home loans: When working with family is a problem... - 06/28/17 12:45 PM
So, I got in the mortgage business in the late 70's (before ECOA or Fair Lending, to be honest!). In the early '80's I decided to become a loan officer (which was unheard of for a woman to be in the sales department vs. behind a desk!) 
I convinced my husband, Jim, to give up his CPA profession and come into the business in the late 80's. We accepted our oldest daughter's (Michelle) request to come to work with us in the early 90's. Our next daughter, Stephanie, who was working as a stock timer came to us right after 9-11 and asked to join … (7 comments)

home loans: Seller Concessions on VA Home Loans Can Be Used to Pay Off Debt - 06/28/17 10:37 AM
VA loans offer a truly unique, deal-saving option that few understand! While you may know that VA has a seller concession limit of 4% of the sales price, you might not know WHAT is included in that 4%.
Sellers can pay up to 4% in sales concessions to include:
Buyer's funding fee
Prepaid taxes and insurance
Gifts such as television, microwave, etc
Interest rate buy down points
Temporary buy down funds
Payoff of credit balances or judgments on behalf of the buyer (Yep! That's right!)
Payment of closing costs and normal discount points (that aren't for the purpose of buying down the interest rate) are NOT included in the … (2 comments)

home loans: Rules on Gifts Vary by Program - 06/26/17 11:34 AM
Many states, such as Colorado, offer down payment assistance programs, or even county bond programs, such as the El Paso County Bond program. But sometimes a family member is interested in gifting you down payment money. It's important to understand the guidelines of a gift for down payment will vary by the financing vehicle you choose.
Below is a comparison chart to help you make your decision on which is best for you.
For more information on Colorado Home Loan options, contact me. Or call a local lender licensed in your area.
*Chart provided courtesy of and with permission from MortgageCurrentcy.com

home loans: The New Loan App – Designed to be More User Friendly! - 06/21/17 04:42 PM
Remember when the Good Faith Estimate (GFE) and Truth In Lending (TIL) forms went away in October, 2015 to make it more “User Friendly”? The two forms were combined into one, called the Loan Estimate (LE).  Two forms, 1 page each, combined into one form, which became 3 pages.  (New math, maybe? 1 plus 1 equals 3??)
And remember the HMDA information section (Race and Sex)? Well, previously there were 7 options to pick their race. Now there are 21 options plus a place to write in others not listed! Some options offered include Mexican, Puerto-Rican, Cuban, Guamanian or Chamorro (what?? I … (0 comments)

home loans: Tickle Me Tuesday! - 06/13/17 11:03 AM
As a start to the weekly Tuesday morning sales meeting, we always share a one liner. That happens right after the Pledge of Allegiance and then the "7 hug exchange". Our one liners aren't always real estate related, but this week it was:
So, all joking aside, here are some appraisal updates you might not have heard about yet:
Good News! VA is now allowing appraisers to use sale of comparable homes that may be located miles from the subject property. However, the appraiser must clearly document and justify why those comps were … (11 comments)

home loans: 80% of Millenials Want to Buy a Home, so what's the problem? - 06/01/17 02:33 PM
It wasn't long ago we were reading statistics that showed most young people preferred to rent and NOT own. They had watched too many of their friends and family go through the foreclosure nightmare caused typically from a down market. Even though we've survived that bubble, NAR's 2017 Home Buyer and Seller Generational Trends Report indicated that among all sellers last year still 12% wanted to move earlier than they did, but couldn't because their home value still was less than they owned. Current upward housing market trends would suggest more motivated sellers may be encouraged to sell giving some relief to the low inventory some parts of the country … (5 comments)

home loans: FNMA & FHLMC news! - 09/08/08 07:41 AM
The following email was received by the Owner and Chairman of WR Starkey Mortgage, Bill Starkey, Jr., this morning regarding the recent announcement regarding FNMA & FHLMC:
The Federal Government has placed both FNMA and FHLMC under conservatorship as of this past weekend.  While many will have an immediate reaction that appears to be negative, this is the best possible solution that we could have hoped for as it relates to the mortgage industry.  To understand this process in detail, you must first understand how the mortgage industry operates on a day-to-day basis...........
Fannie and Freddie both purchase home loans from … (2 comments)

Ruth  Vogt, 719-592-0855 Apply 24/7 www.ColoradoHomeLender.com (Fairway Independent Mortgage, LLS. Equal Housing Opportunity. Regulated by the Division of Real Estate.)

Ruth Vogt

719-592-0855 Apply 24/7 www.ColoradoHomeLender.com

Colorado Springs, CO

More about me…

Fairway Independent Mortgage, LLS. Equal Housing Opportunity. Regulated by the Division of Real Estate.

Address: Serving Colorado Springs and surrounding areas, Offering FHA, VA, conventional, bond financing programs, Contact , ME, 719-592-0855

Office: (719) 592-0855

Mobile: (303) 881-7849

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