High-Balance and 2nd Home Loans to Become More Expensive

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Both Fannie Mae are Freddie Mac, the two agencies that purchase conforming loans, are going to charge additional fees thus making 2nd (vacation) homes and high-balance loans more expensive. WHAT IS A 2ND HOME AND HIGH-BALANCE LOANS? Sometimes my borrowers confuse 2nd home as the home they buy after they have purchased their first home. […]

No More Profit & Loss and Business Bank Statements for Self-Employed Borrowers

Mortgage Broker ft. Lauderdale

This week, Fannie Mae and Freddie Mac, government agencies that buy Conforming Loans, announced that it will not require Profit and Loss (P&L) statements and business bank statements anymore for most self-employed borrowers. Both agencies, effective immediately, have reverted back to almost all standard underwriting guidelines for self-employed borrowers “pre-pandemic”.  No more requirements for profit and loss […]

When Do You Pay Capital Gains Tax on Real Estate?

Taxes

You’ve probably heard that it’s a sellers market right now. There is a shortage of available homes, available right now so the good ones are getting scooped up left and right. Sellers are generally able to get a lot more than the asking price, so it’s a good time to sell your home if you’ve been in […]

How to Qualify For a Mortgage When You Have Student Loans

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A lot of first-time homebuyers who graduated in the last few years have one big question to answer – “How to qualify for a mortgage when you have student loans”? That’s exactly what I answer in this blog post. The guidelines are different depending on which kind of loan program you are trying to qualify […]

What Upgrades Increase Home Value?

Home Value

Home upgrades are an awesome way to increase the value of a house. Some people think of making upgrades but are unsure of where to start and how to get their money back? No problem – we’re here to help.  Here are a few upgrades that increase home value so you can recoup part of the investment.  […]

What Does Housing Affordability Look Like in 2022?

Mortgage

For any observer, the real estate market has made an interesting sport over the last two years. With home prices going up so much, there has been speculation that homes just aren’t affordable anymore. While there may be some truth to this statement for some people, it is not accurate for everyone. Here’s a snapshot of housing […]

How to Get Down Payment Assistance in 2022

Mortgage Payment

Looking for down payment assistance (DPA?) The good news is there are a lot of great programs out there but you’ll need to do a bit of homework to get in.  Let’s start with a very high-level view of these types of programs.    WHAT IS DOWN PAYMENT ASSISTANCE?  One of the biggest barriers keeping millions […]

What and How Much is Private Mortgage Insurance (PMI)?

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WHAT IS PRIVATE MORTGAGE INSURANCE (PMI)? If you purchased a home with less than a 20% down payment, or you’re about to, you’re familiar with Private Mortgage Insurance (PMI). PMI is an ‘evil villain’ in the eyes of family and friends who’ll likely tell you to “avoid it at all costs.” But in reality, PMI is a […]

Low Down Payment Mortgage Options for Home Purchase

Mortgage Options For Home Purchase

The low down payment mortgage option might be what you would be dreaming of when you do the math, then check the balance in your savings account, and then do the math again. By your calculations, it’ll take another three, maybe five (!) years to save enough for a 20% down payment on your first […]