by Athena Paquette | Sep 22, 2014 | Blog, Realtors
Are all pre-approvals are written in stone? Not necessarily. Read the story below and find out why you should run your online pre-approval through QC (Quality Control). I just had a listing agent ask me to verify or cross qualify a client who had approval from...
by Athena Paquette | May 19, 2014 | Realtors
True or False: All repair work has to be done before the close of escrow? False! Depending on the type of loan your client has qualified for, it is possible to do repair work after the close of escrow. For Conventional loans (Fannie Mae and Freddie Mac), and...
by Athena Paquette | May 13, 2014 | Realtors
Do you need a clear termite report to close escrow? NO. Termite reports and clearance are not a condition required by Fannie Mae or Freddie Mac. Some banks require it because it makes them more comfortable. Beware of anyone who says your seller or buyer HAS to...
by Athena Paquette | Apr 18, 2014 | Blog, Realtors
Myth Buster of the week: You need your own savings to buy a home. Not true! Both FHA and FNMA allow for an all gift down payment. FNMA allows 5% up to $417,000. FHA allows it all the way to the max $625,500 (even on duplexes, however not on 3 and 4 units). So if your...
by Athena Paquette | Jun 18, 2013 | Blog, Home Buyers, Investors
When trying to get the lowest down payment and the best loan rate, you’ll hear a lot about Fannie Mae, Freddie Mac, and FHA loans. However, people are often confused about these loan types. Myth #1: FHA loans are only for low income people: Not true! A FHA or...
