No, it's not a T-Rex, aka Tyrannosaurus Rex killing your mortgage loan. It's your 4506-T. - 07/31/10 01:16 PM
 
This is a great post laying out the importance of disclosing all the income and other tax-related during your mortgage application.  See one of my recent posts about how a borrower with a 720 FICO score got turned down.  It was a very similar situation, except for in my case it was rental property.
Read below,
Brandon Snider
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Via Jeff Belonger- The FHA Expert FHA Loans - FHA mortgages - USDA loans - VA Loans ( - FHA Home Loans - Infinity Home Mortgage Company, Inc):

 
In the ever changing world of mortgages, you really need … (1 comments)

USDA Rural Housing gets much needed funding! - 07/28/10 06:25 PM
Great news for buyers who are depending on the USDA Rural Development Program for 100% Financing.  On July 27, 2010, the House made a motion to suspend the rules on H.R. 4889, thereby moving forward the bill that would give emergency appropriations to the USDA Rural Development Program.  The motion passed 308 - 114 with 10 abstaining from the vote.
This new appropriations bill will give this program much needed funding for the USDA Rural Development Program.  New guidelines will be in place and will be announced by the USDA National office as soon as the dust settles.
Our company has … (8 comments)

Need help with your down payment? - 07/26/10 12:52 PM

 
 
Are you one of thousands of borrowers who are looking for down payment assitance for your FHA Loan?
If so, you may be in luck. Alabama Housing Finance Authority offers a program called the Step Up Loan that offers down payment assitance through a 3% second mortgage.
FHA requires a 3.5% down payment under normal underwriting guidelines, but FHA will also allow part of this down payment to come via a government agency.
Enter stage left: Alabama Housing Finance Authority
 
 
The Step Up program allows you to 'borrow' 3% of your down payment and finance it … (0 comments)

How do you change your background for your blog? ...and more? - 07/25/10 03:29 PM
Attention AR community:
 
I've been looking for information on how to change the background on your ActiveRain blog, but either I'm looking over it, or there isn't anything out there.  I've noticed many of you have done it and maybe I should just contact you directly, but I thought I'd open this up to the whole community to give me some feedback on some of the best ways to customize your blog.
Thanks in advance for the help!  
Rainmaker...but a newbie to consistent blogging.
… (9 comments)

How a borrower with a 720+ FICO score got turned down - 07/24/10 11:07 PM
How can this happen??  Was it due to a title issue?  NO.  Was it due to an income issue?  NO.  
Let me tell you the story...
This past week I had to turn down a refinance loan for borrowers with 720+ FICO scores.  It was one of the toughest things I had to do.  
By the way, you can learn how to get your real FICO score by clicking here.
When these borrowers came to me, everything looked great.  Good income, low debt ratios, and good credit scores (720+).  He was looking to refinance two loans from an 80/20 purchase … (3 comments)

Our Declaration of FHA Financing !!! - Issues regarding the 3% seller concession proposal - Can we fight FHA Loans with solutions?? - YES !!! - 07/20/10 11:19 AM

Via Jeff Belonger- The FHA Expert FHA Loans - FHA mortgages - USDA loans - VA Loans ( - FHA Home Loans - Infinity Home Mortgage Company, Inc):
IMPORTANT CALL TO ACTION - Hot topic - Reduction of seller concessions on FHA loans to 3% max
 
 
I wrote this article the other day, HUD seeks public comment on three main issues for FHA loans. - The main issue and focal point is that FHA wants to reduce the seller concession from 6% to 3%. I can understand why. Two reasons I can think of :
1. The real estate … (0 comments)

 
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Brandon Snider

Cullman, AL

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Consumer First Mortgage

Address: 1510 2nd Ave NW, Cullman, AL, 35055

Office Phone: (256) 586-5626

Cell Phone: (256) 694-7514

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Brandon Snider - The Mortgage Expert - Consumer First Mortgage

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