Did you know that FHA no longer requires us to use 1% of a borrower’s student loan balance when calculating debt-to-income? Instead, lenders now use the actual monthly payment that shows up on the credit report. If no payment shows, we use just 0.5% of the balance. This new guideline is a significant shift because […]

Have you ever wondered if that creaky old mansion with the flickering lights could pass a loan inspection? Enter the FHA’s “No Haunted House” rule! A quirky yet profound guideline that keeps homebuyers safe while adding a dash of drama to the process. Let’s unpack this fun rule, dive into what counts as a health […]

One of my jobs as a loan officer is giving credit advice to clients who are looking to buy a property. Some clients come with excellent credit, but it’s the clients with poor or marginal credit where a good loan officer with proper advice can be a game-changer!   We’ve seen clients with limited credit […]

Yesterday, I got a call from a past client – we hadn’t spoken in over 20 years! She’d just found her dream fixer-upper… but it came with a few quirks: Empty pool Missing walls inside the house Missing cabinets Broken windows She had already received a Fix & Flip loan quote – rates in the […]

I love to share some alternative options when I feel these can help you with certain clients that are on the fence for particular reasons. This particular one plays to those clients in their 40s or 50s, aiming to pay off their homes before retirement! The best interest rates are usually a 15-year mortgage, but […]