Tag: relocation

Relocating and VA Occupancy Rules

Question: My VA client works for the government and is being transferred to another location next spring. They would like to buy a home in their new town in advance of the transfer. How far in advance of the new job starting, can they can execute that purchase? Answer: VA has a unique perspective on […]

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Freddie Mac Selling Guide Updates – Bulletin 2019-17 – Dated August 7, 2019

Written by: Lloyd Rutherford, Staff Writer This Freddie Mac update offers some great nuggets of education and sales opportunities in your market. Read through this update to find out more. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. The […]

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Fannie Mae Selling Guide Announcement SEL–2019-06 – Dated July 3, 2019

Written by: Lloyd Rutherford, Staff Writer Important updates from Fannie Mae’s seller bulletin, especially for those of you working with HomeReady® Buyers! Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. The updates announced in this Selling Guide Announcement that […]

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FHA – FHA Expected Income – Relocation: Can we use the income when a client is transferring with the same company, but different job, and will not have a paycheck prior to closing?

Answer: FHA would allow the new income to be used for qualifying per their Expected Income guideline below.  If you can comply with this guideline, then the income should be acceptable. Reference: 4000.1, II, A, 4, c xii (L) Expected Income (TOTAL) (1) Definition:  Expected Income refers to income from cost-of-living adjustments, performance raises, a new job, […]

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