Resources and News

Mortgage Pre-Approval Process | Properly Pre-Approved for a MortgageeLooking for a fast mortgage pre-approval? The mortgage pre-approval process is one of the most important first steps to home ownership and the mortgage process. One major reason why borrowers stress during the loan process is because they have not been pre-approved...

2 to 4 Unit FHA Multi-Unit RequirementsFinancing for a multi-unit (2 to 4 unit) is possible with a FHA multi-unit mortgage. The down payment is 3.5% with a 580 FICO or higher. Owner occupied multi family financing is desirable to borrowers who plan to occupy one of the units and...

VA IRRRL Guideline Requirements | Non-Credit Qualifying StreamlineIf you are looking for VA IRRRL guidelines, the loan is not hard to qualify for. The non-credit qualifying streamline has limited documentation, which does not require a full credit report, written Verification of Employment, or appraisal. The two major VA IRRRL requirements...

FHA Streamline Guidelines on Credit & Non-Credit QualifyingFHA streamline guidelines can vary by lender if they have internal guidelines. The credit and non-credit qualifying streamline can be a great opportunity to save you money. The two biggest qualifying factors are determining if you meet the mortgage payment history and FHA...

Appraisal Wavier Requirements for Conventional Loans | No AppraisalLooking to see if a property is eligible for a property inspection waiver through the Automated Underwriting System? A Fannie Mae appraisal or Freddie Mac appraisal waiver eligibility is determined during the pre-approval process. It is important that a Loan Originator checks...

Conventional Loan Appraisal Requirements | Appraisal Guidelines Looking to see if a property meets conventional loan appraisal requirements? Conventional loan roof requirements seem to be the most common issues when it comes to appraisals. Going over a conventional loan appraisal checklist can be cost effective to prevent any extra fees...

Ways to Strengthen a Home Purchase OfferDepending on the area in today’s market, it seems like there are way more buyers than sellers. People are often discouraged in purchasing a home by the interest rates and how tough it is to get an accepted offer. There are ways to strengthen...

Conventional Loan Requirements, Loan Limits & Down Payment Options Are you looking for conventional loan requirements? The two traditional loan government-sponsored enterprises (GSE) are Fannie Mae and Freddie Mac. Understanding all conforming guidelines for mortgage professionals or real estate agents can often be confusing, but the processes is streamlined with...

Debt-Service Coverage Ratio (DSCR) Loan Closing CostsDSCR closing costs will vary by lender and some are even exempt from initial disclosures. When it comes to mortgages, getting fees in writing is important when:Comparing rates and fees associated with the loan.Understanding closing costs.Using a fees sheet to shop for rates and...

Origination Charges | Lowest Rate is Not Always the Best OptionMost people think that getting the lowest rate possible is the best route when it comes to a mortgage. What they do not sometimes realize is that a rate is tied to origination charges such as, but not limited to:Underwriting...