The Mortgage Broker Advisors Originator Roundtable

The limited FHA 203(k) rehab loan is geared toward minor improvements and repairs. No structural work is allowed, so you won’t be able to knock out walls or add rooms. In some cases, borrowers may be allowed to do some of the home improvement work, but a licensed contractor must be involved in the process. A 203(k) consultant isn’t required on a limited 203(k) loan. The maximum loan-to-value (LTV)...

Many homebuyers across the U.S. wonder how to save for a down payment with a tight budget. With rent rates climbing, inflation rising, and house prices still high, saving money for a down payment has become more tricky. The good news is that you can use several tips and tricks to save money and cut expenses. Let's explore some ways you can save money for a down payment. DPA https://www.mkgenterpri...

5 Steps to Buying A House with 620 FICO Without Breaking The Bank Must have a minimum 620 FICO Must be employed and currently working at your job for at least 2 years Participate in a Employer Retirement Plan 401k, 403b, Safe Harbor 401k. Have at least 3/mo to 6/mo reserves $6,561 -$13,122 saved in the bank. DTI less than 43% If you meet all the requirements above you may be eligible to qualify fo...

The income limit for Fresno County has increased by $6,500 and AMI limits is now $63,520 which is 80% of the Area Median Income. Calculate your debt-to-income ratio (DTI) with 43% of AMI income limits to determine your eligibility for the loan. Don’t miss out on this chance to get a large sum of money with zero interest! Invest in yourself and make your dreams a reality. Get financial security and...

On May 25, 2023 Fresno Mayor announced $100k forgivable loans for Fresno home buyers.  The City of Fresno Mortgage Assistance Program will provide down payment assistance. The City’s second mortgage loan will be a 15-Year Forgivable Deferred Payment Loan (DPL) up to $100,000 with a zero percent (0%) interest rate.  FHA Loan applicants must have a miThe DPL will provide homeownership for...

Home equity has proven to be one of the strongest ways for families to build and pass on intergenerational wealth and CalHFA is committed to improving equitable access to homeownership for all Californians.  On March 27, 2023 CalHFA will make the CA Dream for All Shared Appreciation Loan Program available to California First-Time Homebuyers. 20% Down Payment Assistance up to $145,240  FI...

On March 27, 2023 CalHFA will make the CA Dream for All Shared Appreciation Loan Program available to approved lenders. Download the Digitial Mortgage Broker Mobile App in Google Play to learn more about down payment assistance programs. https://bit.ly/40Bb5es Fannie Mae Area Median Income Lookup Tool https://ami-lookup-tool.fanniemae.com/amilookuptool 80% AMI divided income limit by 12 Calculate...

FHFA raises 2023 conforming loan limits on Fannie Mae, Freddie Mac mortgages The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2023.  In most of the United States, the 2023 CLL value for one-unit properties will be $726,200, an increase of $79,000 from $647,200 in 20...

Mortgage lenders may request a rapid rescore to have new payment information added to your credit reports quickly. This may result in a potential increase to your credit score, possibly improving your loan eligibility. When you apply for a home loan, your mortgage lender may require you to pay off any past-due debts or outstanding loans before approving your loan application. Rapid rescoring is a...

The Federal Housing Finance Agency (FHFA) today announced on October 24, 2022 targeted changes to Fannie Mae and Freddie Mac's (the Enterprises) guarantee fee pricing by eliminating upfront fees for certain borrowers and affordable mortgage products, while implementing targeted increases to the upfront fees for most cash-out refinance loans. ​As part of the pricing changes stemming from the Agency...

FHFA Approves FICO 10T and VantageScore 4.0 Credit Models  New Credit Models Benefit Borrowers & Enterprises  The Federal Housing Finance Agency (FHFA) announced October 24, 2022 validation of both the FICO 10T credit score model and the VantageScore 4.0 credit score include rent, utilities and telecom payments, delivering a more accurate and inclusive credit model for use by Fannie...

Finding a good relator & loan officer that knows the local market Co-founder of a top real estate team in Fresno called Strive Real Estate Group at Real Broker. Helped 144 families in 2021. Receives cash flow from 17 doors with 3 being an Airbnb. OUR MISSION To provide our clients with sound business advice and represent their interests with the highest level of professionalism, intelligence a...

Zero down-payment mortgages and similar programs appear to have recently been gaining traction on Main Street. Bank of America announced Aug. 30 that it is launching a trial program, called the Community Affordable Loan Solution, offering mortgages that do not require closing costs, down payments or minimum credit scores. People in predominantly Hispanic or Black neighborhoods in Charlotte, North...

When you borrow money to buy a home, you’ll see many numbers thrown around . Most buyers focus on the purchase price of the home. It’s an indicator of whether or not you can afford the price. But since you probably won’t pay cash only, you must consider the loan amount.  The loan amount is the money you borrow to buy the home. It usually differs from the purchase price since most lenders don’...

How to buy a house with cryptocurrency Cryptocurrency is proving to be less of a trend and more of a force that’s here to stay. Bitcoin (BTC) reached an all-time high of over $68,000 in November 2021 after starting the year at just under $30,000, and the crypto industry  as a whole grew to a  total market cap  of more than $2 trillion.  It makes sense that cryptocurrency invest...

Why waste money on rent when you can buy? Consider being a homeowner instead of paying the landlord mortgage not earning equity. Average Home Equity Banking Return-On-Investment $377,705 x 5.4% appreciation $20,396 yearly The benefits of being a homeowner allows you to earn equity in your home 2% per month that will appreciate side-by-side with a traditional 401K retirement plan annually. You can...

MKG Enterprises Corp Third-Party Originator's NLMS #1370394 is pleased to introduce the Down Payment Assistance program through our Wholesale channel. The key features of this program are as follows: Available for FHA products Available in all states except New York and Puerto Rico Assistance amount is up to 5% of the loan amount Borrowers can use the assistance for the minimum required investment...