Fannie Mae’s HomeReady mortgage allows a home buyer to qualify using “boarder income”. What does this mean? Remember our favorite roommates Laverne and Shirley?
Many home owners in Washington state are looking into refinancing with how historically low mortgage interest rates currently are. The process of a refinance is very similar to that of when you obtained a mortgage to purchase your home…there is a lot of a paperwork and documentation required for the process. However…there are options you may have available to help reduce some of the documents that are typically required.
Mortgage rates have been bouncing at historic lows following Brexit. Rates could bump higher following the Jobs Report which is scheduled to be released tomorrow morning.
Today’s ADP Report came in with stronger than expected employment data and last month’s Jobs Report came in worse than expected.
My advice? [Read more…]
Fannie Mae will be increasing the income limits for HomeReady effective July 16, 2016 making it easier for more people to qualify for this mortgage program. [Read more…]
Investors had been banking on the Brits staying in the European Union. This morning’s Brexit narrow vote to leave the EU results stunned the markets. The Dow was down over 500 points. This morning, mortgage rates are dropping.
Want to lock in a historically low mortgage rate? You can start with getting a rate quote or by starting a pre-application. NOTE: I am licensed to originate mortgages for homes located in Washington State.
Effective October 1, 2016, the upfront guarantee fee and annual fee (paid monthly) will be reduced with USDA mortgages. This new fee structure will take place until September 30, 2017, the end of the fiscal year for USDA.