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...]

No Seasoning Cash Out Home Loan

Savvy buyers often pay cash for a property for a number of reasons.  Cash purchases provide price leverage.  Also, they tend to be more attractive than competing financed offers.  However, paying cash ties  up liquid resources and limits an investors ability to leverage.  Finally, there is a solution to this common conundrum.Apply for a No Seasoning Refinance Team@JeremyHouse.com 602.435.2149 No Seasoning Refinance Cash-Out First of all, home-buyers must typically wait out a long 6 month … [Read more...]

Arizona Home Loan Pre-Qualification Form

In Arizona, home-buyers must provide a state specific document from their Arizona Mortgage Lender.  The from validates that they are pre-approved for a home loan.  This powerful document is called a "Pre-Qualification Form" or "PQF" for short.Take a peak at what the Arizona Pre-Qualification Form.  Whether you are buying in Chandler, Mesa, Gilbert, Tempe, Scottsdale, Sun Lakes, Queen Creek, Avondale, Glendale, Tucson, San Tan, Ocotillo, Phoenix or any other city in Arizona - you will need a … [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...]

VA Escrow Holdback Renovation Loan

For years, veterans have been without a VA Renovation mortgage option.   Well, that wait has come to a glorious end!  Welcome to the era of the VA Renovation home loan.  Apply for a VA Home Loan Now Team@JeremyHouse.com 602.435.2149The VA Renovation loan resembles an FHA 203k or HomeStyle home loan.  With it, veteran's can finance repair and renovation costs into their home loan.  Furthermore, VA Renovation loans are for both purchases and refinances. VA Renovation Loan Based on … [Read more...]