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HomeReady Mortgage To 97% LTV

Do you need a flexible product mortgage loan? If so here is Fannie Mae's which is labeled as Fannie Mae Home Ready Mortgage.

Some years ago, Fannie Mae closed the Flex 97%  product. However, they still have an option for 97% financing under the HomeReady Mortgage Product.

As you probably know, Fannie Mae and Freddie Mac do not make mortgage loans, however they do purchase loans after an approved lender, broker, or bank has closed the loans. The loans must be underwritten to their guidelines for the type mortgage product that is being submitted.

Paying Off Your Mortgage Early


We know that any time we are paying down a loan, we are in all accounts saving our money.and gaining equity. When you pay down the principal, you are paying the amount of interest you would be paying over the life of the loan.  The question often exist; should I pay off my monthly mortgage early. 

Mortgage Income Calculations

Mortgage income calculations are not hard they are just unique. They are as unique as the applicant's line of work, and method of compensation.
After reading various mortgage articles with questions and answers about the loan process and how income is calculated; it seems only appropriate to generate an article simple to understand. Having been a mortgage underwriter I am laying out these calculations so you may how an underwriter evaluates your income. This article will be of value for any person applying for a mortgage loan.

Mortgage - What Really Happen To Housing Values



I am not trying to rehash the past or give out details that annoy some people, however borrowers, applicants and anyone seeking to know more about mortgage values, and home loans deserves to know how the mortgage industry "had to fail." Regulations caused the downfall of mortgage lending. It caused a flux of home loans to be made that were are eligible to be made in actuality. Congress made the decision that "every body deserved a home." True, however, not everyone can afford to have a home loan. Just facts. 

Mortgage Advice - Do You Need It?





If you are looking into getting a mortgage loan and have questions, please feel free to ask them here. I am willing to help you find a solution for something that is out of ordinary.

If I do not know that answer, I will find it.

My experience:

I worked in Mortgage Lending for years. I am a mortgage underwriter at heart and have the knowledge that makes a loan eligible for approval. If you read this blog, it will help you understand the process.

This is an older blog, however the basics do not change much. Check Here. New products some along and underwriting changes but the initial process is standard as to what you need to know.

I am in the process of updating information for this blog and hope you find what you need here, and if not, let me know.

Thank you,

Linda Todd

Mortgage Self-Employment Analysis

Self-employment income normally needs a two-year history of receipt to be regarded as stable and ongoing income. Less than two years is "sometimes" accepted.

In mortgage lending, an individual is considered self-employed if he/she owns more than 25% of a business.