financing options: Selling Your Home? Should You be Leery of Accepting an Offer from Buyers Approved for FHA Financing? - 11/29/18 11:06 AM
 
 
Selling Your Home?
Should You be Leery of Accepting an Offer from
Buyers Approved for FHA Financing?
 
It's not unheard of to hear my Borrowers (and their Agents) say that Sellers are expressing a leeriness about accepting offers from FHA  Buyers ... 
 
Typically these Sellers' uneasiness is based on rumors and stories they've heard about the difficulty of passing an FHA Appraisal.  They think they'll be required to make their home "right for FHA Financing".    The prevailing thought is typically that FHA ... or the Lender ... will require that they complete a long list of repairs prior to Closing.  That they as a … (45 comments)

financing options: Get Ready for "HomeReady" from Fannie Mae - 07/06/17 09:27 AM
 
Get Ready for "HomeReady" from Fannie Mae
 
After years of warranted tightening of guidelines in the Mortgage Industry, there are some new changes taking place that help to "relax" some guidelines, as they pertain to Fannie Mae (Conventional Loans) ...
 Come mid-July, 2017, Fannie Mae's Automated Underwriting Systems will be "tweaked" to allow up to a 50% Total Debt-to-Income Ratios (DTI) ... in some cases, not all. I believe there will be a sort of "learning curve" or learning period that takes place during the early days of this "tweak" ... but, you can probably safely assume that the following scenarios will NOT fall within those scenarios … (28 comments)

 
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) Rainmaker large

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience

New Lenox, IL

More about me…

NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656

Address: Gene Mundt, Mortgage Originator c/o American Portfolio Mortgage Corp., 318 Alana Drive, New Lenox, IL, 60451

Mobile: (708) 921-6331

Office: (815) 524-2280

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