[...] it boils down to they qualify for a certain mortgage payment based on their income and debts (DTI aka…
On Debt to Income Ratios (aka DTI)
[...] efforts to keep mortgage rates low will be in contrast to the increase in the "g-fees" by Fannie Mae…
On FHFA Announces Increase in G-Fees for Conforming Fannie/Freddie Mortgages
[...] that increased their fees just over a month ago. The bank is doing this as a result of the…
On FHFA Announces Increase in G-Fees for Conforming Fannie/Freddie Mortgages
[...] I just received this notice from one of the lenders we work with that they're dramatically increasing their extension…
On Major Lender Increases Cost to Extend Rate Lock Commitments
[...] LOAN PRODUCTS - FHA May Be A Great Option For Higher Loan Amounts (Rhonda ‘MortgagePorter’) [...]
On FHA Rate-Term Refi’s may be a Great Option for Higher Loan Amounts
[...] not quoting the HARP 2.0 program even though it may be available and often has reduced cost since the…
On HARP 2 and Appraisal Waivers
[...] also quoting rates that are as close to "par pricing" as possible. This means with as little rebate credit…
On Using Rebate Pricing to Reduce Closing Cost on your Refi or Home Purchase
[...] won't be an issue. The lender will probably require at least one pay stub (possibly more to document your…
On What is required of income documentation for a “full doc” loan
[...] from annual salaried income to a potentially flexible type of income may derail your loan approval. Self-employed, hourly income,…
On 5 Ways to Derail Your Loan Approval
[...] this may cause an issue as well unless it is to an annual salary. The underwriter may require a…
On Explaining the “Letter of Explanation”