By

Leslie Vanderwerf

Do underwriting guidelines vary between banks?

The easy answer is yes.  There are underwriting guidelines based on the specific program (FHA, VA, conventional, USDA) that every lender has to follow.  Each program has underwriting manuals that...
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What if my home doesn’t appraise high enough?

Over the last few years, we have seen home prices drop and appraisals have been frustrating - especially for those trying to refinance.  Now we are looking at home prices rising...
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Why do you need my bank statements?

Sometimes what seems really easy, isn't!  One of the requirements in underwriting your mortgage approval is the verification of assets.  Simple, right? Not always. We need to verify where your...
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Mortgage rates

Since the beginning of 2013, mortgage interest rates have been slowly moving upward.  Not a lot and not everyday, but the trend is definitely upward.  No one expected rates would...
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Buying a home? Here are some tips to help with your mortgage

So you have decided that this is the year to buy a new home – wonderful!!  There are a few things that will make this a little easier! First decide...
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FHA changes coming soon, HUD press release issued

HUD issued a press release this week outlining the changes we knew were coming, but were hoping wouldn't be here until later this year!  The changes won't be effective until...
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Is it time to refinance or should I wait?

Some of my clients are wondering if they should refinance or wait.  The main reason is their home value.  This is a big question when it comes to refinances.  If...
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What’s a qualified mortgage?

This week the Consumer Financial Protection Bureau released their new guidelines that all lenders will have to follow.  The "ability to repay" and "qualified mortgage" rules will go into effect...
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The HomesMSP Team is committed to meeting you where you are and listening… really listening to understand you so we can use our extensive knowledge of the market and local neighborhoods to give you personalized service.