Real Estate Blog

Everything You Need to Know About Purchasing Rental Property

Whether it is a vacation rental or long term rental, buying rental property could be a big step towards financial freedom.  According to the National Association of Realtors, buying a rental or investment property actually accounts for approximately 20% of purchase transactions lately.  A benefit for investors that are able to buy rentals is that there is a huge need for quality rental properties.

The amount of renters is continuing to grow.

A major reason for the large number of renters is because the prices or values of properties are rental propertyincreasing above a comfort level for first time buyers.  The millennial generation has proven to be a little slower on moving from tenants to

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Equifax Hack and How to Protect Your Credit Plus Identity

The recent Equifax hack has made 143 million people’s confidential information vulnerable.  So you may as well assume you have been hacked.  This is basically identity theft on steroids!  Credit is a double edged sword.  These days, everyone is a number and you need to have a good one.  Having credit increases hacking risks, but with knowledge there are precautions that can be used for protection.

How to Protect Your Credit & Confidential Information

Again, we are assuming that if you have credit, then your social security number and identity are at risk.  So it is important to be vigilant in the fight for your credit as well as your assets!  Follow these tips and most

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FHA Flipping Rules for Buyers and Investors

FHA Flipping Rules Explained

There are two main categories of real estate investors.  The first is a long term hold strategy.  Secondly, there is flip which is a short term sell for profit strategy.  A property flip is when investors purchase a home, renovate it, and then sell it for a profit.  Both investments are wealth building strategies using real estate as the catalyst.  But when it comes to mortgages, lenders have restrictions and rules for property flips.  These rules can potentially restrict a seller’s ability to sell quickly.  These restrictions are called FHA flipping rules.

So, property flips sound like a great thing and you would be correct.  But, the purpose of this article is to

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Mortgage Denied Because of Employment History? We Have Solutions

Capacity, credit, collateral, and capital are considered the 4 C’s of mortgage lending.  Basically, these are the main areas lenders review to qualify a borrower.  But these 4 categories are broken down into many subsets.  This article is going to discuss the capacity to pay back the loan and more specifically discuss the role of employment history.  While reviewing capacity, lenders will review a borrower’s income, employment history, assets, and debts to determine qualification.  Employment history plays an important role when it comes to areas such as:

  • Commission Income
  • Overtime Income
  • Bonus Income
  • New Job
  • Second Job
  • Pastoral Income
  • Self Employed Income
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VA Loan Includes Condo Approval, Raised Credit Score, High Debt Ratio, Paying Off Debts

Individually, these areas mentioned in the title are great advantages of VA home loans.  But what if all of them happened on the same purchase?  Well, they did and we closed it!  So, we bring understanding VA home loans to another level.  Check out some of the things we were able to accomplish for a Veteran’s purchase.

VA Home Loans Success Story!

Going the extra mile to help a Veteran is something we do all the time.  Yet we don’t take an aimless approach to this.  Rather, we work hard to stay on top of the intricacies within guidelines to help Veterans get into a home.  Recently we were tested with a scenario that had several layers of challenges on a

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VA Jumbo Loan Down Payment Solution You Probably Did Not Know

VA loans may actually be the best home loan in the USA!  Heck, even the world possibly!  Although most VA loans are used for a no down payment purchase, it is also a very beneficial solution to buy a higher priced home.  Each county in the U.S. has a VA loan limit.  The good news is that VA will still offer this great loan while exceeding these county limits.  This is called a VA jumbo loan.  On these loans, a VA jumbo loan down payment is required and must be calculated.  So let’s discuss the benefits of a VA jumbo loan and a little known trick for obtaining the down payment.

VA Jumbo Loan Down Payment Optionva jumbo loan down payment

A VA jumbo loan is tough to beat for qualifying buyers in the luxury

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The Best Loan in America – VA Loans and VA Loan Down Payment Solutions

VA home loans are best known for providing Veterans and service members with a no down payment purchase option.  Although, sometimes VA loans require a down payment.  For instance, there could be a VA loan down payment required if a buyer would have two VA loans at once.  Have two VA loans at once?  Absolutely!  It is very possible to use a 2nd VA loan with no money down while keeping another VA loan.  But as the purchase pricelevel increases, a down payment could be required.  Having two VA loans at once is called accessing a Veteran’s “bonus entitlement”, which is also called 2nd Tier Entitlement.  So in this article, we will not only discuss how to obtain a 2nd VA loan

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Will Credit Inquiries Hurt My Credit Score or Mortgage Approval?

So has the lending world scared you into believing your credit score is your whole meaning in life?  Obviously it isn’t, but it does play a very important role in key areas of life.  Some you may surprise you.  Credit scores could determine insurance rates, employment, opening a bank account, and of course, borrowing money.  Scores are especially important in mortgage lending.  There are several factors which make up a credit score.  One of these factors are credit inquiries.

A credit inquiry means a company or person is “pulling” your credit report.  Although there are more credit inquiries affect on credit scoresimportant factors, credit inquiries generally contribute to 10% of the overall score.  Therefore, credit

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First Time Home Buyer Admits “If I Had Only Done This”

Thinking about buying a first home and trying to figure out what to do can be an overwhelming thought.  There are a lot of things to consider such as price, payment, amenities, down payment, and qualification.  Plus spending and probably borrowing tens to hundreds of thousands of dollars is a huge step.  So foremost, a first time home buyer must be an informed and educated buyer.  In this article we want to provide the first time buyer how to avoid the worst mistake.  Also, throughout the article there are links to other helpful articles for first time buyers on this site.

Do Not Make This Mistake as a First Time Home Buyer!first time home buyer mistakes to avoid

There are a lot of firsts for a first time home buyer.  So,

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Why a First Time Home Buyer Should Avoid an Online Mortgage Lender Process

Are you currently living with family, staying with friends, or renting an apartment or home?  Are you like many that want to achieve the dream of homeownership for the first time?  This is a huge step and it should not be taken lightly.  Even though Millennials and others may prefer to text or message everything today, don’t do an exclusive online mortgage!  So why not an online lender and do the whole process electronically?  Because a first time home buyer loan process should start off with thorough conversations and ask detailed questions with an experienced loan officer.

These up-front, detailed conversations about goals, qualification, and products are key.  Just

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