Loans for Cash Rich Borrowers with Low Monthly Income
In 2016 a new loan program came out whereby the borrower does NOT have to be employed. In fact, there is no employment or income […]
Big Mistakes Borrowers Make Using Bank Statements as Income
With the Dodd-Frank rules, this law has impacted hundreds of thousands of legitimate self-employed borrowers from getting a residential home loan. It has for the […]
Zero Percent Balance Transfer on Your Mortgage?
Let’s look at how this would work with your mortgage balance. Example: A homeowner with stellar credit owes $150,000 at 4.75% and is paying $782.47 […]
FHA Mortgage Insurance Premium Hurting Pool of Home Buyers
The Federal Home Administration is being accused by the National Association of Realtors of making the costs of their mortgage insurance too excessive which has […]
Can I Deduct FHA Mortgage Insurance Premium on My Taxes?
The short answer is Yes, but with an attached disclaimer. No matter if the mortgage insurance premium (MIP) is added to the mortgage or paid […]
Can I Get A Mortgage without Tax Returns?
The short answer is YES you can. However, it will not be with a no income verification loan. The days of stated income and falsifying […]
Top Reasons to Refinance Before a Divorce
If you and your spouse own a home jointly and both are on the loan, refinancing your mortgage before divorce proceedings might be the best […]
Don’t Overlook These HARP Refinance Quick Answers
Is HARP available on Loans over $417,000? NO, loans greater than $417,000 are categorized as jumbo loans. HARP was made to help borrowers who are […]
Lenders Will Still Offer Loans With Some Risk
On Jan. 10, a new rule for residential mortgages becomes effective which is intended to protect borrowers and lenders from the problems brought on by […]
Do The New Restrictions On Investors Help Borrowers?
Without a doubt, real estate investors who carry-back a mortgage for homebuyers are going to be impacted in a big way by Dodd-Frank laws. On […]