The Mortgage Brothers Show

In this episode, we covered gaps in employment. In some time in their life, most people will probably have a gap in employment. The reason why gaps are even defined or talked about is that underwriters are looking to see the sustainability and likelihood of you continuing to make an income.

In this episode, we covered how a parent can purchase a home for their child while treating it as a primary residence, allowing for better rates and lower down payments. The good news is that this can also be done the other way around, with the child helping out the parent.

In this episode, we discuss the advantages of FHA versus conventional loans and which might be right for you. We hear a lot about how people don’t want FHA loans because of mortgage insurance and we also get people calling concerned about FHA loans because of the appraisals. This is more of an old school issue that used to exist. Today, the FHA appraisals should be very standard, just like conventional.

In this episode, we talked about combo mortgages. In most cases, we talk about these when someone needs a loan above the maximum conventional loan limit of $484,000. A combo mortgage will help you bridge a gap and get a little more money.

In this episode, we talked about something that is, of course, a sad, hard time for a lot of folks — divorce. Divorce is a tough emotional time for everyone with a lot of things to consider, one of which is the roof over your head. One common piece of advice you’ll hear is to find a good attorney, a good financial planner, and a good mortgage broker. In most cases, when our borrowers come to us, one spouse is going to stay in the home and refinance that loan into their name alone and the other will want to get off the title and buy another property.

An example of why buying a home with cash may not be in a Buyer’s best financial interest. Assume a Buyer has $250,000 to invest.

So, this is a quick one. Recently, the Federal Reserve lowered the Fed Funds rate from 2.25% down to 2%. So, in this episode, we’ll get into what this means for home mortgages.

In this episode we go through what self-employed borrowers need to show us to get a mortgage. Self-employed folks are perhaps the hardest working borrowers we come across and, unfortunately, banks don’t cut them any slack when it comes to getting approved for a mortgage. Self-employed borrowers make up about 30% of our applications. When it comes to self-employed borrowers, we ask two questions when you call us about getting pre-qualified or how the process works.

In this episode, we covered issues that might arise when you receive an appraisal on your detached guest home, also know as a casita.

In this episode, we went over two major refinance updates, one with the FHA and the other with the VA. We wish that we were passing on better news, but this is basically the government tightening restrictions on some of the loan parameters.

In this episode, we went over what you need to know about buying a home with a VA Mortgage. If you’re an active duty service member or a military veteran looking for a great deal on a home loan, you owe it to yourself to look into the VA loan. With incredibly low rates and a minimum credit score requirement of 620, VA loans are one of the best loan programs in the mortgage market. You might be surprised at how easy it is to qualify and be approved for your home loan.

How does Personal Property in a Purchase Contract affect Lenders? Why are we talking about it?

Lenders are not involved in the BINSR process directly. We want to discuss how the BINSR and home inspection process affects a mortgage indirectly.