L.L.P.A’s (Loan Level Price Adjustments) are the algorithms that determine what a borrowers rate will be based on credit score, down payment and type of loan.  Below is a grid for Conventional loans L.L.P.A’s per Fannie Mae Guidelines.     The left most column is credit score, varying between 620 and 740 in increments of…

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Foreclosure can be one of the most traumatic experiences of someone’s life, regardless of the reason it has a serious consequence on your credit.  Most people think that their life as a homeowner is over at this point, but the truth is quite the opposite.  They’re actually reducing the time it takes to get into…

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THERE IS LIFE AFTER BANKRUPTCY Part of the anxiety for anyone filing bankruptcy is the concern about his or her financial future post-bankruptcy. However, by taking proper and pro-active steps you can put yourself on the road to financial recovery and an ever-improving credit score. A Chapter 7 or Chapter 13 bankruptcy filing is not…

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Unless you live under a rock (like I do), you’ve probably heard the term “Mortgage Broker” get thrown around on more than one occasion. You may have heard good things, and you may have heard bad things… Opinions aside, a mortgage broker is essentially a middleman between the borrower/homeowner and the bank or mortgage lender.…

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So now you’ve found a home, the search is over.  The anxiety, fear, anticipation and frustration have all come to an end.  Right?  Actually it’s just beginning.  There are a world of new feelings associated with buying a house and I want you to know that’s completely normal.   I’ve included this brief video for…

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When qualifying for a mortgage it is expected that certain documentation representing your financial life will be expected.  So here is a list of some ordinary (and not so ordinary) things you may be required to provide (any why)   Standard Mortgage Documentation: 1. Tax returns (most recent 2 years, all pages) Mortgage lenders want…

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Here are some general lending rules for rental properties. Projected rents may be used by most lenders to offset against the mortgage payment at up to 75% of projected fair market rents determined with an appraisal when buying a property. If you owned a rental property for the last 12 months, the lender will average…

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What is Private Mortgage Insurance? Private Mortgage insurance, or PMI, is insurance built into your monthly payment that protects the lender against the risk of default.  Default is when you do not pay your monthly payment.  It may seem like a scam, but it’s a necessary entity to allow buyers to purchase homes with little…

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Top 10 Reasons To Use A Real Estate Agent: 1  Education & Experience You don’t need to know everything about buying and selling real estate if you hire a real estate professional who does. Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than…

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Let’s face it. Even your best real estate marketing ideas from a few years ago might be on shaky ground in 2018. Here are just a few of the crazy changes that will affect how you market your business in 2018: Facebook just announced a massive change to their news feed that pushes your content…

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