A better question….can you use the projected rental income on your current home if you plan to convert it to a rental property when you buy your new home? The short answer….YES! The long answer….YES…and NO! It really depends on a number of factors, let’s break them down. Here’s the scenario – you’re shopping for […]Read More Can you use projected rental income on your Primary Residence to qualify for a Home Loan?
With all the noise the doom and gloom media is making about tightening credit restrictions and rising interest rates, many homebuyers have been led to think low down payment loans are a thing of the past. Make no mistake, there are many programs still available. One often-overlooked loan program belongs to the U.S. Department of […]Read More USDA Zero Down Payment Home Loans!
On Jan. 10, the Consumer Financial Protection Bureau (CFPB) rolled out new rules governing how mortgage lenders originate loans. The regulations are designed to prevent shady or predatory lending and otherwise protect consumers. Financial institutions have been preparing for the changes for months. The big fear is that potential homebuyers will be blindsided. What do […]Read More ABILITY TO REPAY and QUALIFIED MORTGAGES: The new challenges for homebuyers (and their agents)
Many families have fallen victim to the economic crisis over the last few years. Additionally, many families have fallen victim to ‘life events’ – such as divorce, job loss, a disability, and the list goes on. Unfortunately life does not exempt military families from such events. As such, one of the results of ‘life events’ […]Read More Can I Get a VA Loan After Foreclosure?
In an attempt to not paint a grim picture…..I’m compelled to paint a grim picture. As forecasted in Real Estate Agent Beware! more and more ‘refinance boomer’ mortgage companies will move towards ‘purchase’ business to survive and, well, the domino of train wrecks will commence. It is because of this, my friend, that I felt led […]Read More 6 Steps to a Successful Mortgage Closing