Brett Sampson's (bsampson) Blog

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Mortgage and Lending - Berkshire Lending, LLC
RECENT BLOG POSTS
If you have ever shopped for a high loan to value Jumbo loan then you know it’s hard to find anything over 80% LTV.I wanted to tell you that I have Jumbo loans up to 90% LTV with loan amounts up to $1,500,000!…and, there’s no mortgage insurance on this 90% Jumbo loan!Just something to be aware of...
06/16/2015
I wanted to remind you that we have the option of using W-2′s and Pay-stubs ONLY as a method of proving income.We don’t need tax returns or transcripts.Sometimes this can come in handy if there is something on your tax returns that would prevent you from getting a mortgage.That’s it for today!Hav...
06/14/2015
 Are you planning on using your bonus income or overtime income to help you get a mortgage?…If so, then there are three important things you need to be aware of:1) We can’t use bonus income or overtime income unless you can prove you have been receiving this income for 2 years.2) The employer has...
06/09/2015
Recently I wrote about our aggressive guidelines for FHA loans. Guidelines that allows us to make mortgage loans to borrowers that are told “no” by other mortgage companies.FHA isn’t the only thing we are aggressive about.We also have aggressive VA guidelines…- VA down to 550 fico score- VA Manua...
06/07/2015
I write about this topic at least once a year, but it’s a good thing to revisit it from time to time…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 le...
05/31/2015
I’ve written about this before, but I think it’s worth repeating:If you are trying to purchase a house using part time job income the underwriter will want to see that you have a two year stream of this part time income before they will give you credit for it.Incidentally it works the same with b...
05/25/2015
Believe it or not it’s still very hard to get a Conventional loan approved with a debt to income ratio higher than 45%.I wanted to give you one little trick you can use to help out with your debt to income ratio.…Use lender paid mortgage insurance – have your mortgage lender pay your mortgage ins...
05/19/2015
I had this situation come up again last week…Advice: If you enter into a lease option agreement don’t give cash for the option money.The reason is when you try to buy the house down the road you will have to prove you gave the option money to get credit for it. …it’s hard to prove cash.You can do...
05/12/2015
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.Here is a breakdown of the maximum seller help amounts by loan program…Program: Conventional (fannie/freddie),...
05/10/2015
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 available balance, and its even better if you can keep it under 30% of the ...
05/06/2015
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