karen burket: The Baptist Dog - 08/10/11 08:04 AM
A Baptist preacher and his wife decided to get a new dog. Ever mindful of the congregation, they knew the dog must also be a Baptist. They visited kennel after kennel and explained their needs. Finally, they found a kennel whose owner assured them he had just the dog they wanted. The owner brought the dog to meet the pastor and his wife. "Fetch the Bible," he commanded. The dog bounded to the bookshelf, scrutinized the books, located the Bible, and brought it to the owner. "Now find Psalm 23," he commanded. The dog dropped the Bible to the floor, and … (18 comments)

karen burket: Money for sale!!!! - 08/10/11 06:52 AM
Rates are so low, it's like the US is having a going out of business sale!   This morning’s Conventional FIXED and ARM rate quotes are:                            
30 Year                                                 4.000%   (4.239% APR)                                               
15 Year                                                 3.250%   (3.489% APR)
5/1 ARM                                              3.125%   (3.373% APR)
3/1 ARM                                              3.125%   (3.373% APR)
                                                                                                         
 
*These rates are available for an 80% LTV purchase or rate/term refinance transaction with a 740+ FICO
score and loan amount between $125,000 - $417,000 based upon a 1% Origination Fee and 30 day lock
using Approved Lenders.
 
This morning’s Government FIXED rate quotes are:                                            … (2 comments)

karen burket: Evaluating and using Tax Returns for Mortgage Financing (part 2) - 08/09/11 10:57 AM
Evaluating and using Tax Returns for Mortgage Financing - Part 2
 
I posted this part one and two series a few months ago.  Some recent conversations with some Realtors and clients spurred me to repost some of this information as it appears there are some misconceptions as to how income gets calculated when using tax returns.
 
In Part One, we addressed how rental income is evaluated in terms of qualifying for mortgage financing.  Here in Part 2, let's delve into this whole issue of using tax returns for mortgage financing, and evaluating those return schedules, a little deeper.
 
(2 comments)

karen burket: Daily Rate Blast - Medford Oregon Mortgage Interest Rates - August 9, 2011 - 08/09/11 06:32 AM
Daily Rate Blast - Medford Oregon Mortgage Interest Rates - August 9, 2011

This morning’s Conventional FIXED and ARM rate quotes are:                            
30 Year                                                 4.375%   (4.622% APR)                                               
15 Year                                                 3.500%   (3.742% APR)
5/1 ARM                                              3.125%   (3.373% APR)
3/1 ARM                                              3.125%   (3.373% APR)
                                                                                                         
 
*These rates are available for an 80% LTV purchase or rate/term refinance transaction with a 740+ FICO
score and loan amount between $125,000 - $417,000 based upon a 1% Origination Fee and 30 day lock
using Approved Lenders.
 
This morning’s Government FIXED rate quotes are:                                              
FHA … (2 comments)

karen burket: Evaluating and using Tax Returns for Mortgage Financing (Part One) - 08/04/11 06:22 AM
Evaluating and using Tax Returns for Mortgage Financing (Part One)

Chances are you have heard how the mortgage lending environment has changed and that it's becoming more challenging to obtain mortgage financing.  While that is certainly the case, there are still options out there.  In this Part One series, we will discuss how lenders analyze tax returns for mortgage financing.
 
 
Many self employed individuals or folks with complicated tax returns may be interested to know what mortgage lenders look for in those returns in order to establish qualifying income.  While different lenders may look at some situations differently, … (8 comments)

karen burket: Potatos - 08/04/11 06:13 AM
Well, A Girl Potato and Boy Potato had eyes for each other,And finally they got married, and had a little sweet potato, which they called'Yam.'Of course, they wanted the best for Yam.When it was time, they told her about the facts of life.They warned her about going outAnd Getting half-baked, so she wouldn't get accidentally mashed, and get a badName for herself like 'Hot Potato,' andend up with a bunch of Tater TotsYam said not to worry, no Spud would get her into the sack and Make a rotten potato out of her!But on the other hand she Wouldn't stay home and … (19 comments)

karen burket: Daily Rate Blast - Medford Oregon Mortgage Interest Rates - August 3, 2011 - 08/03/11 06:05 AM
Daily Rate Blast - Medford Oregon Mortgage Interest Rates - August 3, 2011 
 
This morning’s Conventional FIXED and ARM rate quotes are:                            
30 Year                                                 4.250%   (4.488% APR)                                               
15 Year                                                 3.500%   (3.742% APR)
5/1 ARM                                              3.000%   (3.237% APR)
3/1 ARM                                              3.000%   (3.237% APR)
                                                                                                         
 
*These rates are available for an 80% LTV purchase or rate/term refinance transaction with a 740+ FICO
score and loan amount between $125,000 - $417,000 based upon a 1% Origination Fee and 30 day lock
using Approved Lenders.
 
