Tax Liens & Judgments May Fall off Credit July 2017

Tax Liens & Judgments on Credit Going Away? If you are one of millions of Americans who have an inaccurate tax lien and/or civil judgment on your credit - your time may have finally come!  The 3 major credit reporting agencies (Experian, Equifax and TransUnion) are improving their models effective July 1, 2017 (according to the Wall Street Journal). Whats Happening and When - Judgments & Tax Liens off Credit According to, starting July 1, 2017 the major credit reporting … [Read more...]

Fed Rate Hike | Mortgage Rates Fall – 03/15/2017

Fed Funds Rate UP & Mortgage Rates DOWN Hot off the press, the Fed voted 9-1 to hike the Fed Funds Rate by .25% today – and mortgage rates dropped considerably immediately.  The notes from the Fed’s meeting today also indicate they are planning 2 more possible Fed Funds rate hikes in 2017 (depending on economic data and indices such as inflation). With our current economic and political environment, this rate hike has and will have more press than most.  While many hear “rate hike” … [Read more...]

Real Estate Commission Used for Down Payment

Real Estate Commissions Used for Down Payment - YES! Home loan guidelines seem to be in a period of flux currently.  Many of the changes are favorable and ease the loan approval process.  One change that was long overdue is to allow Real Estate commissions to be used for down payment on a personal transaction.  While this has not changed with each and every loan type, Freddie Mac has made a change and now allows this. Real Estate Agent’s Commission & Down Payment As of Monday March 6, … [Read more...]

VA – Veteran Closing Costs Paid By Seller

AZ Purchase Contract & VA Seller Paid Closing Costs The most common financing question resulting from new AZ Residential Real Estate Contract is "how much and what fees does a seller have to pay on a VA loan/offer?".  The short answer now is almost always going to be $0 (see below for more).  There are 2 fees that are leading the pack when it comes to uncertainty in the market's mind:  1. ESCROW FEE   2.TERMITE REPORT FEE ESCROW FEE In the old AZ Real Estate contract lines 83-85 … [Read more...]

FHA Cancels Mortgage Insurance Cut

FHA Cancels Plan to Lower Monthly Mortgage Insurance As of 01/20/2017 FHA has put a hold on the update below.  We will update this if/when the situation changes. FHA is lowering monthly mortgage insurance costs by 29%.  In layman unfriendly terms, the mortgage insurance factors used to calculate monthly mortgage insurance on an FHA are decreasing by 25 basis points on the 3.5% down/30 year fixed FHA loan program (other programs and high cost loans have different change schedules).   The … [Read more...]