Simplified Income Calculations – MortgageDepot
Did you know that we DO NOT require these income sources to be averaged over 24 months? This can make a significant difference in your mortgage application process.Flexible Income Sources We recognize that many of our clients have diverse income streams. Here are some examples of additional income sources that we consider: Commissions: If you […]
How long would it take for Trump to end Fannie and Freddie’s conservatorship?
Could Fannie and Freddie survive on their own? It remains uncertain just how long it could take for that process to begin. Among the main stumbling blocks: doubts over whether Fannie and Freddie are able to stand on their own feet without government support. The FHFA says conservatorship aims to “preserve and conserve their assets […]
Understanding Gift Fund Guidelines For Purchasing A Home
Did you know that there are specific guidelines regarding gift funds from live-in family members? It’s true! When an individual who qualifies as an acceptable donor gives a borrower a gift but has been living with them for the past 12 months, it is not considered a gift under certain guidelines. This rule applies to […]
Fed ends the year with another rate cut
Traders expected a quarter-point cut to end the year before a possible pivot by the Fed to a more cautious approach in 2025 – one that could see as few as one or two rate reductions in the 12 months ahead. With the US economy adding 227,000 jobs in November and inflation inching upwards to […]
Get PreQualified Fast Before Making An Offer
In today’s fast-paced financial environment, every loan opportunity is critical. We value the importance of quick turnarounds for pre-qualifications, and we are committed to providing a service that goes beyond the ordinary. Our pre-underwriting process is designed to offer more than just a simple pre-qualification; it’s about delivering confidence and reliability to both you and […]
RTO firms see higher turnover, lower hiring rates — study
The average turnover rate for RTO firms spiked by 14% after the mandates were announced, with employers likely to lose highly skilled staff. “We further find that female employees, more senior employees, and employees with higher skill levels are more likely to leave RTO firms, consistent with RTO firms losing highly valuable employees,” the study […]
Close In LLC Name With Our DSCR Loans
For investors looking to maximize their opportunities, we offer specialized financing options, including Debt Service Coverage Ratio (DSCR) loans, tailored for those with vested interests in Limited Liability Companies (LLCs) or Corporations. What are DSCR Loans? DSCR loans are a unique type of financing designed for real estate investors. Unlike traditional loans that rely heavily […]
December Fed rate cut: Here’s what to expect
“The Federal Reserve Open Market Committee (FOMC) is widely expected to cut its benchmark short-term rate by 25 basis points,” said Sam Williamson, senior economist at First American. “Markets are pricing in a 99% chance of this cut, but slowing the pace of rate cuts is appropriate given the recent outperformance of the US economy […]
MortgageDepot Closes Loan For Manhattan Commercial Co-Op Dental Office
Securing financing for commercial properties in Manhattan can be a complicated process, particularly when the property is a commercial co-op, and the borrower is self-employed. Yury Gohkberg, a Mortgage Loan Originator, worked closely with the client, lender, and co-op board to overcome these challenges and ensure the deal closed smoothly and on time. The property, […]
Bilt Card to Offer Point Earning on Mortgage Payments
Well, it sounds like the new Mesa Homeowners Card got the attention of one of its competitors. Bilt is best known for its credit card that allows its members to earn points on rent, but soon homeowners will be able to earn points on mortgage payments too. We heard rumblings of this possibility a while […]