Jimmy Smith's (jvsmithii) Blog

Will the mortgage company count the payment I co-signed for my sister’s new car? It depends. Generally, your total debt obligations plus housing expense cannot be more than 43% of your gross income (this is called a debt to income ratio). Make sure you ask your trusted mortgage loan consultant, w...

What is prospecting anyways? Really, I mean what is the most effective way to prospect to build a business one customer at a time? According to most dictionaries, the term prospecting means to look out for; search for. Here is an alphabetical list of popular prospecting methods; cold calling, ema...

Qualifying for a loan using a retirement account for reserves? Better know the facts. Per Fannie Mae guidelines, vested funds from individual retirement accounts (IRA/SEP/Keogh/ and 401(k)) are acceptable sources for reserves. Vested means that the funds are 100% owned by you.   The amount a lend...

Collin County says my home increased by 10%, should I sell? My answer for you; it depends. Last week, I received my 2014 Notice of Appraised Value from the Collin Central Appraisal District and they are proposing that the total market value increased by more than 10%. I checked out all of the lat...