Brett Sampson's (bsampson) Blog

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Mortgage and Lending - Berkshire Lending, LLC

ARCHIVED BLOG POSTS

2016 

I had a question about Short Sales recently.FHA is most friendly to Short Sales.There are basically two kinds of Short Sales…1) If more is owed on the home than the home is worth, and it’s impossible to sell the property without the seller bringing money to the table then the mortgage holder can ...
05/17/2016
Occasionally I get asked if a Deed In Lieu of Foreclosure will be treated the same as a foreclosure by a mortgage company.From a mortgage underwriting perspective it’s simular.A Deed In Lieu is where you beat the mortgage company to the punch… …and give the mortgage company back the house before ...
05/15/2016
Generally when you buy a house you will have two sets of funds you will have to pay at closing.Your down payment.Your closing costs, and prepaid taxes and insurance.Unless your getting a gift or grant you will have to pay your own down payment.However, you don’t necessarily have to be the one to ...
05/10/2016
You don’t have to make a lot of money to buy a house!In the mortgage industry we are concerned with your debt to income ratio. …So, if you don’t have alot of monthly debt you can buy a house without making alot of money.Example: I recently closed a loan for a person that made $10.25 an hour – and...
05/08/2016
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If you’re rate shopping for a mortgage – here are some guidelines for you to keep in mind…1) Get a Loan Estimate (LE). There’s always a relationship between fees / points / and rate. …You won’t know what that relationship is unless you look at a LE. (A low rate is great, but if you are paying poi...
05/03/2016
Do you know the best way to get sellers to help pay your closing costs, prepaid taxes, insurance and reserves when you buy a home?…You ask them!You make it part of your offer to purchase.Depending on the circumstances they may or may not say “yes” to your request, but you should at least know the...
05/01/2016
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Brett Sampson

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