USDA announced significant changes effective for Conditional Commitment requests beginning 12/15/2018. Therefore, loan packages submitted beginning 12/15/2018 must meet these new requirements. We have called out the most significant and major changes here; however, the attached documents will provide the full update of changes.   Income Adjustments & Calculations Job gap: Borrower must now be back to work 12 full months. The income ending is the determining factor in the job gap. 2. All income calculations are
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Buying or Selling a Home in Shiawassee County? What to Know about Mandatory Point of Sale Well & Septic Requirements. If you are buying or selling a home anywhere in Shiawassee County, Michigan which includes Owosso, Corunna, Durand, Mt.  Morris, Laingsburg, Perry, Byron, New Lothrop, and Bancroft, then the seller is required to have a Shiawassee County Point of Sale Inspection completed before they are allowed to finalize the sale of the home.  What does
Inspections
Icon Mortgage is veteran owned
The Matt Keway team at Icon Mortgage is pleased to offer no money down VA home loan solutions to qualifying active duty servicemen and women, U.S. military veterans, and surviving spouses. VA mortgages can be used to purchase real estate with no money out of pocket and as a refinancing solution with low closing costs and the potential to cash out some of the equity in one’s home. VA loans are guaranteed by the US
Mortgage Advice
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Your Credit score is important when getting a loan from a lender to buy a house
Credit scoring is a important tool that provides lenders like Matt Keway from Icon Mortgage with a way of determining the level of risk they accept when loaning money to individuals. A higher credit score indicates that you manage debt responsibly, and increases your chances that a lender will say YES to your request to borrower money to buy a home. There are multiple factors in determining a credit score. Familiarizing yourself with these aspects
Mortgage Advice
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Income-based Student Loan Mortgages Matt Keway
Student Loan Debt, Income-based repayment plans, and Home Mortgages Denied due to Student Loan Debt. In the past if you were trying to get a home mortgage and you have college student loan debt home mortgage lenders were required to use the 1% rule; which means that if you have $50,000 in student loans they are required to count $500.00 per month against your debt to income regardless if you have an income-based repayment plan
Mortgage Advice