Navigating the world of home loans and mortgage options can be overwhelming. Here’s some tools to help you get started – we can help answer any additional questions you may have along the way, give us a call or drop us a note here!
Monthly Gross Income $ Monthly Debt Expenses [?]
Monthly Debt and Obligations Should Include:
- Monthly Credit Card Payments
- Monthly Auto Payments
- Monthly Child Support
- Monthly Association Fees
- Other Monthly Obligations, but NOT utility bills.
$ Down Payment: $ Interest Rate: %
- ResCap Bankruptcy Plan Approved December 11, 2013After more than a year in bankruptcy, a judge has approved Residential Capital LLC's Chapter 11 Bankruptcy Plan.At one time, ResCap was among the biggest residential lenders in the country, originating $179 billion in 2003.But the company, which was heavily invested in subprime and Alt-A mortgages, began a downward spiral in 2007 as the sector disintegr […]
- Final Guidance Issued for Social Media December 11, 2013Final guidance for the use of social media by mortgage lenders and financial institutions acknowledges the value of the medium while discussing the risks and requirements for social media users.The final guidance defines social media as a form of interactive online communication in which users can generate and share content through text, images, audio and vi […]
- Record Multifamily Issuances at Freddie December 11, 2013The year isn't even over yet, but the Federal Home Loan Mortgage Corp. is already proclaiming 2013 its best year ever for multifamily issuance.This year's issuance of multifamily securities by Freddie Mac came in at $28 billion through 19 K-Deals, an announcement Wednesday said.It was an all-time record for multifamily volume at the McLean, Va.-bas […]
- DTIs Revised on Manually Underwritten FHA Loans December 11, 2013In an attempt to reduce lender overlays, revised guidelines on debt-to-income ratios have been issued for Federal Housing Administration-insured loans that are manually underwritten.Most FHA-insured loans are underwritten through automated underwriting systems that are based on FHA's Technology Open to Approved Lenders -- or TOTAL -- Mortgage Scorecard. […]
- ResCap Bankruptcy Plan Approved December 11, 2013