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Why Lenders Require Flood Insurance
The hazard insurance section of standard homeowners insurance policies does not cover flooding from external natural causes, like heavy rainstorms, or man-made ones, like a dam break. Only specifically named flood insurance, a separate insurance policy, can protect again...Read more -
Flexibility for DSCR – Mixed used property
Keywords: FHA; Lown-Income; Conventional; Mortgage Loans. A mixed-use property as defined is a one-to-four (1-4) unit residential property with a home-based business. The following requirements must be met: 1. The business cannot inte...Read more -
FHA vs. Conventional Loans
Keywords: FHA; Lown-Income; Conventional; Mortgage Loans. FHA vs Conventional Loan Types: Which is Right for Me? An FHA loan allows for lower credit scores and can be e...Read more -
DSCR–Foreign Nationals
Keywords: DSCR, Non-QM, Mortgage, Rent, Investment We all know DSCR, which is a very simple program and just need to put the occupancy into consideration. DSCR is preferred by a lot of agents, so let’s talk about DSCR for foreigners. ...Read more -
DSCR Program
Keywords: DSCR, Non-QM, Mortgage, Rent, Investment DSCR (Debt Service Coverage Ratio) is designed for experienced real estate investors and qualifies borrowers based on cash-flows solely from the subject property. How to calculate DSC...Read more -
Does Bank statement allow both business & personal bank statements?
Keywords: Escrow account; Impound; Tax & Insurance; Reserve The bank statement is a product that estimates a borrower’s income by analyzing deposits in the account. It use DTI to qualify like conventional loan. This category of produc...Read more -
Do you know what is impound in house mortgage
Keywords: Escrow account; Impound; Tax & Insurance; Reserve Do you know anything about Condo Project Review (or HOA Questionnaire)? Escrow impound accounts are those accounts which lenders set up to collect 'up...Read more -
Social Security income calculation
Key Words: Social Security income; non-taxable income; tax exempt income; Freddie mac Do you know anything about Condo Project Review (or HOA Questionnaire)? When TAX EXEMPT INCOME is needed for qualification, ...Read more -
Condo project review
Keywords: Condo project review; Full review; Limited Review; HOA Questionnaire Do you know anything about Condo Project Review (or HOA Questionnaire)? When you want to buy a new house which the type is a condo ...Read more -
Can I refinance if I’m in forbearance?
Keyword: Forbearance; Refinance; Credit score What is forbearance? Forbearance is when your mortgage servicer or lender allows you to temporarily pay your mortgage at a lower payment or pause paying your mortga...Read more -
What is delayed financing?
Keywords：Delayed financing In a delayed financing transaction, you can take cash out on a property immediately in order to cover the purchase price and closing costs for a property you had previously bought with cash.. This allows you to have the advantage of being a ca...Read more