May 2018

Found 4 blog entries for May 2018.

What Are Non-QM Loans?

Non Qualified Mortgages are a great way for borrowers with credit glitches to take advantage of the robust real estate market.  These mortgages are originated without the guidelines associated with Fannie Mae or Freddie Mac; which means they do not have to meet their guidelines.  This is a very popular option for homeowners and investors.  These mortgages are sold to individual investment companies.

  • What Are Non-QM Loans:

    • Non Qualified Mortgages are mortgage loans that do not fall into the Qualified Mortgage Category

  • Non Qualified Mortgages are not riskier loans

  • But these loans are often called “outside of the box” loans

  • Non-QM Loans do not fit the Qualified Mortgage lending

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On a Friday in February of 2016 my brother Roger, realizing that his declining health prevented him from continuing to care for his dog Polly, he entrusted her to me for her care.  The bestowing of his most loved and cherished possession in this world was not easy for him, nor was it easy for me. For it reflected the release of that which was his greatest treasure, which reflected his acceptance that he was no longer able to be her master, providing the love, care, and affection that she was accustomed to.  Likewise accepting the new role of master for Polly brought me face to face with the imminent loss of my brother and the significance of that which he had entrusted to me.                                                                             

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FHA Mortgages: 

FHA is a government insured mortgage program. This program has more relaxed guidelines than a conventional loan.  When using FHA, expect to put at a minimum of 3.5% of the purchase price in as a down payment.  This can come from either your own funds or those from a close relative in the form of a “gift”.  FHA sets a minimum credit score of 580, at which you can qualify.  

Average FHA loan limit is $275,665, depending on the County you purchase it.  Can be higher in Metro-Atlanta or Greens County Georgia.

FHA Mortgage Insurance:

FHA requires two different types of mortgage insurance.  The first is called the upfront mortgage insurance premium (UFMIP) and is 1.75% of the total loan amount that you are borrowing.  It can be

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Each month you will be able to check how the market is doing in your county.   The interactive statistics will provide insight into Average Sales prices, Number of Closed Sales year over year, the percentage of Sales Price to List Prices, Average Days on Market, as well as the year over year numbers for distressed properties in your area.

Average Sales Price
This statistic will provide insight into year over year changes in Sales Prices..  This valuable information will provide insight into whether home prices are increasing or decreasing in your area as well as the percentage of change for each month and year over year.

Number of Closed Sales
This statistic will provide insight into the number of homes sold in your county, and the changes that

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