If your buyer doesn’t have a credit score, they may still be able to qualify for a mortgage by demonstrating alternative sources of creditworthiness. Requirements may vary depending on the lender and the type of mortgage they’re seeking, but some common ways to verify creditworthiness without a credit score include: Proof of steady income and […]

The Federal Reserve raised interest rates by just .250% yesterday, and many Bond traders feel this could be the last raise and that the next move could be to lower rates. The markets have reacted well, and 30-year Mortgage rates have dropped quite a bit since mid-day yesterday, bringing us to our lowest levels since […]

As we continue down the loan program row, I wanted to talk about Non-QM Mortgages today. Non-QM Loans are not your Standard Fannie / Freddie/ FHA / VA conventional loans, and they require a larger down payment and are generally for people who can’t qualify for your standard mortgages. The rates are a bit higher, […]

Happy Thursday, and I hope things are going well. As we run through some loan programs, I decided to go with a hard money loan or a Private loan, as these have been popular of late. We have a lot of different versions of Private money loans, and probably too many to write down, so […]

I told you I would update you on different programs, and although we have been talking about Buydown loans for the past six months, I am now getting a lot of questions about 3/2/1 Buydowns. Yes, we do them, and all buydown loans work the same. Assuming rates are 5.99% today: 3/2/1 Buydown is a […]