Brett Sampson's (bsampson) Blog

By
Mortgage and Lending - Berkshire Lending, LLC
RECENT BLOG POSTS
    There are FHA changes beginning with all loans assigned after 9-14-20015.Some of them are biggies…For part time income: Two years of uninterrupted part-time income will be required. The borrower’s average over the two-year period will be used in calculations.Self employed declining income: Yo...
09/13/2015
I hope you had a good Labor Day weekend! Quick note: Starting October 1st, 2015 USDA loans will become a bit more expensive. The up front guarantee fee will increase on USDA loans from 2.00% to 2.75%. This is a one time up front fee that is added onto the end of USDA loans. That’s it for today! H...
09/07/2015
Here’s what you can expect if you are changing jobs while your getting a mortgage…The underwriter will want to see your first pay check at the new job at a minimum, and often they will want to see your first 30 days of paychecks.The underwriter isn’t trying to make your life difficult by asking f...
09/01/2015
Did you know we do loans for Rural Hobby Farm / Ranch loans?Here are some of the guidelines for this program…-Single-family, owner-occupied, detached primary residence located on the property.-Must be located in a rural area or municipality of 2,500 population or less.-Maximum loan-to-value of 97...
08/30/2015
I ran into this issue just 2 days ago – and I wanted to share with you how to roll repairs into a purchase price.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 simple answer i...
08/23/2015
If you are an eligible veteran the best loan you can get is a VA loan.Here’s what you need to know about a VA loan…VA purchase loans allow a qualified borrower to buy a house with no down payment. This is one of the very best loan programs in the mortgage market today. If you are a veteran you sh...
08/19/2015
I get questions like this from borrowers all the time…  “If I pay an extra $100 a month on my payment how many years would it take off my mortgage?”The answer is it can shave off alot of years and save you a ton of money!I created the table below to illustrate the savings.This is based on a 30 ye...
08/16/2015
Did you know I do Jumbo cash out loans?I do!Here are some details on my Jumbo cash out loan…* Primary Residence only* 70% up to $1,000,000* 65% up to $1,500,000* 60% up to $2,000,000* 50% up to $2,500,000* Min Fico 720* Max DTI 43%* Reserves as low as 6 months!If you want to get cash out of your ...
08/11/2015
 The most common question I get from borrowers is “How much will I have to put down to get a mortgage?”Here are your minimum down payment options on the loan products currently available in the market place.Loan Programs…VA loan: No down payment necessary. No monthly MI. This is the best loan goi...
08/09/2015
You may have been told by your loan officer that you have to remove the disputes from your credit before they can underwrite your loan.For Conventional loans there is really no way around this. You will have to remove them.However, for FHA loans you don’t necessarily have to remove them.This is t...
08/04/2015
Rainer
250,451

BrettSampson

Texas Lender
local_phone(888) 875-7675
smartphone(214) 228-2279
Contact The Author