After a three year period (2004 -2007) of declining credit standards the mortgage lending industry has had to fight and claw its way back into good graces with both their regulators and investors. All this while swimming in a sea …

Where’s the Best City in America to get a Mortgage? Read more »

Because of the plethora of natural disasters across the country it occurred to me that there may be a lot of Buyers and Sellers whose purchase or sale or mortgage refinance has been delayed for reasons they simply do not understand. This post is intended to be an …

FEMA Declared Disaster Area – Loan Application in Process Read more »

Recently the word Republican, like “Banker” has been used interchangeably to disparage and slander (and is often incorrect) my business but what made this stand out to me was how he said it. It was almost as if it was a disparaging remark and he was sorry for having used it!

Due to the recent crisis of confidence by mortgage investors the zero down-payment loan programs disappeared faster than a keg of beer at a frat party!  Apart from VA and USDA Rural Development loans there are very few true 100% …

Loans for First Time Home Buyers Read more »

USDA RURAL DEVELOPMENT GUARANTEED RURAL HOUSING NEWS From the National Office in Washington DC June 15, 2011 GUARANTEED LOAN FUNDING UPDATE:  SUMMER SIZZLES!   GUARANTEED LOAN VOLUME UP!  PLENTY OF FUNDING AVAILABLE!    The Single Family Housing Guaranteed Loan Program (SFHGLP) …

$14 Billion in No Money Down Guaranteed Loans for Rural Homebuyers Read more »

The USDA is begging for people to borrow their money! The program will be undergoing significant changes in October with the introduction of a monthly PMI. Until then they have plenty of money and are eager to lend it; GUARANTEED …

$24 BILLION DOLLARS ALLOCATED FOR GUARANTEED LOANS! Read more »

Veterans Loans The fact that a bankruptcy exists in an applicant’s (or spouse’s) credit history does not in itself disqualify the loan.  Develop complete information on the facts and circumstances of the bankruptcy.  Consider the reasons for the bankruptcy and the type of bankruptcy …

Underwriting Tip – Bankruptcy Waiting Periods – VA Read more »

three little known down payment grants for home buyers in Raleigh North Carolina