Cash Out Refi to Consolidate Student Loans

Every college graduate wants student loan payments to disappear.  However, unless you know David Copperfield, they aren't vanishing anytime soon. A cash out refinance is the next best option to make student loans disappear. Apply for a Home Loan Team@JeremyHouse.com 602.435.2149 Learn more: deferred student loans and home loan approval Cash Out Refinance to Pay Off Student Loans Graduates with enough equity in their home can use that equity to pay off their student loans. This type of … [Read more...]

Refinance a Mortgage You’re Not on

Did a family member or friend purchase a home in their name for you because of a prior short sale, foreclosure or bankruptcy on your credit?   Well, there are countless people out there today who did just that.  With the Real Estate bubble behind us, refinancing the home over into your name is easier than ever. Apply for a Home Loan Team@JeremyHouse.com 602.435.2149 Refinance Home Loan Your Not on Into Your Name So many people are trying to transfer the house family bought "for them" into … [Read more...]

No Appraisal for Conventional Purchase Home Loans

Every once in a while, wouldn't it be great to just skip the whole appraisal process?  Maybe not every loan, but a break here and there would make lending simpler.  Well, finally the time has come!  As of Sept, 2017 appraisal waivers are allowed on Conventional home loans (see below for eligible scenarios). Apply for a Home Loan Team@JeremyHouse.com 602.435.2149 What is an Appraisal Waiver? In short, appraisal waivers are like a fast pass at Disney World!  They allow mortgage lenders to … [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...]

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 Since Monday March 6, 2017 Freddie Mac is allowing Real Estate Agents to use … [Read more...]