Real World Mortgage Solutions

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Mortgage and Lending - Team Move OVM Financial - NMLS # 78989
The goal of my blog is to give you real world mortgage solutions to actual mortgage scenarios I see everyday.
It is no secret that student loans cause debt ratio issues when qualifying for a home loan. While mortgage lending hasn’t caught up with student loan debt payment options, there are great solutions available. So let’s share creative ways millennials and first time buyers with even large student d...
So has the lending world scared you into believing your credit score is your whole meaning in life? Obviously it isn’t, but it does play a very important role in key areas of life. Some you may surprise you. Credit scores could determine insurance rates, employment, opening a bank account, and of...
Well, 2016 is over and what a year it was! The real estate market had a great year which was supported by very low rates and an improving economy. As a mortgage lender, we try to do more than just close mortgage loans. Providing education is a cornerstone belief of our team. So we have compiled t...
The National Association of REALTORS® reported on Wednesday that Existing Home Sales in November edged higher by 0.7 percent from October to an annual rate of 5.61 million units, a 9-year high. Potential borrowers locked in before the presidential election on November 8 to secure low rates becaus...
SC FHA Loan Size LimitsThe Federal Housing Administration or FHA, announced the 2017 SC FHA loan size limits in all areas of each state.  Most of the SC FHA loan size limits increased from $271,050 to $275,650.  But there are some counties which have higher limits.  So make sure that you check th...
NC FHA Loan Size LimitsThe Federal Housing Administration has announced the FHA loan size limits for 2017 in all areas of each state.  The most popular level is for single family residences.  Most of the NC FHA loan size limits increased from $271,050 to $275,650.  But there are several NC counti...
There are so many reasons NOT to be a Cash BuyerBecoming a cash buyer is not easy and usually takes dedication over time.  So it usually doesn’t happen overnight.  Therefore, don’t put on the blinders and only consider paying all of that hard earned investment on a house.There are a lot of ways t...
Although not spectacular, the jobs section of the economy had a few bright spotsThe Labor Department reported on Friday that U.S. employers added 161,000 new workers in October, which was below the 175,000 expected. However, August and September were revised higher by a total of 44,000. Within th...
Credit Mistakes to Avoid Prior to ClosingTips Everyone hears the credit advice flying in the mortgage process.  Examples may include “You need to pay off all your debts!”.  “Close your unnecessary credit cards!”.  Too often we see clients do things like these that hurt their purchase or refinance...
USDA Commitment Done Right!We love USDA loans!  Not only are buyers able to purchase with no money down, but it is flexible on credit.  On top of this, USDA just made homeownership more affordable effective 10/1/16!  This was accomplished by USDA drastically lowering the guarantee fee and the mon...

Russell Smith

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