Diane Marletto's Blog

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Mortgage and Lending - 1st Mariner Bank - NMLS# 1119449
RECENT BLOG POSTS
During the mortgage process there are a lot of checks and balances that Underwriting and Processing go through. This is what you need to know to make sure your loan goes smoothly. I would say these are the top 10 headaches for all parties involved.    a) Don't change jobs or go self-employed b) D...
11/17/2013
A lot of clients in the Military are unclear on what their Funding Fee will be if they purchase or refinance a home in the VA loan program. There are so many factors involved.  First of all, what is the VA Funding Fee? A fee charged by the Veteran's Administration to guarantee the loan to a quali...
10/17/2013
What do you think the payment would be on a $5,000 mortgage loan? How much would your payment increase if you increased your mortgage $5,000 over 30 years?   You have to consider interest rate first of all.   In this example I'm using 5%.  a) If you increased your mortgage $5,000, your payment wo...
10/17/2013
    I've had somewhat of a lot of experience selling on Craigslist and Facebook Yard Sale Pages and there are a lot of things that just irk people off. Here's some hints to get or sell what you want and walk away with a happy transaction.    For Buyer/Person In Need:  1. Read the AD! If it says t...
09/27/2013
FHA loans and mortgage insurance. If I buy a house this month, can I cancel it after I gain equity in the home? Unfortunately, if you purchased the home after June 2013, you will follow under these rules: Loans beginning at 10% down or more will pay annual MIP for 11 years.Loans beginning at 10% ...
09/25/2013
    Your credit report and credit score a core factor in qualifying for a home loan.  Everyone should know what their credit score is and their credit history in detail. These are the guidelines I live by.  First and foremost you should check your credit annually (for free) at www.annualcreditrep...
09/25/2013
I started to create this document checklist for mortgage clients. But then it got crazy detailed!  It's a great tool for Realtors to give their clients that haven't been pre-approved yet, so they can work on getting the documents together for their Loan Officer. It's a great tool for Loan Officer...
09/25/2013
    Can I have more than one VA loan?? The answer is YES, you can have more than one VA loan at a time. Certain restrictions apply.    When you have a VA loan and you want to use your entitlement to get a second one, this is called 2nd tier eligibility.    The amount you can get on the 2nd loan w...
09/24/2013
Clients often ask about foreclosures, short sales, bankruptcies and consumer credit counseling. "When can I get a loan having filed one of those?" The answer is: IT DEPENDS. It depends on the loan program you are trying to qualify for. See the chart below to get an idea of the time frame you have...
09/24/2013
Yes you read that right.. There IS still 100% financing out there. Even better, you can roll 2% closing costs into the loan! USDA does not require any down payment from the buyer! What's the glitch? Well there are 2 main qualifiers: a) You must not make too much money, but enough to qualify. Here...
09/20/2013
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Diane Marletto

FHA, VA, USDA, Conventional & 1st Time Buyer Loans
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