Tag Archives | Underwriting Guidelines

Seven Things Your Orange County Real Estate Agent Should Know About Your Mortgage Approval

By on July 1, 2010 in Mortgage

While many experienced  Orange County real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied. New regulations, updated disclosures, appraisal guidelines, mortgage rate pricing premiums, credit score, secondary approval layering, rescission deadlines, property [...]

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Do I Need To Sell My Home Before I Can Qualify For A New Mortgage On Another Property?

By on May 1, 2010 in Mortgage

Although every situation is unique, it is not uncommon for home buyers to qualify for a mortgage on a new home while still living in their primary residence. Perhaps you are outgrowing your current house, or have been forced to relocate due to a job transfer?   Regardless of the motivation for keeping one property [...]

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Ten Credit Do's and Don'ts To Bear In Mind Prior To Getting Your Mortgage Loan

By on April 1, 2010 in Mortgage

How can a fully approved loan get denied for funding after the borrower has signed loan docs? Simple, the underwriter pulls an updated credit report to verify that there hasn’t been any new activity since original approval was issued, and the new findings kill the loan. This generally won’t happen in a 30 day time-frame, [...]

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Understanding the FHA Mortgage Insurance Premium (MIP)

By on March 28, 2010 in Mortgage

* Disclaimer – all information in this article is accurate as of the date this article was written * Orange County home buyers have heard of the FHA loan program. But what about the MIP? The FHA Mortgage Insurance Premium is an important part of every FHA loan. There are actually two types of Mortgage [...]

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Making Sure Your Cash-To-Close Comes From The Proper Source

By on March 28, 2010 in Mortgage

Providing proper asset documentation and the actual source of the funds is a critical element of the loan closing process. There’s nothing worse in a real estate purchase than making it all the way through the hoops and hurdles just to have a loan denied after the final documents have been signed due to the [...]

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