st louis: Mortgage Approval After Bankruptcy - St. Louis and Kansas City MO - 04/21/16 11:58 PM
Mortgage Approval   
After Your
Bankruptcy
St. Louis, Kansas City
Springfield, Columbia
and Missouri
 
 
You Are Not Alone
I recall the feelings that ran through me when I felt compelled to file for a Chapter 7 bankruptcy, I felt as though I was an outcast and ashamed that I could not handle my obligations. For a very long time I barely admitted it to myself much less my friends.
Now I realize that I did not have a solid handle on my finances and it took a couple small set backs to put me into the position of bankruptcy. … (2 comments)

st louis: Down Payment Help and Options - St. Louis MO - 03/22/16 05:42 AM
How much do I need for Down Payment?    
 
Is There a Zero Down Payment Mortgage?
 
What is the Minimum Down Payment?
 
Do I have to have 20% down payment?
 
 
These are very typical questions regarding down payment that I hear every day as a mortgage loan officer. There is a lot of misunderstanding and lack of knowledge when it comes to mortgage down payment, especially so within the media. For instance, you do not need 20% down payment to purchase a new home.
 
MINIMUM DOWN PAYMENT OPTIONS:
 
There are two great mortgage programs that allow for a ZERO down payment, that's right zip, nada, nothing, etc. … (2 comments)

st louis: Bad or Poor Credit? The Secret to a Mortgage Approval - 03/01/16 11:12 AM

 
 
 
Getting a mortgage approval for home buyers with credit scores that some would judge as POOR or BAD is easier than what you have heard or would think!
 
 
Did you know?  That FHA allows for mortgage approval down to a 500 credit score? A 10% down payment is required but it is possible, in fact last year I helped two home buyers that had credit scores in the 540 range get approved to purchase a new home! If your credit scores are below 580 you will be required to put down 10% as a minimum for an FHA mortgage.
 
Getting a new home financed … (1 comments)

st louis: VA Mortgage Lender - Zero Down Payment- St. Louis Mo - 02/18/16 12:57 AM

 
THE VA MORTGAGE WILL PROVIDE A ZERO DOWN PAYMENT HOME LOAN TO UNITED STATE VETERANS!
Many Times The Veteran Will Get Money Back On The Day of Closing!
 
The VA Mortgage is one if not the number one best mortgage program because of its flexibility to provide more to the veteran borrower than any other mortgage program.
The advantages of the VA mortgage; zero down payment, no private mortgage insurance, very competitive interest rates, and the VA mortgage is easier for you to qualify for than a conventional mortgage and most other mortgage programs.
 
You … (0 comments)

st louis: The #1 Best First Time Home Buyer Mortgage - St. Charles and St. Louis - 05/08/13 05:32 AM

 
What is the best
first time home buyer
mortgage?
 
 
 
 
'What mortgage programs are available for first time home buyers?', I have been a mortgage lender in the St. Louis and St. Charles Mo area for going on 20 years and I seem to be asked that question nearly every day.
 
That question has meant many different things to the person who was asking, they were looking for easier qualification, less down payment requirement, no down payment, down payment assistance, lower credit scores and so many other things.
 
In my 20 years … (2 comments)

st louis: Writing a Sales Contract with FHA 203k Financing - 05/01/13 06:15 AM

HOW TO WRITE A SALES CONTRACT WITH FHA 203K FINANCING IN ST. LOUIS AND ST. CHARLES MO.  
This article is written by a Mortgage Loan Officer who has no experience writing real estate sales contract but has closed 100s of FHA 203k Renovation mortgages plus HomePath Renovation and HomeStyle Renovation loans over a 15 year career. My experience as a Renovation Mortgage Specialist and Certified FHA 203k Specialist provides a unique insight that has assisted many home buyers and their real estate agent with this highly useful and unique mortgage program.
 
FHA 203k in the St. Louis and St. … (1 comments)

st louis: What Credit Score is Needed for a Mortgage - St. Charles or St. Louis - 04/19/13 02:03 AM

 
What Credit Score Do I Need
To Qualify
For A
Mortgage?
 
Looking for a new home? Wondering what it takes to qualify for a mortgage? Getting financing for a new home starts with your credit score.
 
