Bill Polack's (bpolack) Blog

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Mortgage and Lending - First Option Mortgage - 269761

ARCHIVED BLOG POSTS

2016 

Down Payment Assistance (DPA) is a program offered by many “non-profit” institutions and government entities that provides First Time Homebuyers and non-First Time Homebuyers money to be used to pay for the Down Payment or Closing Costs and Prepaid Items necessary in buying a home. In most cases,...
07/26/2016
DebtAccording to Nerdwallet.com, in 2015 the average American household owed over $15,000 in credit card debt, over $25,000 in auto loan debt and over $45,000 in student loan debt. That’s just 3 items! At the bottom of this blog, I’ll give some ideas of how to pay off your debt and how to make so...
07/20/2016
In a world of easy access to the internet, I’m amazed at how difficult it still is to find information about obtaining a mortgage loan. I guess there isn’t a one stop site to address this stuff and Loan Officers are so regulated that we’re not allowed to post it on our websites. Luckily we have s...
07/14/2016
On September 14th, 2015 the Federal Housing Authority (FHA) changed its rules on the calculation of student loan debt as it refers to the Debt-To-Income (DTI) calculation when qualifying a buyer for a mortgage (see table below). It used to be that if a student loan was in deferment for more than ...
07/12/2016
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Bill Polack

Bilingual Spanish Loan Officer in Southeast US.
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