Tax Liens & Judgments May Fall off Credit

If you are one of millions of Americans with an inaccurate tax lien or civil judgment on your credit - your time may have finally come!  The 3 major credit reporting agencies (Experian, Equifax and TransUnion) improved their scoring models to help (according to the Wall Street Journal). Find out when negative info falls off credit 602.435.2149 What and When - Judgments & Tax Liens According to, starting July 1, 2017 the major credit reporting agencies are … [Read more...]

Fed Rate Hike | Mortgage Rates Fall

March 2017 -  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 indicate they are considering 2 additional 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” and and do not differentiate which rates were actually “hiked” … [Read more...]

Realtor Commission for Down Payment

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, 2017 Freddie Mac is allowing Real Estate Agents to … [Read more...]

VA Loan – Costs Paid By Seller

The most common financing question resulting from new AZ Residential Real Estate Contract is "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 required seller to pay the escrow fee on a VA home loan (see below).  That … [Read more...]

FHA Cancels Mortgage Insurance Cut

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 change is effective for all FHA loans that close on or … [Read more...]