Category Archives: Mortgages

Non-Borrower Household Income Flexibility

“HomeReady recognizes the growth of extended-income households by allowing the existence of non-borrower income to be considered a compensating factor in Desktop Underwriter® (DU®). HomeReady permits the borrower to have a higher debt-to-income (DTI) ratio – higher than 45%, up to 50% – considering available household income to provide additional assistance with household expenses if

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Breaking News: Trump Administration suspends reduction in FHA MIP rate

Unfortunately, the earlier news about the FHA rollback on the reduction of annual mortgage insurance premiums has been suspended indefinitely.  It now appears that HUD rescinded the FHA premium reduction on Friday as part of the Trump Administration’s plans to overturn a host of regulations/policies implemented by the Obama Administration.  FHA will issue a subsequent Mortgagee

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Minimizing documents for borrowers

At National Brokers, we understand that loan process can sometimes be stressful and take time to gather documents for loan approval review. Our lenders now offer e-signing documents that borrowers can sign while in line to get their lunch. In addition, we also minimize income documents from buyers. If you are W2 income borrowers and your

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