Brett Sampson's (bsampson) Blog

If you are like me you tend to get caught up in the details of life. …solving little problems day to day. …trying to meet deadlines. …attempting to make others happy and fulfill commitments. Nothing wrong with this. It’s a necessity of life. …but, it’s easy to lose perspective on what’s really i...

Occasionally I get asked by borrowers if there are any no money down loan programs left. The answer is “yes”. Currently there are two programs in the mortgage market place that will allow 100% financing. 1) One is a VA loan. You of course must have been in the military to be eligible to get this ...

What do you do if you are buying a house that needs minor repairs?  …but the seller refuses to do them? Believe it or not this situation happens a lot, especially on bank owned homes. The simple answer is to use an escrow hold back. …an escrow hold back is a small amount of money that is held out...

I get this question sometimes, and it’s a good one!… “If I’m self employed can I get a loan with less than 2 years of tax returns?” With FHA the answer to this question is… Yes, it’s possible. Here’s how… 1) You will need at least one filed tax return with a full 12 months of self employment inco...

If you are considering getting a part time job to give you extra income for mortgage qualification purposes – consider this… FHA will want to see that you have a two year stream of this part time income before they will give you credit for it. …So, in other words if a loan officer tells you that ...

Have you been out of work, and now you are working again? …and, you would like to buy a house? I wanted to go over the FHA guidelines with you on a borrower returning to work in case you or someone you know is in this situation… There are just a few main guidelines that FHA likes to see for the b...

Medical Collections aren’t good for your credit scores, but they won’t necessarily keep you from getting a mortgage either! I have customers call me every day – worried that their Medical Collections will keep them from getting a loan. From a mortgage underwriting perspective – if you have Medica...

I’ve written about this before, but I wanted to touch on it again here because it’s important… My job as a loan officer allows me to have a unique perspective into people’s lives. I can see how much money people make, and how much money they have in the bank. I do loans for people who make less t...

Many don’t know this, but it’s possible to use a conventional loan to purchase rural property on acreage. The key: You have to use a lender that has the program, and knows how to use it! Here are some highlights for this conventional rural loan program… 1) Only 3% down payment. 2) Up to 417k loan...