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IF YOU ARE LOOKING FOR A MORTGAGE SOON THEN READ THIS

Before you get a new mortgage read the following! Since Dodd Frank was passed in 2011 there are only 2 ways to get a mortgage: 1) Borrower Paid and 2) Lender Paid. Borrower Paid means the Borrower will pay the commissions (which are negotiable) to their Mortgage Broker. Ancillary fees CAN be added such as processing or application fees so beware. A lower rate can be obtained IF the Borrower thinks it best to pay these fees. Lender Paid means the Lender will pay the Mortage Broker and the commissions paid are built into the rate the Borrower gets.With Lender Paid, no ancillary fees...

February 14th, 2019 | OBTAINING A MORTGAGE SOON-READ THIS FIRST!, IF YOU ARE LOOKING FOR A MORTGAGE SOON THEN READ THIS

What is the Right Mortgage for Buying a Fixer-Upper?

You have found your dream house but it will take significant work to make it a home. You do not have cash in savings to pay for both a down payment and the repair costs. Not to worry - this is not a hopeless situation. Fortunately, there are two types of mortgage loans available for just this scenario:  The Federal Housing Administration (FHA) 203(k) rehabilitation loan or Fannie Mae HomeStyle Renovation Mortgage. FHA 203(k) Mortgage The Federal Housing administration has provided a home loan that allows buyers to borrow enough money to cover the price of the home plus the estimated...

February 13th, 2019 | FHA Loans, Purchasing a Home, What is the Right Mortgage for Buying a Fixer-Upper?

Diversified Mortgage Brokers

100 Copley Place, Suite D, Lynchburg, Virginia 24502
Toll Free: 800-388-3561 | Phone: 434-237-3143 | Fax: 434-239-4852
Email: dbi4009@aol.com | NMLS ID# 188675 (www.nmlsconsumeraccess.com)
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