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
- See How the USDA Guarantee Fee Stays Low for 2018 to Help Home BuyersSeptember 27, 2017 - 7:50 am
Homebuyers received great news about the USDA Rural Development guaranteed loan program! In 2017, USDA drastically reduced the guarantee or funding fee they charge upfront on USDA loans, plus lowered the annual fee also. So the great news is that the USDA guarantee fee 2018 (also often referred to as a USDA funding fee) will remain at […]
- Gift Letter for Mortgage: Requirements for Who, What, and How MuchSeptember 21, 2017 - 7:16 pm
Buying a home is the American dream for many and there are a lot of programs available to accomplish this dream. But what happens when the buyer needs a little extra funds in order to purchase? That is where a gift can be very beneficial. Although it is important to understand gift requirements such as […]
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