fha loans: FHA Tip Of The Day - 09/08/08 08:23 AM
Did you know that collections can not effect title on Texas Properties?  So, why would you lender require you to ever pay them off?  It's not a requirement to pay off collections on FHA loans in Texas.  This kind of knowledge will help you close more loans and make new friends.

Jeff Schraeder
DWF Loan Officer
Imperial Mortgage
(0 comments)

fha loans: FHA Tip Of The Day - 08/12/08 04:39 AM
HUD guidelines do not require that a married couple both be on the loan, however, the debts from a a non-purchasing spouse must be counted in the DTI ratios. That being said, did you know that derogatory trade lines (from the non-purchasing spouse), such as collections and judgments, are NOT counted against the loan attributes?

Jeff Schraeder
DFW Loan Officer
Imperial Mortgage
(1 comments)

fha loans: FHA Tip Of The Day - 08/07/08 05:10 AM
Don't forget that HUD guidelines do not require a borrower to have a credit score. You can use alternative trade lines to establish a min. of 12-mo history to qualify for an FHA loan.You can use a variety of alternative trade lines such as: rental housing; utilities; telephone service; cable television service; insurance payments (excluding those paid through payroll deductions), such as medical, automobile, life, household, and renter's insurance; payments to child care providers; school tuition; payments to local stores; payments for the uninsured portion of any medical bills; etc.
 
Imperial Mortgage
DFW Loan Officer
Jeff Schraeder
(0 comments)

fha loans: FHA Tip Of The Day - 08/06/08 04:31 AM
Don't forget that HUD guidelines allow your documents to be up to 120-day's old, and up to 180-days old on new construction.  If you can find the right bank this will work. This kind of knowledge will help you close more loans.

HUD guidelines sayNO MINIMUM SCORE for ANY FHA borrower!
 Imperial Mortgage
Dfw Loan Officer
Jeff Schraeder
(0 comments)

fha loans: FHA Tip of the day. - 08/04/08 07:34 AM
HUD guidelines will allow for a borrower to remain in an active CH. 13 BK or a CCCS, as long as you have a 12-mo on-time payment history, and permission from the trustee or the counseling agency.  If you can find the right bank this will work. This kind of knowledge will help you close more loans.
 
Imperial Mortgage
DFW Loan Officer
Jeff Schraeder
(0 comments)

fha loans: FHA Tip Of The Day - 07/18/08 07:36 AM
FHA will allow a court ordered judgment that has been in a repayment plan for just 6-mo. Most lenders require a 12-mo repayment history, but HUD guide lines support just 6-mo on time payments. If you can find the right bank this will work. This kind of knowledge will help you close more loans.
 
Jeff Schraeder
Imperial Mortgage
DFWLoanofficer.com
(2 comments)

 
Jeff Schraeder (Southwest Funding)

Jeff Schraeder

Dallas, TX

More about me…

Southwest Funding

Office: 972(389) 464-9203

Mobile: (214) 532-6692

Email Me

Discover what others have, no one works harder to get you your dream house. Our experienced staff is here to work with you to develop your loan application quickly, accurately, and honestly to make the strongest case for you. Then we shop our network of wholesale lenders to find the loan program that fits you best. We pride ourselves in helping you get your questions answered with prompt, courteous service. We never forget that it is personalized one on one service that sets us apart from the rest.


Listings

Links

Archives

RSS 2.0 Feed for this blog