Are your borrowers pre-qualified for an FHA loan?
"STILL PRE-QUALIFIED FOR AN FHA LOAN?"
A very timely reminder from Renee Gerke up in Scottsdale. And these seemingly small percentages could indeed blow the borrower's loan approval. You need to check with the lender to insure no surprises down the road. We need to do everything in our power to keep our buyers safe from predictable situations. Buyers are stressed enough right now and it's part of our job to make sure the ENTIRE process is working for them.
Just a quick reminder to check with the lender to be sure the borrower is still qualified after the monthly mortgage insurance premiums are increased across the board by .25% on April 18th.
This can make a big difference in your borrower's debt to income ratio.
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