Wednesday, November 4, 2009
What you need to get approved!
When applying for
loan, you will need to provide some support documents for an approval. This list is simple and short in
most cases.
1. W-2’s for the last two years
2. Pay check stubs covering the last 30 days
3. Your
last month bank statements all pages
4. Contact information for your current landlord or Mortgage provider
5. Drivers
License and Social Security Card
If you happen to be self-employed, you would need to provide signed tax returns for the last two
years in lieu of the W-2’s.
It is that simple. Approvals generally take less than 2 hours once we have a
complete application and supporting documents.
Give me a call, we are here to make your dreams of owning a home a reality!
JD Price
Senior Mortgage Banker
Tuesday, April 7, 2009
A slight decrease in rates has fueled the housing market! Get Pre-Approved First!
If you have been on the fence
about purchasing a home here are some things to think about:
1. The further we get in to the purchasing season (June and July)
the fewer home you will have to choose from.
2. Interest Rates will most likely increase as we enter the buying
season!
3.
A “Good Quality” home (one that does not need major fixing) will not last long.
Side Effects: More junk will be on the market the longer you wait!
4. Many lending guidelines
are changing, despite what you hear about guidelines “loosen” up.
Side Effects: You could be approved today
but in 30 days, not so much (Borat reference, I could not help my self)
Give me a call or drop me an e-mail, take advantage of the great market conditions!
JD Price
Monday, March 23, 2009
Rural Housing Purchase Funds Availible
There is now $10 billion in PURCHASE
funds available for USDA Rural Development, Single Family Housing Guaranteed Loan Program (SFHGLP); under the American Recovery
and Reinvestment Act. This may have a positive impact on interest rates.
Wednesday, March 18, 2009
Fed Announces Purchase of More Mortgage-Backed Securities
Bernanke today announced the Fed will buy more mortgage-backed securities
guaranteed by Fannie Mae and Freddie Mac. The Fed will buy an additional $750 billion, bringing its total
purchases of MBS to $1.25 trillion. This may mean lower mortgage rates for home buyers.
Monday, March 16, 2009
Rural Housing Income Changes Delayed
Based on information we
have received from USDA, the proposed change in the income limit structure for the Rural Housing Program will not be
implemented by March 20th. This revision of the income limit structure is now expected to be
implemented at some point in the future, on a date to be named later.
