Dually Licensed Lisa Jones
Dually LicensedForum Replies Created
-
This is a triple wide 2,500 square feet modular home with a wrap around porch.
-
Manufactured homes and modular homes are amazing and worth checking into. There are triple wide modular homes up to 3,000 square feet.
-
I think becoming a dually licensed realtor and loan officer is the new norm for rea estate agents
https://gustancho.com/starting-mortgage-net-branch/
gustancho.com
Starting Mortgage Net Branch For Producing Loan Officers
Mortgage Loan Officers can explore the idea on starting mortgage net branch and have the opportunity to open their own mortgage business
-
-
Highly recommend this to boost your credit score fast.
-
Mortgage rates need to drop significantly to save this Housing market.
-
There are more and more loan officers and real estate agents leaving the housing industry. More real estate agents are now Ubering and looking for second jobs and are thinking of calling it quits. Retail Loan officers are switching to being Mortgage brokers because rates are soaring and they need to be competitive.
-
I remember a client I referred to a loan officer had a tax lien and they could qualify for an FHA loan but not conventional loan. FHA loans allow federal tax liens if the borrower has a written payment agreement with the IRS and has made three timely payments. Fannie Mae allows payment agreements with the IRS but not if the borrower was seriously delinquent where it turned out to be a tax lien. Getting approved for a mortgage with a federal tax lien can be challenging, but it is possible under certain circumstances. Here are some key points to consider: Outstanding tax debt: Lenders typically want to see that any outstanding federal tax debt is being resolved through an approved payment plan or installment agreement with the IRS. Simply having an unpaid tax lien can make it difficult to qualify for a mortgage.
- Payment history: If you have an approved payment plan or installment agreement with the IRS, lenders will want to see a consistent and satisfactory payment history over a certain period, usually at least 12 months.
- Down payment and credit: You may need to compensate for the increased risk by making a larger down payment (often 20% or more) and having a strong credit score. Some lenders may also require additional cash reserves.
- Lien subordination: In some cases, the IRS may agree to subordinate (make secondary) the federal tax lien to the new mortgage. This means the lender’s interest would take priority over the IRS lien, making the lender more willing to approve the mortgage.
- Lender guidelines: Different lenders have varying policies and guidelines regarding tax liens. Some may be more flexible than others, especially if the lien is relatively small or you can demonstrate significant income and assets.
The best approach is to be proactive and work with the IRS to resolve the tax debt as soon as possible. You may need to provide documentation from the IRS confirming the payment plan, the remaining balance, and your payment history.
Additionally, consulting with a qualified mortgage lender or broker can help you understand your options and determine the best path forward. They may be able to advise you on lenders more willing to work with borrowers with tax liens or recommend steps to improve your chances of approval.
-
You are correct Ronda. Each transaction is negotiated and always has been different.