This morning’s Government FIXED rate quotes are:                                              
FHA … (0 comments)

karen burket: Daily Rate Blast - Medford Oregon Mortgage Interest Rates - August 2, 2011 - 08/02/11 05:44 AM
Daily Rate Blast - Medford Oregon Mortgage Interest Rates - August 2, 2011

This morning’s Conventional FIXED and ARM rate quotes are:                            
30 Year                                                 4.375%   (4.619% APR)                                               
15 Year                                                 3.625%   (3.871% APR)
5/1 ARM                                              3.000%   (3.237% APR)
3/1 ARM                                              3.125%   (3.368% APR)
                                                                                                         
 
*These rates are available for an 80% LTV purchase or rate/term refinance transaction with a 740+ FICO
score and loan amount between $125,000 - $417,000 based upon a 1% Origination Fee and 30 day lock
using Approved Lenders.
 
This morning’s Government FIXED rate quotes are:                                              
FHA … (0 comments)

karen burket: Are open house visitors intentionally opening all the doors and windows? - 08/01/11 02:31 PM
While I'm not a Realtor myself, Bryan Robertson gives some GREAT safety tips and advice for folks holding open houses at their property.  Whether you are a Realtor or someone trying to sell your home on your own, and you want to utilize an Open House strategy, this is important safety information!  If you'd like to comment, please respond directly to Bryan's post.  Thanks Bryan, again, for a great post and advice! 
When a homeowner puts their house on the market, they should get a stern warning from their REALTOR - protect your valuables, keep all your doors and windows locked at all … (3 comments)

karen burket: Are you a lollygagger? - 08/01/11 10:50 AM
To lollygag...to dawdle or waste time.
Are you a lollygagger?  I sure hope not.  I was just out running some noon time errands and came upon an intersection with a couple of pedestrians.  They had the "walk" sign and proceeded into the intersection.  I waited for them to cross as so I could make my left hand turn.  I waited, and waited, and waited and waited.  I ended up missing the light and had to wait through another cycle of the traffic lights so I could "take my turn" within the intersection.
You may be wondering why I missed the light. … (8 comments)

karen burket: There was a salamander in the line! - 08/01/11 08:12 AM
Yup, you heard me right, there was a salamander in the line!
Dear hubby and I are blessed to be living in beautiful Rogue Valley here in Southern Oregon.  Our house sits on a few acres overlooking the beautiful valley and we're fortunate to have irrigation rights as a watering source for the lawns and gardens.
Well, on Saturday I went out to turn on the sprinklers in the front flower bed.  Turning the valve produced absolutely no water.  On Sunday we started trouble shooting why there was no water pressure in the front line.  All the other lines were fine … (6 comments)

karen burket: Daily Rate Blast - Medford Oregon Mortgage Interest Rates - August 1, 2011 - 08/01/11 07:16 AM
Daily Rate Blast - Medford Oregon Mortgage Interest Rates - August 1, 2011

This morning’s Conventional FIXED and ARM rate quotes are:                         
  
30 Year                                                 4.500%   (4.739% APR)                                               
15 Year                                                 3.750%   (3.991% APR)
5/1 ARM                                              3.125%   (3.368% APR)
3/1 ARM                                              3.125%   (3.368% APR)
                                                                                                         
 
*These rates are available for an 80% LTV purchase or rate/term refinance transaction with a 740+ FICO
score and loan amount between $125,000 - $417,000 based upon a 1% Origination Fee and 30 day lock
using Approved Lenders.
 
This morning’s Government FIXED rate quotes are:                                              
(0 comments)

karen burket: Great Pizza at Wild River Brewing and Pizza! - 07/29/11 10:05 AM
Great Pizza at Wild River Brewing and Pizza!
 
I decided to work from home today...both mortgage work related as well as doing some chores around the house.
Dear hubby surprised me when he came home about an hour ago and said "Let me take you to lunch!"  I'm certainly not going to turn down a mid afternoon date with my best guy!  We decided to head into town to Wild River Brewing.   It's funny, my parents actually frequent this place for lunch A LOT!  (Let's just say that the entire staff knows them by name and are pretty confident on … (10 comments)

karen burket: I've been remiss...My Saturday Foodie Post..oh wait...it ain't Saturday.... - 07/29/11 05:57 AM
 
So last night I got home...ooops, what to make for dinner in that I hadn't pulled anything out of the freezer.   What did I have on hand?
Baby spinach, pasta, bacon (who the heck doesn't like BACON), some cooked prawns, Asiago cheese, half n half, butter, garlic...ok, you get the picture.

