Brett Sampson's (bsampson) Blog

People get turned down for loans every day because their debt to income ratio is too high. Some mortgage companies max out their debt to income ratio at 45%. …Some go to 50%. I wanted you to know that I have NO LIMIT on a back end debt to income ratio. …I can do 55% or even 60% or more as long a...

If you buy a house with cash, and suddenly need your cash back – can you get a cash out loan right away? Yes! Before 2011 you couldn’t. …you had to wait 6 months after purchase, but now you can. Both Fannie Mae and Freddie Mac have a program that will allow all cash homebuyers to refinance and t...

I ran into an issue with this topic on a loan from last week, and wanted to touch on it with you… If you are trying to purchase a house with an FHA loan – and you are using part time job income, be aware of this… FHA will want to see that you have a two year stream of this part time income befor...

I was going through some marketing letters I have written for Realtors the other day. I found this letter. It’s the introduction letter in a series of three letters I use to market to Realtors. I want to share it with you in this post because I feel it explains what not only Realtors, but everyo...

I get this question alot: “If you pull my credit will it hurt my credit score?” The answer is not necessarily. When you get an inquiry on your credit it’s usually due to you applying for one of these 4 types of credit… 1) A credit check for a mortgage loan. 2) A credit check for an auto loan. 3)...

FHA is about to revert back to a minimum 90 day wait to finance a “flipped” house with an FHA loan. FHA had waived this rule during the housing crisis in an attempt to boost home sales. For a while now there has been no minimum waiting period for an investor to purchase a home, fix it up, and th...

A product of the Frank Dodd act was the creation of the Qualified Mortgage. Any bank or mortgage company that makes a mortgage loan has to make sure that it fits into the “Qualified Mortgage” rules. …and there are a lot of rules! Trust me. However, the laws of nature apply to the mortgage world t...