Brett Sampson's (bsampson) Blog

I’ve written about this before, but I think it’s worth repeating:If you are trying to purchase a house using part time job income the underwriter will want to see that you have a two year stream of this part time income before they will give you credit for it.Incidentally it works the same with b...

Believe it or not it’s still very hard to get a Conventional loan approved with a debt to income ratio higher than 45%.I wanted to give you one little trick you can use to help out with your debt to income ratio.…Use lender paid mortgage insurance – have your mortgage lender pay your mortgage ins...

I had this situation come up again last week…Advice: If you enter into a lease option agreement don’t give cash for the option money.The reason is when you try to buy the house down the road you will have to prove you gave the option money to get credit for it. …it’s hard to prove cash.You can do...

Do you know the best way to get sellers to help pay your closing costs, prepaid taxes, insurance and reserves when you buy a home?…You ask them!You make it part of your offer to purchase.Here is a breakdown of the maximum seller help amounts by loan program…Program: Conventional (fannie/freddie),...

Did you realize that 30% of your score is made up of the ratio between your available credit vs your actual balances on revolving credit accounts (like credit cards)?You don’t want to charge these accounts over 50% of the available balance, and its even better if you can keep it under 30% of the ...

Hope you had a good weekend!The other day I had a borrower ask me if they could apply for a 30 year mortgage even though they were 78 years old.I can see why they asked this question. …The odds are they may not be around for another 30 years.Just so you know… It’s against the law for mortgage com...