VA LENDING GUIDELINES CLARIFIED

Historically, the VA has provided very little guidance in several areas of lending. That practice is changing with the following clearly defined guidelines becoming effective May 23, 2019. Gift funds are acceptable from a donor who has NO affiliation with … Continue reading

FHA LOAN GUIDELINES CLARIFIED

Effective March 18, 2019, the Federal Housing Administration (FHA) announced that it began taking initial steps to better mitigate the increased risks in recent single-family loans. This announcement comes as a result of the decrease in average borrower credit scores … Continue reading

NOT ALL PRIVATE ROADS ARE TREATED THE SAME

In the lending world, there is often a fear of private roads when in fact, not all private roads are treated the same.  Each of the traditional loan guidelines have varying guidelines which I’ve outlined below. FHA defines access to … Continue reading

NEW VA REFINANCE GUIDELINES EFFECTIVE FEBRUARY 16, 2019

In an effort to take better care of our active duty service members and Veterans, VA has made some significant changes to both the IRRL (interest rate reduction refinance loan) and the cash-out refinance options. Historically, almost immediately upon closing … Continue reading

CONSIDERING FREEZING YOUR CREDIT? WHAT YOU NEED TO KNOW

With the increased frequency of security breaches that we hear throughout the news, it’s hard not to get concerned about who may have access to your credit and other personal information. In considering ways to protect yourself, freezing your credit … Continue reading