FHA-        If the loan is a purchase or a rate and term refinance, the client cannot have more than 2 X 30 lates in the past 12 months from the application date.  Fannie & Freddie-        The client cannot have any 60 day lates in the last 12 months

How Much Home Can You Afford VS How Much Home Should You Buy?A lot of people ask us “how much can we qualify for” or “how much should we qualify for?” when it comes to applying for a mortgage. In other words: What prices of home should I be looking...

What’s the BIG Deal About Escrow Accounts?Why do banks encourage borrowers to have an Escrow Account? What is the purposeBanks want to make sure they know that a borrower’s taxes and homeowners insurance is being paid on time…why?Unpaid taxes will...