What Is LLPA | Loan-Level Pricing Adjustments and how does it effect you when you obtain a home mortgage? A loan-level pricing adjustment (LLPA) is a risk-based fee assessed to mortgage borrowers using a conventional mortgage. It varies by borrower, based on loan traits such as: loan-to-value (LTV), credit score, occupancy type, Purchase Rate and term refinance or Cash Out refinance and number of units in a home1, 2, 3, 4 units. Borrowers often pay LLPAs in the form of … [Read more...]
5 Key Tips To Prepare For A Quick Mortgage Approval
Whether you're finally prepared to get into the real estate market or you want to know how you can make a deal quick, there are a few necessary documents you'll need to prove your reliability to a mortgage lender. Here are the documents you'll want to have on hand when the time comes. Previous Tax Returns In order to ensure the earnings information you've provided to the lender, you'll need to have your tax returns for the two years prior to your mortgage application. In addition, you may also … [Read more...]
Getting a Mortgage After a Divorce
As a Member of The NADP National Association Of Divorce Professionals I get the opportunity to help people with a home Mortgage after a divorce. Whether one spouse must refinance the marital home to remove the other from title and the mortgage or the home needs to be sold and a new home to be purchased. In the last 2 years I helped 8 clients get approved for a home mortgage. Some we had to wait and guide the borrower what to do to be ready for a home mortgage. others had to wait much longer due … [Read more...]
Multi Family Primary Residence Conventional Home Possible 3% Down
Multi Family Primary Residence Conventional Mortgage with as little as 3% Down. New program allows home buyers to buy a Multi Family primary residence with only 5 % down payment. Home Possible is a new program that allows home buyers to buy a Multi Family Primary home with only 5% down, not like regular conventional that requires 15%-25% down Payment. The other benefits are Reduced MI Insurance, Reduced Rate. FHA multifamily Primary Home requires only 3.5% down Download the Home … [Read more...]
The Biggest Mistake Millennials Are Making Is Not Buying A Home | David Bach | CNBC .
David Bach A Personal Financial Expert Says: The Biggest Mistake Millennials Are Making Is Not Buying A Home | on CNBC. Many ask and tell me daily: Why should I buy a Home, What’s the benefit? I don't even know if I qualify Buy A Home, How to Buy a Home? and many more questions. Millenials coming out of school with student loans, sometimes feel that Buying A Home may be a far distant dream. What you have going for you is hopefully not many obligations... you didn't acquire much Credit … [Read more...]
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