Lakewood's #1 VA Mortgage Expert - Kevin T

Gift Funds Yet To Be Received: 1. Provide executed gift letter. If you have applied for a FHA loan, the FHA Certification section must be signed by both the gift donor and the recipient acknowledging the warning stated in that section. FHA loans do not require notarization of the borrower's sign...

A credit report is required on a non-purchasing spouse residing in a community property state or when a property to be insured is located in a community property state. A valid and reliable verified credit profile of the non-purchasing spouse must be established and their debts included in the bo...

Here's a snap shot of a local deal this week. Sales Price:  230,000 Down Payment: 46,000 (20%) Loan Amount: 184,000 Credit Score: 796 Program:  7/1 LIBOR ARM 5/2/5 Caps Rate: 3.25% with 1% Loan Fee APR: 3.367  

More than likely this roof will need to be cleaned prior to closing.  Not only will the homeowner/seller incur the cost of the cleaning the roof, but also a re-inspection fee to verify the work has been completed.  Re-inspection fees generally run around $75-$100.  Plus treating moss will extend...

Conventional Loans  The Homeowner's Protection Act (HPA) of 1998   What Loans Are Covered?  Generally, the HPA applies to residential mortgage transactions obtained on or after July 29, 1999, but it also has requirements for loans obtained before that date. This new law does not cover VA and FHA ...

HUD will increase the annual portion of the FHA Mortgage Insurance Premium for case numbers assigned on or after April 18th, 2011. In this example of a $163,000 purchase, the monthly payment increase is $33.00 per month.  Now is a great time to buy...  More inventory, great mortgage rates, and lo...

2011 Property tax rates for Pierce County are now available online.  Did your property taxes go up or down?  Click here to find out:  http://epip.co.pierce.wa.us/CFApps/atr/ePIP/search.cfm

When applying for a home loan, one item that will be requested is a copy of your one or two most recent bank statements.  Ever wonder what the underwriter (person who says yes or no on your loan) looks for on your bank statement?  First they will make sure it's the actual bank statement.  Not an ...