TRID changes mortgage disclosures along with the process of disclosing, documenting, and closing a mortgage loan and everyone needs to know the new rules. If you are a Real Estate Professional, hopefully by now you are very familiar with the new regulation rules c... Read More
What Realtors, attorneys, buyers, & sellers need to know about how TRID will change a purchase closing For most real estate professionals, TRID is the least understood big regulation in history probably and it starts October 3, 2015! Can a lender, settlement a... Read More
What Realtors, attorneys, buyers, & sellers need to know about how TRID will change a purchase closing TRID: Get familiar with the new forms taking the place of current ones (No more HUD, GFE, TIL, & others) and the totally new process. Make sure that you... Read More
What Realtors, attorneys, buyers, & sellers need to know about how TRID will change a purchase closing Whether everyone likes it or not, the TILA RESPA Integrated Disclosure Rule or TRID, is going to happen on October 1, 2015. TRID which is mandated as part of ... Read More
FHA Flipping Rules Explained There are two main categories of real estate investors. The first is a long term hold strategy. Secondly, there is flip which is a short term sell for profit strategy. A property flip is when investors purchase a home, renovate it,... Read More
Abandoned UST Issues Explained UST sounds like a disease, doesn’t it? Although, it can cause major issues on a purchase. Therefore if a buyer uses a VA or USDA loan and the property has an abandoned UST, read closely. Usually, the appraisal or the purcha... Read More
Lenders cannot discriminate based on a borrowers age. A retired even at an advanced age can get a 30 year term We are surprised when we occasionally hear someone say something like “Well I am 65 years old, so I can only get a 10 or 15 year mortgage, right?... Read More
Social Security disability income protects individuals no longer able to work at the same prior level. In the past lenders had difficulty in meeting a mortgage loan approval. This requirement included proof that the income “should” continue for at lea... Read More
Check Out The Latest
- Mortgage Denied Because of Employment History? We Have SolutionsAugust 17, 2017 - 7:53 pm
Capacity, credit, collateral, and capital are considered the 4 C’s of mortgage lending. Basically, these are the main areas lenders review to qualify a borrower. But these 4 categories are broken down into many subsets. This article is going to discuss the capacity to pay back the loan and more specifically discuss the role of […]
- VA Loan Includes Condo Approval, Raised Credit Score, High Debt Ratio, Paying Off DebtsAugust 11, 2017 - 6:58 am
Individually, these areas mentioned in the title are great advantages of VA home loans. But what if all of them happened on the same purchase? Well, they did and we closed it! So, we bring understanding VA home loans to another level. Check out some of the things we were able to accomplish for a […]
find us here & there
Copyright © 2015 OVM Financial, All rights reserved. | OVMX; development by OVMX
The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only.
The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency.
The views expressed on this post are mine and do not necessarily reflect the view of OVM Financial Inc,.
Not all products or services mentioned on this site may fit all people
OVMFinancial, Inc. is licensed by the Virginia State Corporation Commission/Bureau of Financial Institutions as a mortgage lender/mortgage broker, license # 3038, NMLS ID# 86788, (www.nmlsconsumeraccess.org). We lend in the following states: Virginia, North Carolina and South Carolina.