 
So, I thawed some shrimp I had and removed the tails.  Into the fridge they went.  I you have the FRESH stuff, more power to you!  I took several slices of bacon, cut them into chunks and fried them up.  After they were done, drain on … (20 comments)

karen burket: Daily Rate Blast - Mortgage Interest Rates - Medford, Oregon - July 29, 2011 - 07/29/11 05:35 AM
Daily Rate Blast - Mortgage Interest Rates - Medford Oregon - July 29, 2011

This morning’s Conventional FIXED and ARM rate quotes are:                            
30 Year                                                 4.500%   (4.739% APR)                                               
15 Year                                                 3.750%   (3.991% APR)
5/1 ARM                                              3.125%   (3.368% APR)
3/1 ARM                                              3.125%   (3.368% APR)
                                                                                                         
 
*These rates are available for an 80% LTV purchase or rate/term refinance transaction with a 740+ FICO
score and loan amount between $125,000 - $417,000 based upon a 1% Origination Fee and 30 day lock
using Approved Lenders.
 
This morning’s Government FIXED rate quotes are:                                              
FHA 30 Year                                        4.250%   (4.491% APR)                                               
FHA 15 Year                                        3.500%   (3.738% APR)
VA … (2 comments)

karen burket: The Jewish Genie (Thursday funny) - 07/28/11 10:00 AM
JEWISH GENIE   An Arab had spent many days crossing the desert without finding a source of water.  It got so bad that his camel died of thirst. He crawled through the sands, certain that he was breathing his last breath, when suddenly, he saw a shiny object sticking out of the sand several yards ahead of him. He crawled to the object, pulled it out of the sand, and discovered that he had a Manischewitz wine bottle. It appeared that there may be a drop or two left in the bottle, so he unscrewed the top, and out popped a … (16 comments)

karen burket: Is the bank holding the seller hostage? - 07/28/11 07:30 AM
Is the bank holding the seller hostage?
This one of the strangest things I've heard.  I have borrowers who put in an offer on a short sale months ago.  The seller accepted it and of course, it's been in the hands of the bank for months now.  I phoned my borrowers agent earlier this morning to see if he had any update to the offer being accepted by the bank.
Here's the hold up.  The bank is requiring the seller to sign a $15,000 Promissory Note, payable at closing.  How in the heck does the bank think the seller is going … (7 comments)

karen burket: The eternal optimist. - 07/28/11 06:47 AM
Rodney is the eternal optimist.  Does he like to go bye bye in the truck?  Heavens no.  He loves, Loves, LOVES to go bye bye in the truck!
 
So, I arrived home from work the other day to find dear hubby working on the roof, for the new shop he's building.  I pull into the garage and I'm pleasantly greeted by my favorite four legged fur child.  I head outside, to see what kind of trouble dear hubby is getting into....(more like making sure he hasn't fallen off a ladder or ended up with a nail gun injury).  All … (14 comments)

karen burket: Must be nice not to have to file taxes....or is it? - 07/27/11 07:03 AM
He doesn't file taxes, can he still get a loan?
Have you ever worked with a client who wasn't required to file tax returns?  Our office was recently working with a gentleman who, because of his age and earnings, wasn't required to file a tax return.
In recent years, lenders have been REQUIRED to pull what's called a 4506-T, or verification of Tax Transcript.  It's been required from really an auditing standpoint to make sure that the tax returns the borrower provides the lender for qualifying purposes are INDEED the same returns they provided the IRS.  In a nutshell, it's all to … (12 comments)

karen burket: Reviewing Bank Statements for Non Payroll Deposits-This bears repeating! - 07/26/11 11:09 AM
Reviewing Bank Statements for Non Payroll Deposits
Back in the day, it wasn't uncommon for an underwriter to ask for an explanation as to an out of the ordinary, large deposit, into a borrower's bank account.  The underwriter would ask for this explanation to determine there were not non seasoned funds in an account that perhaps were borrowed monies.
Well, flash forward to the new world of mortgage lending and underwriting standards.  Boy have things changed.  Many investors are now requiring an explanation and paper-trail on any deposit that is non payroll related. While just the other day I had to have … (11 comments)

 
Karen Burket, Valley Mortgage Grou, Conventional, FHA, VA, mortgages (Bank of Oregon a division of Willamette Valley Bank )

Karen Burket

Valley Mortgage Grou, Conventional, FHA, VA, mortgages

Medford, OR

More about me…

Bank of Oregon a division of Willamette Valley Bank

Address: Medford, Central Point, Eagle Point, White City, Rogue River, Grants Pass, Klamath Falls, Jacksonville,, Medford, OR, 97504

Office: (541) 842-5605

Mobile: (541) 890-3262

Email Me

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You can find great local Medford, OR real estate information on Localism.com Karen Burket-Bank of Oregon Home Loans Conventional, FHA, VA, mortgages is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business. Feedjit Live Blog Stats


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