Tag Archive for: gift funds

How To Use Gift Funds with Fannie Mae Loans

In this blog post, we will demystify the concept of gift funds, explain how they work, and guide you through their utilization with FNMA (Fannie Mae) loans. By the end of this article, you’ll better understand how to navigate using gift funds toward your purchase.Read More

Wedding Cash Gifts For Down Payments!

This is a short blog, but it is a great reminder for every agent working with or catering to newlyweds! Cash received for a wedding gift can be used towards […]Read More

17 Ways to Lower Debt Ratios and/or Garner More Funds

I blogged recently about 8 Ways to Lower Debt Ratios When Rates Are Climbing – and I got numerous additional suggestions from a friend who owns a mortgage bank (Apex […]Read More

8 Ways to Lower Debt Ratios When Rates Are High

With rates rising so quickly, “debt ratios” are becoming a major issue for many borrowers. Hence, I am repeating this past blog where I set out various ways to lower […]Read More

How to Get a Low Down Payment: A Guide for Borrowers

For many homebuyers, the down payment is the most significant obstacle on the road to homeownership. This is why so many homebuyers are looking for mortgage loans with low down payment options when purchasing a home.Read More

The New Millennial Housing Market in Texas

Millennial buyers (those born 1981-1997) have quickly entered the housing market and they are rapidly becoming the largest and fastest-growing demographic. A 2020 Realtor.com forecast gave the estimation that 51% of the housing market will be comprised of millennials, outnumbering both Generation X and Baby Boomers combined. This will be especially prevalent in Texas markets where millennials make up on average, 25% of the population.Read More

Legal Sources of Funds; FHA Purchase to $800,000

I received the following questions from a very seasoned real estate agent the other week: “I have a 3.5% down offer for $795,000 on my desk – A. Does FHA […]Read More

Don’t Deposit Gift Funds, Please! (Straight to Escrow)

It is well-known that buyers can use “gift funds” from a relative to help with the purchase of a home. But, we want to again remind buyers to not deposit […]Read More

8 Ways To Lower Debt Ratios & Qualify for More

I repeat this topic from time to time b/c “Debt Ratios” weigh so heavily in our pre-approval process and b/c tight debt ratios so often prevent borrowers from buying the property […]Read More

The New Millennial Housing Market

Millennial buyers made up 34% of the housing market in 2017. Millennial buyers were the largest group that year in the housing market, with 66% of them being first-time buyers. That means nearly half of all millennial buyers are already in the housing game and have bought and sold more than one property.Read More

Post-Close HELOC to Reclaim Liquidity; 90% CLTV

We often encourage buyers to put down 20% or more not just to avoid mortgage insurance, but also to make their offers much stronger and to allow us to close […]Read More

Cash to Close – Part 27; Beating The Dead Horse Again

We hit this often but it is the cause of so much confusion and delay that we are addressing it again. Lenders need to carefully estimate how much cash will […]Read More

Rules For Gift Funds

We have a few borrowers right now navigating the best way to receive gift funds, so we wanted to provide a few reminders. Gift Funds – a Few Rules of […]Read More

Converting “Cash” to Down Payment Funds – Gifts

We frequently have borrowers with substantial sums of cash that they want to use for a down payment. They cannot simply deposit the funds in escrow or into their bank […]Read More