Brett Sampson's (bsampson) Blog

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Mortgage and Lending - Berkshire Lending, LLC
RECENT BLOG POSTS
I hope you had a safe New Years! I think we’ll all have a great year this year. Mortgage News… One of the programs we were looking forward to this year was FHA’s HAWK program. Now it looks like HAWK isn’t going to happen – at least for another year. This is due to congressional budget restrictio...
01/04/2015
I can’t believe 2014 is over! Have a safe New Years Eve. …and, I hope you have a happy and prosperous 2015! Top Tip for 2015: Remember, highly effective people think on paper. Write down everything… Your goals. …Your dreams. …How to solve problems. Before you tackle any project write down the st...
12/30/2014
I hope you had a great Christmas! Update on Short Sales: On December 16, the Senate passed an extension of the Mortgage Debt Forgiveness Act by a vote of 76-16. The extension applies to any short sale conducted in 2014. If Congress had failed to act on the renewal of the tax breaks, any forgiven...
12/28/2014
One quick note on FHA gifting, and a short video on Giving that you have to watch… Acceptable gift donors for FHA loans… 1) Borrower’s relative. 2) Borrower’s employer or labor union. 3) A close friend with a clearly defined and documented interest in the borrower. 4) A charitable organization. ...
12/22/2014
Fannie Mae used to have a 97% loan product. Then they got rid of it. Now they have brought it back. Effective December 13, 2014 Fannie Mae re-introduced the 97% loan product. This is a lown down payment alternative to FHA. Just wanted ya to know… That’s it for today! Have a good day today! …and ...
12/14/2014
I’ve touched on this before, but I think it’s worth repeating… Before you go out house hunting make sure you have enough money available to get your house closed.  …I know it sounds simple, but many people don’t realize the amount of funds they will need available to get into a house. Here is a ...
12/09/2014
As mortgage rates have been dropping, home values have been climbing. Many homeowners now find themselves with a little bit of equity. This creates an opportunity to refinance out of low down FHA loans. By refinancing out of an FHA loan you can many times either eliminate the FHA MI, or at least...
12/07/2014
This is a good time of the year to refinance because your taxes are getting paid about now.   …We don’t have to pre-fund your escrow account with a lot of taxes. I wanted to take a minute and tell you exactly how a no cost refinance works. There are two pools of funds you have to address when yo...
12/02/2014
- Did you know we can accept debt to income ratios over 55% on a VA loan? …Many companies will stop at 45% or 50%. …Just something to keep in mind. - Did you know we can do USDA loans down to 560 scores? …Yep! Hope you had a good Thanksgiving holiday! That’s it for today!    …thanks for reading!...
11/30/2014
People get turned down for loans every day because their debt to income ratio is too high. Some mortgage companies max out their debt to income ratio at 45%. …Some go to 50%. I wanted you to know that I have NO LIMIT on a back end debt to income ratio. …I can do 55% or even 60% or more as long a...
11/23/2014
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