Your credit score is the starting point for any new mortgage today, whether you are getting an approval for a FHA mortgage, Conventional mortgage, USDA, or VA, every loan program has a minimum or I should say every lender has an overlay that sets a minimum credit score.
 
What Credit Score Do I Need for Loan Approval
 
As … (0 comments)

st louis: Down Payment Assistance and Help in St. Louis and St. Charles MO - 03/31/13 07:23 AM
Down Payment Assistance
and Help in
St. Charles and St. Louis Mo
 
Down payment assistance and help for new home buyers in the St. Louis and St. Charles Mo area is within your reach. We have all heard the news spewing from the media that getting a mortgage to purchase a new home is difficult plus lenders are requiring huge down payments too. That message is wrong!
True it isn't as easy to qualify for new home as it was before 2008 but down payment requirements have not changed. There are currently 4 heavily utilized home loan programs that … (0 comments)

st louis: What is the FHA 203k Renovation Loan? - 06/24/12 11:02 PM
Foreclosures and distressed homes has represented over 1 in 3 homes sold in the St. Louis and St. Charles Missouri area for the past several years. We have all become very aware of HUD foreclosures, HomePath, REO, Bank Owned, Short Sale, and all the terms and definitions of today's housing market.
What I hear all the time is; 'what is a FHA 203k?', a mortgage loan program that has been around for decades and has helped thousands of home buyers is still a very misunderstood source to help you purchase a new home. I still hear a lot of misconceptions about … (1 comments)

st louis: Home Remodeling and Improvement Loans in St. Louis and St. Charles Mo - 06/17/12 10:45 PM
With interest rates so low Home Remodeling or Home Improvement loans are becoming very popular again. You have owned your home in the St. Louis and/or St. Charles Mo area for a long time, a short time or some where in-between and you are considering making improvements to the home. You have many choices available to you as to how to pay for this expense, you can use your own savings, put it on a credit card, use your contractor's financing, get a home equity line of credit, or you can refinance your current mortgage and receive the money to fix … (3 comments)

st louis: The FHA 203k Renovation Mortgage Lender in St. Louis! - 04/08/12 01:44 AM
Are you looking for a mortgage lender in the St. Louis area who can help you with the FHA 203k Renovation mortgage? Do you have questions about the FHA 203k mortgage, have you found the perfect fixer upper, are you dissatisfied with your current FHA 203k lender? I may be a bit bias but I know that the best FHA 203k lender in St. Louis is USA Mortgage.
I closed my first FHA Renovation mortgage in 1998, when they weren't as popular as they are now, it was a learning experience that looking back I feel sorry for the home buyers … (0 comments)

st louis: The HUD $100 Down Payment Program - Buying a Foreclosure in St. Louis, St. Charles and Missouri - 10/30/11 09:05 AM
It's back! After leaving Missouri, St. Louis, St. Charles and the surrounding area HUD has brought back the $100 Down Payment Program for a limited engagement! $100, that is all you'll need for a down payment to buy a foreclosure offered for sale by the government.
Yes, the U.S. Department of Housing and Urban Development has brought back the $100 down payment plan. This could be a tremendous opportunity for some people, first time home buyers or perhaps those looking to downsize.
HUD Foreclosures? So, just what kind of home can you buy with $100 down? Some of these are modest … (0 comments)

st louis: Top 10 Reasons For an FHA Mortgage, When You Buy a New Home in St. Louis, St. Charles or Missouri - 10/12/11 10:19 AM
Since 1934, the Federal Housing Administration, (FHA) has offered home ownership assistance to Americans in the form of FHA financing. The program originated to combat the effects of the Great Depression, when the rate of foreclosures and loan defaults were high and home ownership for the average American was very low. In response to the recent economic downturn, modifications have been made to the FHA program. Now there are even more reasons to consider FHA financing.
1. FHA financing allows home-buyers a low down payment alternative for their home purchase. The minimum down payment is a low 3.5%. Click here to … (0 comments)

st louis: FHA Streamline - Refinancing Without An Appraisal in St. Louis, St. Charles and Missouri - 10/05/11 09:30 AM
The FHA-insured mortgage market share has increased 10-fold since 2006, spawning a huge class of first-time FHA borrowers around the country. FHA mortgages are identical to conventional mortgages in most ways, they're offered as fixed rate or adjustable; they're available with 15- or 30-year terms; and they don't come with prepayment penalties. But, because FHA mortgages are government-insured, FHA homeowners get access to a special, FHA-only program known as the FHA Streamline Refinance.
Want to learn more about FHA Mortgages? Click Here
FHA Streamline loans can help homeowners lower monthly mortgage payments and interest rates. But what do you need to … (0 comments)

