Thursday, October 27, 2016

Appraisal Prepared New Version November 2016

This Video Could Save You $150-$1,500

Know Before You Owe

Wednesday, October 19, 2016

New Purchase Product - Home Possible

If you are buying a primary home, even if you own one already, then you could qualify for Home Possible. This allows you to put little down and pay lower rates including lower mortgage insurance payments than a normal mortgage.

Only 3 requirements: 

  1. Your income cannot exceed the limit for the home you want to buy. CLICK HERE     TO FIND OUT
  2. You must be be buying a primary home.
  3. You must complete this simple class on Fannie Mae's website. CLICK HERE TO TAKE IT


Freddie Mac's updated Home Possible Income & Property Eligibility tool makes it easy to determine if you meet the income requirements for a low down payment Freddie Mac Home Possible® mortgage at a specific address.
  •            This Product: 


  1. Offers flexible credit terms and low down payments of 3-5 percent – ideal for first-time homebuyers, millennials and past homeowners who are returning to the market.
  2. Allows flexible sources of funds for down payments and eligible incomes up to 100 percent of the area median, higher if purchasing a home in a high-cost area.
  3. No income limit if the home is located in a low- to moderate-income or underserved community.
  4. Features a FREE online tutorial to meet the education requirement for first-time homebuyers.

Which Home Possible Mortgage is Right For You?


Home Possible: 
95% LTV

  • LTV: Maximum LTV and TLTV of 95 percent.
  • Property Options: 1-4 units, condos and planned-unit developments; manufactured homes are eligible with certain restrictions.
  • Mortgage Flexibility: 15- to 30-year fixed-rate mortgages, 5/1, 7/1 and 10/1 ARMs.
  • Refinance Options: No cash-out refinancing option is available for borrowers who occupy the property.

Home Possible Advantage: 
97% LTV

  • LTV: Maximum LTV of 97 percent; TLTV 105 percent.
  • Property Options: 1-unit properties, condos and planned unit developments; manufactured homes are not eligible.
  • Stable Mortgages: Fixed-rate mortgages with a term of up to 30 years.
  • Refinance Flexibility: Purchase and no cash-out refinancing options available.
  • Primary Residence Only: All borrowers must occupy the property as their primary residence.

Tuesday, October 4, 2016