Maximum Mortgage Worksheets & renovation loans | Loan Depot

The maximum mortgage worksheet is typically used by internal mortgage professionals. It is used to determine the total renovation dollars and loan amounts. There are several factors that should be considered described in the video below. Factors include renovation hard costs bids, permitting, inspections, title updates, architectural designs, HUD Consultant fees, supplemental origination fees, contingency […]

Property Type Matters FHA 203k Homestyle and VA renovation loan specialists | Loan Depot

Does Property Type Matter? John Adams NMLS 442266 and Tu Mullins  NMLS 657663 discuss different property types and the financing available to repair almost any home regardless of condition with FHA Conventional and now even VA renovation lending products. Call us for information on renovation loan options. It’s financing with all the fixings. Here is a link to the handy checklist referenced in the video

Sourcing deposits – Get your assets to closing | Loan Depot

Seasoning and sourcing deposits are among the most common hangups when clearing underwriting conditions on documentation for assets, gift funds. What is sourcing and seasoning funds for closing? John Adams ( NMLS 442266 ) and Tu Mullins ( NMLS 657663 ) go over the most common questions that can help your borrowers navigate their assets […]

How is your income a liability | Loan Depot

Is your income a liability? John Adams and Tu Mullins discuss the importance of income and the documentation process of these items up front to help you navigate through FHA 203k, Homestyle and Va renvoation loans. These important first steps let you know how much home you can afford and make sure your documents are […]

USDA Announces Funding Fee Changes | Loan Depot

USDA mortgage loans are so popular (especially in Georgia Florida and Alabama) because they allow first time or subsequent home buyers to purchase a primary residence with no money down and with low monthly payments. The USDA National Office just announced on June 16, 2015 that effective with guaranteed loan obligations on or after October […]

Fannie Mae Ready Buyer and Homepath incentives | Loan Depot

We are making waves from Amelia Island in Fernandina Beach Florida today talking to you today about Homepath. Fannie mae has all of their foreclosure homes for sale online at . The no longer has the Homepath Financing but do have a new buyer incentive program for first time homebuyers to encourage them to […]