No Seasoning Cash Out Home Loan

No Seasoning Cash Out refinance products allow savvy buyers who paid cash for a property to recoup cash immediately.  Cash purchases provide price leverage.  Also, they tend to be more attractive than competing financed offers.  However, paying cash ties up liquid resources limiting investors ability to leverage.  The No Seasoning Cash out Refinance is a great solution to this common conundrum. Apply for a No Seasoning Refinance 602.435.2149 No Seasoning Cash Out … [Read more...]

Home Loan Rules Eased

Debt to income ratio limits are now higher than before.  In addition, many self employed borrowers are able to get away with just 1 years' tax returns. Why you ask?  Fannie Mae relaxed their self-employment and debt to income ratio requirements in July of 2017. Debt to Income Ratio Max to Loosen Prior to the July 2017 change Fannie Mae and Freddie Mac allowed certain home loan applicants to go up to a total debt to income ratio of 50%.  Borrower had to posses strong qualifying … [Read more...]

Deferred Student Loans on a Home Loan

Has a deferred student loan derailed your home loan pre-approval?  Do not give up yet!  Many mortgage lenders are dazed and confused by the many recent changes with deferred student loans.  Whether it be on a Conventional Loan, FHA Loan or VA Loan there are multiple methods a lender can use to calculate deferred student loan payments on a home loan application. Apply for a Home Loan 602.435.2149 Deferred Student Loan Mortgage Trouble? Calculating and omitting student … [Read more...]

No Credit Required Home Loan

Before you shame the mortgage industry please read on.  While reminiscent of the "anything goes" mortgage era, "No Credit Score Needed Mortgage" is not a free pass to those with a pulse. First of all, a home loan option for those without credit scores exists.  However, no credit score requirement is not the same as no qualification requirements.  In fact, no credit score required does not even mean that credit history review is wavied (see below for more).   The no credit score requirement … [Read more...]

Removing Mortgage Insurance Conv

When do your monthly mortgage insurance payments go away?  The answer may not be what you think.  Many believe Conventional mortgage insurance payments end when they reach the 20% equity mark.  While that is true in some cases, it is not in every case.  There are two methods to eliminate mortgage insurance payments (without having to refinance): Through your mortgage servicer OR By the HomeOwners Protection Act (HPA) Learn more about eliminating FHA Mortgage Insurance 2 Ways to End … [Read more...]