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HOMEREADY & HOMEPOSSIBLE Income & Property Eligibility
https://homeready-eligibility.fanniemae.com/homeready/ https://freddiemac.com/homepossible/eligibility.html ? Put the address of your subject property into the HOMEREADY & HOMEPOSSIBLE Income & Property Eligibility tool and if the income limit works for your loan then this product prices out MUCH better t
Purchase Power: Low-Down-Payment Mortgage Planning
Purchase power is more than a home-price estimate. It is the relationship among your available funds, monthly payment comfort, credit profile, debts, income, property type, and the mortgage options that can be reviewed for the complete file. NorthStar Funding helps borrowers identify those questions before they m
Bank Statement Mortgage Planning for Self-Employed Borrowers
Bank-statement mortgage planning can be a useful topic for self-employed borrowers whose business activity and documentation deserve a closer review. Bank statements are one type of record that may be considered; they do not by themselves establish qualifying income, product availability, or an approval outcome.
Last Week in Review
Last Week in Review: Consumers pull back on retail spending, while home loan rates hit their lowest levels of the year. Forecast for the Week: Housing and manufacturing will fight for a headline in the midst of geopolitical events. View: Activate those brain cells when you have 30 minutes. "I like spending
FHFA Calls For Big Changes to Fannie/Freddie Conservatorship
Federal Housing Finance Agency (FHFA) Director Mel Watt had three messages for the U.S. Senate Committee on Banking, Housing, and Urban Affairs on Thursday: Fannie Mae and Freddie Mac (the GSEs) are not the companies they were before they were put in conservatorship Congress needs to act urgently on housing fina
Creative Loan Financing Options
Call us today to review any of these creative loan offerings and requirements for each! 1. Agency Near Misses(Use Agency Plus for conventional and jumbo loans that don’t quite fit agency guidelines) 2. RE Investors(use DSCR to qualify - No personal income, no tax returns needed) 3. Self Employed(No W2,
Mortgage Planning for Complex Scenarios
Mortgage planning for a complex scenario starts with the facts that affect your own transaction: the property, occupancy, income, assets, credit history, existing obligations, and the documents available for review. A useful conversation identifies the questions that need evidence instead of assuming that one pro
Mortgage Rates Rise Gently From 7-Month Lows
Financial markets are still reeling from political headlines that first began circulating on Tuesday afternoon. While stock markets made a reasonable attempt to retrace yesterday's big move lower, bond markets weren't as interested. Fortunately, that means mortgage rates moved modestly higher, leaving t
RIP Forever Homes: Millennials More Inclined to Move
Say goodbye to the idea of a “forever home.” No, I’m not talking about taking home a rescue pup. Instead, I’m referring to the antiquated idea of buying that dream house and living there forever. A recent community survey from Taylor Morrison shows that over half (56 pe
MMG Weekly: Retail Sales and Housing Starts Disappoint
Last Week in Review: The cha-ching didn’t register at retailers in May. Housing Starts disappointed. Inflation remained tame. “Don’t bring me down.” Electric Light Orchestra. Despite gains in April, consumers slowed down their purchases in May. Remember: Weak economic news normally ca
Freddie Singing a Different Tune on Housing/Mortgage Outlook
On November 30, 2016 Freddie Mac's economists issued their monthly Outlook which, in light of the sudden surge in interest rates earlier that month, was decidedly gloomy. MND's coverage of the forecast elicited a lot of concern from readers, especially when we quoted Freddie Mac that, un