st louis: Getting a new home with low income and/or poor credit - St. Louis and St. Charles MO - 08/10/11 08:09 AM
Home Loans for Those with Poor Credit and Low Income – St. Charles and St. Louis Missouri
A low income coupled with a poor credit history does not necessarily make you ineligible for a home loan. Please, notice I used the word Poor and not Bad. Bad credit can stop you from getting a mortgage now but possibly not later down the road.
Steady Employment and Salary Requirements
Most often, because it is indeed a different way of life, loans for folks with bad credit and low incomes are more often used in rural communities, but not always, first … (4 comments)

st louis: Underwater Mortgage Refinance Options in St. Charles, St. Louis and Missouri - 08/02/11 05:22 AM

Refinancing your underwater mortgage, you do have options! Is your home underwater? You would like to refinance to a lower interest rate, save money every month, or shorten the term of your mortgage? There are just a few options available to home owners who has a mortgage that's underwater in St. Charles, St. Louis and the entire area. If you live in Missouri I may be able to help you.
With the steep drops in home values in recent years, many homeowners in the St. Louis Mo area and Missouri who would like to refinance their mortgage to take advantage … (0 comments)

st louis: VA Mortgage Help in St. Louis, St. Charles, Missouri - 07/26/11 01:01 PM
  Missouri veterans prefers a A VA (Veterans Administration) guaranteed home loan over other loans.  Why?For active, non-active, Reserve, National Guard, and retired military of the armed forces this loan is a great option because there is no down payment needed and no private monthly mortgage insurance required. What with the normally low interest rates and no mortgage insurance an eligible veteran can save money every month and/or qualify for more home. VA mortgage loans can be used towards purchasing a home, building a home, or refinancing an existing mortgage.
We will discuss what role the VA plays in a VA … (0 comments)

st louis: FHA - Closing Costs and Down Payment Help - St. Charles and St. Louis Mo - 07/22/11 09:24 AM

 
Your money will help you more when it is in your pocket and not the pocket of your mortgage lender. Most home buyers today whether they are first time home buyers or move up buyers are finding it difficult to keep their savings or coming up with the funds to close or for the down payment.
Are you a First Time Home Buyer? Move Up Buyer? Are you looking for a low down payment mortgage program? Do you need the seller of your next new home to pay for closing costs? Are you going to utilize FHA, USDA/Rural Development … (0 comments)

st louis: FHA Mortgage Help and First Time Home Buyer Do and Don't Top Ten - 06/20/11 09:40 AM
Are you a first time home buyer? Are you buying a new home in St. Charles, St. Louis or anywhere in the State of Missouri. Here is some help not only for FHA mortgages but for anyone getting a new mortgage.
I have been a Mortgage Loan Officer in the St. Louis and St. Charles area for nearly 20 years and here are some of my TOP Do's and Don'ts for a First Time Home Buyer, FHA Mortgage or anyone buying a new home in Missouri.
This isn't your typical list but it is the Top 10 of what I have … (0 comments)

st louis: FHA - Less Than Perfect Credit Score Mortgage - 06/07/11 08:42 AM
There's Hope For Every Home Buyer With Less Than Perfect Credit
Have you been turned down by other mortgage lenders for a FHA mortgage because of less than perfect credit? Are you concerned because you know you have had credit issues in the past or you just aren't sure of your credit situation?
We have all heard it is getting harder and harder to get a new home loan, especially if your credit scores are less than perfect. FHA allows for less than perfect credit score mortgage approvals, but many lenders have their own overlays to what FHA wants.
Today if … (2 comments)

 
Bob Rutledge, FHA 203k - USDA - FHA - Down Payment Assistance (USA Mortgage) Rainmaker large

Bob Rutledge

FHA 203k - USDA - FHA - Down Payment Assistance

Saint Louis, MO

More about me…

USA Mortgage

Address: 12140 Woodcrest Executive Drive, Suite 150, St. Louis, Mo, 63141

Office: (314) 628-2218

Mobile: (314) 913-9678

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