No Credit Score? We now have the ability to close Fannie Mae and Freddie Mac  (Conventional Loans) with out all borrowers having a credit score. This is part of our objective to move to no overlays at all. We have very few but this was one of them. But this comes with some rules to…

President breaks tradition, forecasts Fed action amid voter concerns over living expenses. President Joe Biden hinted that the Federal Reserve might soon lower interest rates as his administration ramps up efforts to tackle housing affordability ahead of the upcoming election battle against Donald Trump. “I can’t guarantee it. But I bet — you betcha —…

“Manual underwriting” refers to the process of assessing a borrower’s creditworthiness and making lending decisions based on a thorough review of their financial history, income, assets, and other relevant factors, without relying solely on automated algorithms or credit scoring models. Debt ratios, also known as debt-to-income ratios (DTI), are financial metrics used by lenders to…

Winter sales take 50-57 days, while spring and summer sales are faster at 41-44 days in Florida. In Early-Q1, it takes 46 days to sell a house, compared to 31 days Late-Q4.

Experts deliver their verdict. A panel of housing experts anticipates continued growth in home prices, though at a slower pace than in recent years, according to the latest Fannie Mae Home Price Expectations Survey (HPES). The panel has upgraded its Q1 2024 projection to a 3.8% rise in home price growth this year and 3.4%…

There have been a lot of questions around rules as it pertains to Property Flipping Rules.  Property Flipping is when sellers buying a home and then flip it and sell it to your borrower. The rules are fairly easy with the exception of FHA. VA No flipping rules. Sellers can sell one day after buying it with no requirement…

TAX RETURN REQUIREMENTS FOR MORTGAGES Tax season opened up this year on January 29th for everyone to hope for a refund or fear that you owe. The deadline this year falls on Monday April 15th so just know you have an entire weekend prior to get yours done. October 15th is this year’s deadline for…

National Association of Realtors reveals new figures for US home sales. Existing home sales saw an increase in January by 3.1%, according to the findings of the National Association of Realtors (NAR). The organization found that within the four major regions in the US, sales saw an acceleration within the Midwest, South, and West markets.…

Positive Rental Payment History refers to the on-time payment by a Borrower of all rental payments in the previous 12 months. A rental payment is considered to be on time when it is paid within the month due. A First-Time Homebuyer refers to an individual who has not held an ownership interest in another property…

A homestead exemption is a legal provision in the United States that protects a certain amount of a homeowner’s equity from creditors, property taxes, and in some cases, bankruptcy proceedings. It’s designed to provide homeowners with a measure of protection for their primary residence. The specifics of homestead exemptions vary by state, as each state…