No Appraisal on Purchase Home Loans

No appraisal required by a mortgage lender on a purchase transaction?  It's true and now allowed on certain Conventional home loan backed purchases.  This may sound familiar as appraisal waivers have been allowed on refinances since late 2016.  To have appraisal waivers available on Conventional home loans for purchase transactions is giant step toward sense and sensibility. The appraisal waiver for purchases upgrade to Conventional home loans impacts both Fannie Mae AND Freddie Mac backed … [Read more...]

No Seasoning Cash Out Home Loan

Savvy buyers often pay cash for a property for a number of reasons.  Cash purchases present a strategic advantage when buying a home.  Cash purchases can leverage a lower price and or can be more attractive than a competing financed offer. The challenge in the past is that paying cash has tied up an investor's liquid resources.  This can limit an investors ability to leverage financing in order to strengthen their investment portfolio.  It can also hijack opportunities to use cash for other … [Read more...]

Arizona Home Loan Pre-Qualification Form

The Arizona Real Estate market requires home-buyers to provide a state specific document from their Arizona Mortgage Lender to "prove" that they are pre-approved for a mortgage.  The evolution of this document has been the subject of much debate.   The latest and greatest version of this powerful document is called a "Pre-Qualification Form." Take a peak at what the Arizona PQF: Arizona Pre-Qualification Form.  Whether you are buying in Chandler, Mesa, Gilbert, Tempe, Scottsdale, Sun Lakes, … [Read more...]

Home Loan Rules Eased

Many home-buyers will soon be able to borrow more AND more self employed home loan applicants will be able to use 1 year's worth of tax returns to qualify (instead of 2 years).  Fannie Mae is tweaking its self-employment and debt to income ratio requirements on Conventional Home Loans at the end of July (July 29th, 2017). Debt to Income Ratio Max to Loosen Currently, Fannie Mae (and Freddie Mac) both allow certain home loan applicants to go up to a total (or "back end") debt to income … [Read more...]

VA Escrow Holdback Renovation Loan

VA - Renovation Escrow Holdback Loan is now an option for eligible veterans.  The VA Renovation home loan option is similar to FHA 203k, HomeStyle, escrow holdbacks and Jumbo Renovation Loans that we offer  for eligible veterans using a VA Home Loan. Apply for a VA Home Loan Now Team@JeremyHouse.com 602.435.2149 Veterans can use this VA Escrow Holdback Renovation loan to finance the cost of either required repairs and/or desired improvements to a home.  The great news is that this … [Read more...]