HOME Plus Down Payment: 2 Very Different Versions

HOME Plus Program 2 Choices

HOME Plus Down Payment Assistance: 2 Options The HOME Plus Down Payment Assistance Program has been a great tool for those needing some down payment assistance.  When using the Conventional version of the program, there are 2 different varieties available.  One of the versions of this highly utilized down payment assistance program has lowered it's grant amount by 1%. HOME Plus - 2 Conventional Options The HOME Plus Program has several different varieties (FHA, VA, Conventional etc...). … [Read more...]

Deferred Student Loan Mortgage Solutions

Deferred Student Loans Alternate Solutions

Deferred Student Loans & Mortgage Approval If you have had the misfortune of having a student loan payment derail your home loan pre-approval, do not give up yet!  Far too many mortgage lenders do not keep up with the rapid changes with student loans.  Whether it be on a Conventional Loan, FHA Loan or VA Loan there are multiple methods a lender can use to determine what student loan payment needs to be counted against you.   Lets look at Conventional Financing and how to get through … [Read more...]

Pathway to Purchase | 2 Days That Count BIG TIME

Pathway to Purchase - 2 Days That Count

Sneakey 2 Days to Close On-Time with P2P The Pathway to Purchase Program has a subtle little teeny weeny guideline that if overlooked can quickly derail an on-time P2P closing.   This minor rule gets overlooked quite often based on the fact that other popular Down Payment Assistance Programs such as HOME Plus or HOME in 5 do not have this extra layer.  P2P requires this extra step based on the fact that Pathway to Purchase uses a Silent 2nd lien whereas many other Down Payment Assistance … [Read more...]

FHA Non Purchasing Spouse Debts in Arizona

FHA Non Purchasing Spouse Debt Arizona

FHA Rules & Non Purchasing Spouse's Debts in Arizona FHA has an often overstated rule that states that even if your spouse is not on your FHA home loan application, their debts, judgments and liens must be counted against you if you live in Arizona (or other community property state).  Ouch!  Talk about sparking some interesting dinner table talk. To add insult to injury, you cannot use the income of a spouse that is not actually on an FHA loan application.   However,  in many case … [Read more...]

VA Appraisal Turn-time and Mondays

VA Appraisal Process

VA Home Loan Appraisals - Plan Ahead A VA home loan is one of the best mortgage products available.  The VA appraisal process however is not the most efficient or convenient.  In fact, utilizing a VA mortgage requires careful planning and scheduling to ensure an on time closing.  The one leading that charge should be your VA loan officer.  There are some unique and quirky rules that apply to VA appraisals that if overlooked can cause costly delays. There are several factors involved with … [Read more...]