Tax Return Requirement for USDA Loans
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Charging Fees as a Broker
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Formerly Self-Employed Accepts Salaried Position
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Tax Credit for Minimum Required Investment
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Gift From Employer – Use & Documentation
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Fannie Mae Expiration Dates for Condo Certification
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Not Counting Mortgage Debt When a Refinance Interrupted the Payment History
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Transferring Title and FHA Flip Requirement
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The best deals on housing are the “fixer uppers” that no one else is looking at! Did you know that we have programs that allow you to buy a home and finance repairs, improvements and even additions to the property? You can even refinance a home using one of these programs to update your house. It’s not as difficult as most people think and renovation financing is an affordable way to buy a home or refinance your existing home to fix it up! If this sounds interesting to you, let’s talk!
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Question: I’m considering buying a home that I want to renovate prior to moving in, do I have to make payments on my present home and the new loan?Answer: One of the benefits of renovation lending is that you can build into the mortgage your new loan payments so that you don’t have two housing payments at the same time! This option is only available if the home is uninhabitable during construction. Each program has different time limits so if you are thinking about a renovation loan, let’s talk first!
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What Was Added – What Was Changed This Month?
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Fannie Mae Issues “Best Practices for Rental Income Verifications – Dated October 2024
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Fannie Mae – FAQs: Borrower Initiated Reconsideration of Value (ROV) – Updated September 26, 2024
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Fannie Mae Issues Quality Insider Fact Sheet for “Are You Prepared for a Market Shift?” – Dated October 2024
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