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.