More FHA Changes!!!

July Vid Screenshot 2

Big changes could be on the horizon for FHA loans. The House of Representatives just passed HR Twenty One Sixty Two also known as the Housing Financial Literacy Act of Twenty Nineteen. This would allow First Time Home buyers who complete a housing counseling program to reduce the Upfront Mortgage Insurance. Why would they do… [Read More]

iBuyer Platforms

June '18

For those that may not know, the term “ibuyer” is used to describe companies such as OpenDoor, Knock, and Offerpad to name a few. In certain scenarios, these can be great resources for a buyer who has an absolute deadline to get out of the home whether it be job relocation, bankruptcy, or whatever the… [Read More]

Cheap, Fast, & Easy!!

May Vid

Most of us want something cheap, fast, and easy. Unfortunately, getting all 3 is kind of a Unicorn. However, pick whatever 2 out of the 3 you’d like. Cheap and easy? Well, it may not be fast. Fast and Cheap? Well, may not be easy….you get the point. Out of fast, easy, and cheap…what are… [Read More]

BIG Changes to FHA Loans

April Vid Scrnsht

So on March 18th FHA made some big changes, specifically related to transactions with credit scores below 620. With these changes, borrowers with scores below 620, are far more likely to have their files Underwritten with more scrutiny not allowing the same leniency as before this change was implemented. The main result of this change…is… [Read More]

How will your credit score impact you buying a home?

RobYo

Most people think you have to have top notch credit in order to obtain a mortgage, and this just isn’t the case. Every loan program has a different credit score requirement. For example, a Conventional loan requires at least a 620, but FHA only requires a 580! When pulling credit, we pull all three bureaus…Equifax,… [Read More]

What are Closing Costs?

Feb Scrnsht

Closing costs are the portion of your investment in addition to the down payment. Some of these items may include an appraisal, attorney charges, property taxes, and homeowner’s insurance to name a few. You may even hear some of my competitors advertising ZERO closing costs, or that they will pay your closing costs for you…. [Read More]

What does a mortgage application consist of?

Jan Vid Screenshot

Your very first step before you even begin to look at homes is a loan application. A loan application can take a matter of minutes! The application helps determine your budget, loan program, as well as other important information crucial to your home buying process. Click the “Apply Now” button at the top of the… [Read More]

2018 Recap/2019 outlook

Dec Vid Screenshot

2018 was quite the year! We’ve seen interest rates volatile and home prices increase, causing affordability to be one of the biggest hurdles in home buying. There have also been fantastic changes to student loan calculations, as well as increased loan limits for different programs. Interest rate forecaster’s predict may hold around where they currently… [Read More]

MAJOR change to Student Loan calculations!!

Nov Vid Screenshot

Student Loan debt is hands down the #1 reason first time home buyers are holding off. Fortunately, there have been MAJOR changes by Freddie Mac in regards to this pain point. Check out this month’s video for additional helpful information!

What are Escrows??

Oct Vid Screenshot

An Escrow account is an interest free account that collects your homeowner’s insurance and property taxes through you monthly payment. When the time comes that these particular bills come due, your Escrow account pays them on your behalf. In some instances you may elect to waive escrows, but can depend on the loan program as… [Read More]