mortgage richmond va: How to Lose a House in 10 Ways
- 09/30/14 04:48 AM
True or false? All’s fair in buying and selling. All of us remember the 2003 hit rom-com with Kate Hudson and Matthew McConaughey, How To Lose a Guy in 10 Days. Andy Anderson (Hudson), Composure magazine’s how-to girl, is writing an article about the things women do to ruin their chances with men: talking about marriage and children too soon, calling them by embarrassing pet names, moving into their medicine cabinet, crashing poker night, etc. She picks advertising executive Benjamin Barry (McConaughey) as her test male, however, Ben has just entered a bet to make a woman fall in love with him in 10 … (68 comments)
mortgage richmond va: Credit Disputes Have to Be Removed Before A Mortgage Can Be Approved
- 07/25/14 05:36 AM
Why Do Credit Disputes Have to Be Removed Before My Mortgage Can Be Approve? This post has been a draft for almost a month, but I just couldn’t figure out the best way to present the topic. However, at lunch with a few realtors yesterday, I heard a story that really highlights the importance of this topic within the context of a real estate transaction. Dispute Dilemma The realtor in this case was the listing agent and was about to close on a home. Just before they were to settle, a delay presented itself in the mortgage process. From what I can gather, a … (15 comments)
mortgage richmond va: 203k: Timeline and Troubleshooting
- 05/06/14 10:51 PM
I just closed on a 203k loan last week, so the process is fresh in my mind. If you are unfamiliar with an FHA 203k renovation loan, check out this post. I thought it would be helpful for borrowers considering a 203k to read about the process of this loan product. Here’s a timeline of a full 203k mortgage from my company First Home Mortgage’s informational materials: 203k Timeline Pre-Closing Borrower goes through the prequalification process. Borrower finds a home that needs or requires repairs or renovations and determines that the estimated cost of these repairs or renovations plus the cost of the home will … (3 comments)
mortgage richmond va: Sourcing a Deposit
- 04/29/14 05:34 AM
Has the Underwriter Asked You To Source a Deposit? One of my most recent clients who bought a home in Richmond VA was self-employed. Because of the nature of her business, she made several large deposits into her bank accounts throughout the month. The deposits were payments from clients. Since they were large and not payroll, the underwriter requested that she “source” the deposits. What Does “Sourcing” Mean? In the mortgage industry, “sourcing” simply means to explain where funds came from (usually with a letter of explanation) and provide documentation to support the explanation. Here are a few examples of deposits you may need to source: Money from the sale of … (12 comments)
True or false? All’s fair in buying and selling. 
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