Brian's Blog
How Much Can I Really Get?Thursday, May 17th, 2012
People seem to get confused by maximum loan amount allowances, down payment requirements, and the interest rates surrounding them. I thought it would be helpful to have a breakdown. I am going to show loan limits for owner occupied loans, for Conventional, FHA and VA loans: (more…)
Let's Cut Out The Realtor And Save 3%!Tuesday, May 15th, 2012
I sometimes hear how a buyer thinks they can save 3% by cutting out the buyer agent when buying a home, then representing themselves, and end up saving 3% by dealing directly with the listing agent. And I think I will do my own surgery, represent myself in court and put a new roof on my house on my own. Sure you will represent yourself in a real estate transaction, why not? It is easy and it takes almost no time at all. I hope you see the sarcasm in those last statements. There are many things wrong with thinking you can represent yourself when buying a home. (more…)
Do You Flip, Or Get Flipped?Friday, May 11th, 2012
I wrote a blog here in the summer of 2010 that talked about getting an FHA loan on a property that has been flipped. A flipped property is one that an investor buys and fixes up with the purpose of immediate resale. The Federal Housing Administration (FHA) has had a 90 day flip rule in place for quite a while to prevent the purchase and quick resale of a home within 90 days. They have doubts about the value added by investors over such a short period of time, (more…)
Back In The Old DaysTuesday, May 8th, 2012
I always hear how people miss the good old days. I am not sure I do. I prefer progress. But lately, the mortgage industry has been regressing, and I would say that we have not been making progress; we have actually been going backwards. It seems the mortgage process has swung from too easy, to too strict, and now to downright ludicrous. There is nothing that Fannie Mae wants undocumented that is related to a mortgage borrower's finances, and I mean that literally. So I understand when someone says to me the following, (more…)
I Am In A Database? Really?Friday, May 4th, 2012
Yes, we are all in databases, likely hundreds of them. Every single time we call an organization, buy something or ask a vendor a question, we go in a database. Companies and salespeople do not set up costly structures, go through licensing and training, and spend money on products and services, in the hopes that you will call, and call again, and remember to call in the future. Quite frankly, humans do not remember, we forget. We cannot remember all our favorite service providers and products. We need to be reminded. This is why Facebook exists, it is a convenient database of our friends, and reminds us of birthdays, to check in with friends far and wide, it automatically shows us news on friends lives, and forces us to stay in touch with more people than we ever could without it. Sales is no different. Salespeople organize clients and potential clients in a database. Why does this matter to you? (more…)