Nice to Know!  VA does not charge Mortgage Insurance, but they do charge a Funding Fee in order to Guaranty the loan.  This funding fee can be financed into your loan amount, and in some cases, disabled Veterans are exempt from the funding fee.  If you are a Veteran dreaming of owning a home, let’s talk and make it happen!

Related Article Title: Financing the VA Funding Fee Question: Is it true that VA is no longer allowing the Funding Fee to be added to the base loan amount? Answer: I assure you that is not the case. The funding fee can still be added into the loan.  Reference: Chapter 8 – Section 7a. For […]

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Did you know that a seller will sometimes contribute closing costs to a person buying their home in order to help make purchasing that home easier? Don’t fall for the myth that it takes a lot of money to buy your next home.  Let’s discuss your situation and I’ll help you make a plan!

Related Article Title: Excess Seller Contributions Applied to Paying Off Debt Question: If I have excessive seller contributions, can they be used toward borrower debt being paid off at closing? Answer: Unfortunately, not. Only VA allows a seller to pay off a borrower’s debts. Reference: 4000.1 II.A.4.d.iii.(H) and II.A.5.c.iii.(H)  Inducements to Purchase are treated the […]

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If you work in the Marijuana/Cannabis Industry and are a W-2 employee, there are home financing programs available.  However, the Federal programs such as FHA, VA and USDA will not consider your income because of the illegality at the Federal level, despite what the state legalizes.  If you work in this industry, let’s talk and I’ll help your find the right program!

Related Article Title: Will Government Agencies Allow Marijuana Income? Question: Do any of the Government loans (FHA, USDA and VA) allow the use of W-2 income from a Borrower who works at a Marijuana company? This person is not a grower or distributor and all of their income is derived from W-2 income. Answer: As […]

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Freddie Mac just announced that credit scores will not be required to purchase a manufactured home. Instead a lender can establish a borrower’s credit using non-reported credit such as rent, utilities and other reoccurring monthly obligations. This is effective for closings April 1, 2020 or after.

Freddie Mac just announced that credit scores will not be required to purchase a manufactured home. Instead a lender can establish a borrower’s credit using non-reported credit such as rent, utilities and other reoccurring monthly obligations. This is effective for closings April 1, 2020 or after.

Related Article Title: Freddie Mac Selling Guide Update – Bulletin 2019-25 – Dated December 4, 2019 – Updated MTP™ – GreenChoice® Home Loans – Energy Efficient & Earth Friendly Written by: Lloyd Rutherford, Staff Writer There are some game-changer updates in this article that will give you the edge over your competition if you read […]

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Freddie Mac will be LOWERING their minimum credit score requirements for purchasers of manufactured homes! Effective for closings April 1, 2020 or after. Not sure if you qualify for a home?  I’m just a quick phone call away!

Freddie Mac will be LOWERING their minimum credit score requirements for purchasers of manufactured homes! Effective for closings April 1, 2020 or after. Not sure if you qualify for a home?  I’m just a quick phone call away!

Related Article Title: Freddie Mac Selling Guide Update – Bulletin 2019-25 – Dated December 4, 2019 – Updated MTP™ – GreenChoice® Home Loans – Energy Efficient & Earth Friendly Written by: Lloyd Rutherford, Staff Writer There are some game-changer updates in this article that will give you the edge over your competition if you read […]

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