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What's in Your Tool Box: Unique style homes

05-28-2015

For as long as I can remember (I became a loan officer in 1993), there was no conventional, mainstream, loan available for log homes, geodesic domes or earth homes. Well my friends, times they are a changing. Fannie Mae came out with a Lender Letter, LL-2014-02, on March 25, 2014 that blew some of these old cobwebs right out the window. See an excerpt below and let’s do some loans on “unique” housing types! “Unique housing types such as log homes, geodesic homes, or[...]

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DU or LP? How can one lender do something that another lender cannot...

04-07-2015

How can one lender do something that another lender cannot these days……………….DU and LP.    What?  You have never heard of those acronyms or maybe you have but not 100% sure what that means to you? I’ll let you know how this can help you close more transactions in a moment but first a little background. Most Realtors have heard of these but may not know the “back-story”.  All loan originators know the power of[...]

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Bad Credit Waiting Periods

01-31-2015

Every week I am asked multiple times about how long a buyer needs to wait after a serious credit issue before they can purchase again.  Fannie Mae, Freddie Mac, FHA, USDA and VA have fairly clear guidelines around these timeframes.  I have  below is a great “go-to” flyer for the typical required waiting periods after a serious derogatory credit event. As always, best is to have them call me so we can determine exactly where they fall in the[...]

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