Real estate blog entries tagged with expense by Rob Spinosa, Mortgage Loan Originator, Marin County (US Bank)

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expense: Should You DIY Your DTI? - 05/16/18 06:09 AM

Should You DIY Your DTI?

Just like the Julian and Gregorian calendars separate time between B.C. and A.D., the passage of the Dodd-Frank Wall Street Financial Reform Act separates the way mortgages have been qualified. Loosely, before Christ (and in my opinion, Barney and Chris did hold themselves in quite high regard) many claimed you just needed to "fog a mirror" to get a home loan. But in the crusades that followed the birth of the new law, most residential mortgages must follow the provisions of ability-to-repay or "ATR." In other words, before Dodd-Frank, lenders had much greater leeway to approve or deny a … (2 comments)

expense: Bank Statement Jumbo Mortgage - 04/04/18 07:36 PM

Bank Statement Jumbo Mortgage

It is no secret that the self-employed have their share of challenges when it comes to getting a home loan. And why wouldn't they? On one hand, their tax professionals spend hours maximizing their deductions and helping them "write off" every allowable expense and on the other hand, their mortgage loan advisor tells them they have to show more income in order to qualify.

The difference of intentions is like two trains moving in opposite directions...

Yet, there may be a solution for some of these borrowers. On both the purchase and refinance side, we have a jumbo mortgage program that … (1 comments)

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