Brett Sampson's (bsampson) Blog

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Mortgage and Lending - Berkshire Lending, LLC
RECENT BLOG POSTS
Here’s a tip for those of you with deferred student loans trying to get an FHA loan…If your student loans are deferred, and there’s no payment listed on your credit report it’s a good idea to contact your loan servicer and find out what your payments would be if you started making payments today....
04/05/2016
Did you know Fannie Mae has a program that will allow you to purchase or refinance a property, and renovate it at the same time? …all with one loan?They do! It’s called the Fannie Mae HomeStyle Renovation program.How it works…At closing all funds for renovation will be escrowed in an interest ear...
03/29/2016
I write a lot of Special Reports to educate borrowers and potential borrowers about their mortgage options.It’s important to know the loan programs you can use to purchase homes.    …This way you can determine which program best meets your needs.Here is a report I wrote a couple of years ago abou...
03/27/2016
I wanted to quickly go over the rules for gift giving on Conventional loans.First – Gifts to cover down payment and closing costs are allowed! (only on owner occupied homes)However, a gift cannot be given by just anyone.The following are allowable gift givers for Conventional loans…• Relative, de...
03/22/2016
Here is one quick credit tip for getting your credit scores higher…Did you realize that 30% of your score is made up of the ratio between your available credit vs your actual balances on revolving credit accounts (like credit cards)?You don’t want to charge these accounts over 50% of the availabl...
03/20/2016
If you are considering paying off or paying down an account in an attempt to improve your credit scores – you should really consider using our “what if” program.It can save you time and money – and give you a valuable insight on the impact of paying off or paying down accounts on your credit scor...
03/15/2016
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Here’s a USDA tip for you…First, you should know that USDA family income caps. …In other words if you make too much money you won’t qualify for a USDA loan. Here is the link to check the income for your area…http://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do  Important: US...
03/13/2016
I’ve written about this topic before, but I was asked about it again yesterday, so I thought I would touch on it again here. If you are buying a house that needs minor repairs – but the seller refuses to do them – what do you do?This situation happens a lot, especially on bank owned homes.The sim...
02/29/2016
I wanted you to remind you of what a great program Fannie Mae’s HomePath is. This is a program Fannie Mae has created for Fannie Mae owned property.It allows a low down payment and flexible mortgage terms.Here are some of the great features of this loan…1) Only 3% down payment. …and, this down pa...
02/23/2016
A while back I posted problem / solution point about how you should make your mortgage company has more than one underwriting option.Here was the original post: http://berkshirelending.com/2015/12/02/make-sure-your-mortgage-company-has-this/At that time I had a borrower contact me that had seen t...
02/21/2016
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