On Wednesday, February 25, I tuned in for a webinar hosted by Navy Federal Credit Union called "Military, Millennials and Money." The forum took place at the National Press Club in Washington, DC. As a lender who specializes in home loa
Feb 27, 2015 |
We have guaranteed bonus and commission income - how do you treat this? Normally when a borrower has commission or bonus income, it is averaged over a 24 month period. If the income is guaranteed, it is treated like regular salary.
Feb 20, 2015 |
This week, USA TODAY reported many millennials don't enter the housing market because they're intimidated by all the confusing terminology. From the article: "After putting away enough savings, the biggest hurdle for Millennial buyers may b
Feb 20, 2015 |
People often ask me: What's the maximum amount a seller can contribute to the closing costs? The answer depends on the loan program. The chart below shows the seller contributions for conventional loans based on the down payment. Note: The c
Feb 19, 2015 |
We are receiving a gift for our down payment. It will be in excess of 20% of the purchase price. Someone told us part of that money has to be our own funds. Is this true? If the down payment is in excess of 20% of the purcha
Feb 09, 2015 |
When you negotiate a contract and decide on a lender, you should always take into account closing costs and pre-paids. Here's the difference between the two. Below I have pasted a chart for a closing cost estimator. I hope yo
Feb 09, 2015 |
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