Excellent Financing Options for Low-Income Borrowers with HomeReady and Home Possible

Excellent Financing Options for Low-Income Borrowers with HomeReady and Home Possible

Gone are the days when borrowers with low income and not-so-perfect credit didn’t have options for purchasing a home. Both Fannie Mae and Freddie Mac, the two major agencies that buy and sell mortgages from lenders, created mortgage programs designed for low-income...
Think You Can’t Qualify for a Home Loan Because of Your Income Status? Cue: Non-QM Financing

Think You Can’t Qualify for a Home Loan Because of Your Income Status? Cue: Non-QM Financing

Traditional mortgage products aren’t the only way to qualify for a home loan. With more and more home buyers working non-traditional jobs, the lending landscape is changing to address the specific income status of those unique potential home buyers. Cue: Simple...
Tips for Finding Real Estate Resources When Relocating

Tips for Finding Real Estate Resources When Relocating

There is a never-ending list of things to worry about when you relocate, whether to a new city or a completely different state. One of the biggest stressors is buying a new home. Here are some tips to help you find all the real estate resources you need to relocate....
How Inflation Affects Consumers’ View of the Housing Market

How Inflation Affects Consumers’ View of the Housing Market

As inflation continues to rise in the U.S., the effects are rippling through the housing market. Let’s look at how consumers in this market are reacting to rising prices. Some Buyers Are Speeding Up, Others Are Hitting the Brakes The Mortgage Bankers Association...
Non-QM Highlight: Bank Statement Loan Financing

Non-QM Highlight: Bank Statement Loan Financing

Are you self-employed? A gig economy worker? Perhaps you generate income from investments rather than a salary. If so, or if you have similar non-traditional income, the standard approval process of a traditional mortgage may not suit your unique situation. But a bank...
The 2021 Mortgage Industry: Themes & Highlights

The 2021 Mortgage Industry: Themes & Highlights

With 2021 in the rearview mirror, there are some notable insights to glean from the past 12 months when it comes to the mortgage industry. The lingering pandemic was still a factor and looks as if it will stick around in the first part of 2022 as well. Here are some...
Finance a Higher Value Property with FHFA’s Increased Loan Limits for 2022

Finance a Higher Value Property with FHFA’s Increased Loan Limits for 2022

Found your dream home, but worried the price might put you out of the range for a conventional loan? There is good news for borrowers who want a higher value property but don’t want the restrictions of financing with a jumbo loan. For 2022, the Federal Housing Finance...
Diversify Your Portfolio with an Investment Property

Diversify Your Portfolio with an Investment Property

New Year’s resolutions often include financial goals, including paying off credit cards, building a savings account, budgeting better, and planning ahead for retirement. If you are starting 2022 off with some new financial to-dos, how about diversifying your portfolio...
New Year, New Home. How to Set Yourself up for Success

New Year, New Home. How to Set Yourself up for Success

Thinking of buying a home in the New Year? It’s never too early to start planning. Whether this is your first house or your third, here are some tips to help kickstart your home buying journey. Rank Your Must-haves vs. Nice-to-Haves Buying an existing house that you...
What is a 1099 Only Loan?

What is a 1099 Only Loan?

There are many benefits to being a gig worker, independent contractor, or freelancer, including flexible hours, financial freedom, being your own boss, a sense of ownership, security, and having a more balanced lifestyle. But one financial drawback for non-traditional...