It's important to note that Fannie is releasing DU (Desktop Underwriter) version 9.1 on August 16, 2014. Along with this release they are making a MAJOR change to the guidelines. Increased Wait Period From Short Sale to Purchase With the new change, they will be requiring 4 years seasoning for a short sale, regardless of the LTV (loan to value). … [Read more...]
Archives for June 2014
Difference Between Mortgage Broker, Direct Lender and a Bank
Getting a mortgage loan is never easy, and with all the options borrowers have at their disposal these days, it can be very hard to tell which of them is best for you in the long run. When comparing the different types of lenders available, you will find that three of them stand out in terms of the most beneficial offers available: mortgage … [Read more...]
How To Estimate Your Monthly House Payment
If you are planning on applying for a mortgage to purchase a new home but would like to estimate just about what the monthly payment would be for a certain amount, here are a few tips that will help you out. Know the difference between estimate and calculation While you can estimate an approximate monthly mortgage payment by using just a pen, … [Read more...]