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Tag Archives: first time buyers

  • FHA Student Loan Guidelines 2021

    2021 FHA Student Loan Guidelines Help More Qualify for a Mortgage

    2021 FHA Loan Guideline Update As of June 2021, FHA updated its guidelines for student loans in deferment or income-based repayment (IBR). The change will give more borrowers with student loan debt the opportunity to qualify for an FHA loan.  Before the change: We were required to use 1% of the loan balance to determine [...] More  →
  • credit report dispute

    Mortgage Lending Guidelines Have Caught Onto Credit Repair Dispute Strategies

    In the credit world, everyone has a number. Certainly, most know this number is called a credit score. Good or bad, it determines the outcome for many areas such as insurance rates, employment, and of course, buying a home. Since high credit scores are so important in today's world, many turn to credit repair as [...] More  →
  • VA Construction Permanent Loans Help Veterans Build a Custom Home

    Finding a construction loan is very difficult today and almost impossible to find over 75 – 80% of the value, but finding 100% financing for building a new home is really tough. Luckily, there is the option of VA construction permanent loans. This is a combination of a construction loan along with a VA permanent closing. Therefore, …

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  • Site Requirements To Know Before Using A USDA Loan

    USDA will not allow a property to have income producing buildings or farmland. You would think that The US Department of Agriculture would be okay with this, but they are not for their Rural Development program. Here are the USDA site requirements to consider when planning to apply for a USDA loan. USDA Site Requirements …

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  • Fannie Mae Now Excludes Revolving Debts Paid at Closing From Debt Ratios

    For the last few years, even if a person pays off credit cards or lines of credit at closing or before, the payments must be still included in their debt to income ratio. Effective immediately, Fannie Mae will now exclude paid off revolving debts from a borrower’s debt ratio. This can make a huge difference …

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  • Mortgage Loan Approvals With Deferred Student Loan Payments

    Student loans play a big role in people’s finances nowadays and that is certainly true with mortgage loan approvals as well. Forbes reported in an article in June of 2018 that the average student loan debt for the class of 2016 is $37,172. Read the article here. Student loan payments are usually included in calculating …

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  • VA Certificate of Eligibility

    How to Get Your VA Certificate of Eligibility for Buying a Home

    VA home loans are one of the best options available for buyers. They provide potentially 100% financing, affordable housing payments, and flexible guidelines for those that qualify. But, in order to use this valuable home buying tool, one of the borrowers must have sufficient VA entitlement. The amount of entitlement available is a key factor …

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  • dd214 request

    Veterans See How to Make a DD214 Request Online

    To receive a VA loan as a military Veteran, lenders require a copy of the DD214. Furthermore, potential civilian and government employers may require an applicant's DD214 copy. Because it is a piece of paper, they get lost, ripped, and worn beyond deciphering. It is a key military document, and for that reason, Veterans should [...] More  →
  • closing day

    I Have Signed Closing Papers. When Do I Get The Keys?

    An important thing to remember for a purchase closing is that just because the buyer has signed the closing documents, the property is not owned by the buyer right away. Generally, the following items need to happen on the day of closing for the buyer to get the keys to the home: Closing Day Steps …

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  • You may not know it, but you are a number and it could help or hurt you a lot!

    If you were a fly on a wall in my office, you would hear me say several times a day, this little known fact that accounts for 30% of a borrower’s credit scores! 30% of a person’s credit score is based on balances reported for revolving accounts like credit cards or lines of credit, compared to the …

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