Manage episode 284849210 series 2294384
This Episode of FlashBack Friday was originally published: June 21, 2012
Jason Hartman talks with one of the Seattle based lenders in his network about nationwide mortgage financing. You'll gain insights from Steve's 25 years in the mortgage business and you will learns some important distinctions between mortgage brokers, mortgage bankers and commercial banks.
As a mortgage banker with several warehouse lines exceeding eight figures, Steve and Jason bring power to overcome financing challenges. A good mortgage banker can offer the greatest number of options with the power of direct funding control. Here are some additional issues addressed in this episode:
Mortgage overlays Pre-qualification Rent schedules Counting rental income at 75% Property management agreements Mortgage sequencing DTI or Debt-to-Income Ratios and examples FICO scores and credit repair issues Short sales Foreclosures Medical bills Impact of positive cash flow and negative cash flow Fannie Mae four and 10 financed property thresholds and limits Cash reserves - banks vs brokerage accounts Self-employed borrowers and their write-offs Tax benefits like depreciation Interest rate forecast Inflation forecast Investment forecast Asset protection Community property states