Mortgage

Mortgage Myth Busting…Part 2

May 23, 2014

The Myth: A part-time employee has to be on the job for 2 years before they can use that income for qualifying for a mortgage. Origin of the myth:I believe that this myth comes from the Fannie Mae and Freddie Mac guidance on income from secondary employment. In the Fannie Mae handbook it says, “The […]

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Rural Housing Guidelines Changing for Cache Valley, Utah

August 24, 2012

Starting October 1st 2012, Rural Housing will be charging a little bit more for their upfront funding fee and annual mortgage insurance.  On refinance transactions the upfront fee will be going from 1.5% to 2% and the annual mortgage insurance is going up from .3% to .4%. On a loan amount of $100,000, that is a monthly […]

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