How do I know millennials are serious about becoming homeowners? This spring, I did a home loan for a 19-year-old and his wife, who is also 19. Sound crazy? Hardly. Over the past year, I have noticed a sharp increase in the number of young adults who want to buy their first homes. As a Read more about A home loan for a 19-year-old? Believe it[…]
VHDA has changed the calculation of “Household Income” to determine eligibility for VHDA mortgage loans and Mortgage Credit Certificates. From the VHDA: “Maximum Household Income will be based upon the income of all borrowers and all non-borrowers taking title to the property. The income of other household members who will not be on the loan Read more about VHDA Information about Household Income for First-Time Hombuyers[…]
This past week I took a short course from the Virginia Housing Development Authority (VHDA) about a mortgage credit certificate (MCC). The MCC is a tax credit subtracted from the amount of federal income tax you owe. With the MCC, your clients could save thousands of dollars every year on their taxes. VHDA loans are designed for Read more about VHDA’s Mortgage Credit Certificate[…]
I read an interesting article this week from USA Today about how many homeowners don’t have enough home insurance in the event of a disaster like a flood or fire. By now, you may have seen the stories about the heavy floods in Texas (here’s a photo gallery). Many people lost their homes, and I Read more about Hazard Insurance is critical for homebuyers and homeowners[…]
It can sometimes feel like realtors and lenders speak different languages. Real estate agents need to know the ins and outs of buying and selling a home while the lender handles the mortgage. Sometimes, though, it’s important for realtors to understand the finer points of the lending side. As a lender who specializes in home Read more about 4 Mortgage Questions Every “Well-Rounded” Realtor Needs to Ask[…]