know struggling with mortgage payments due to unemployment?
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Tim Swierczek
- No posts
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