Richard's Real Estate Thoughts - Fairway Independent Mortgage Corporation, NMLS#2289

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Mortgage and Lending - Mortgage Loan Officer, Fairway Independent Mortgage Corporation NMLS #2289 - Loan Officer, NMLS 184479
Mortgages, Mortgage, Home loans, home finance, home refinance, home purchase, credit, credit scoring, credit repair, conventional, FHA, VA, Rural Development, investment, First Time Home Buyer, investment, FHA 203k, renovation loans, Chattanooga, Knoxville, Cleveland, Nashville, Memphis, North Georgia, Hamilton, Bradley, Sequatchie, Catoosa, Walker, Davidson, Tennessee, Georgia, Ooltewah, Soddy Daisy, Signal Mountain, MLO NMLS 184479, TN Lic 40161, Georgia Mortgage Licensee
This is the blog for Richard Byron Smith, NMLS# 184479 .  Mortgage loan officer for Fairway Independent Mortgage Corporation, NMLS #2289.Phone: 423-280-0345Email: Richard.Smith@FairwayMC.comBranch Contact InformationFairway Independent Mortgage Corporation2115 Stein Dr, Suite 215Chattanooga, TN  ...
Reviewing the proper documentation can be more important to a reliable home mortgage loan prequalification* than looking at credit. Most people have some idea of their credit and credit requirements. Critical questions which should be addressed early involve employment and address history, income...
Doctors can take advantage of special mortgage programs that allow for lower down payments and purchase prices higher than normal conventional limits. These programs are offered to licensed medical doctors and residents, including dentists, optometrists, and pediatricians. While often a standard ...
Good communication is essential to closing your home mortgage on time. It is so important that communication should be one of the main qualities buyers should evaluate in selecting a mortgage loan officer to help with their home purchase.Some communication expectations:Returned phone calls – this...
VA home loans offer 100% mortgages for eligible veterans. This includes mortgages for purchases and for cashout refinances. Even for new home construction. VA One Time Close mortgage allows for veterans to finance the construction of a new home with 100% financing.The VA construction permanent lo...
Here are some reminders for home buyers, about things to do and not to do which can impact your home mortgage closing. Buying a home is best when it is a planned life event. A couple months before beginning the home search and mortgage preapproval process, looking at your credit and assets is rec...
USDA Rural Development is an excellent home mortgage program for eligible buyers and homes. The program allows no down payment, 100% LTV mortgage. While there is mortgage insurance, the monthly premiums are less that the premiums for FHA and have actually been lowered effective 11/1/2016. See my ...
VA loans have an income requirement in addition to the more common debt to income ratio, DTI. VA’s Residual Income can affect a veteran’s loan approval, especially at the lower income levels.VA Residual Income is based on family size and region and loan size: Table of Residual Incomes by RegionFo...
Manufacture homes are eligible for financing with FHA, VA, and conventional loans. For many buyers looking for maximum square footage at a lower price, manufacture homes can be an attractive option.The most important additional step for financing a manufactured home is the requirement for an engi...
FHA new construction is a great program for borrowers who want to build their own home and do not have a large down payment. The FHA new construction program allows for a down payment as little as 3.5% of the lesser of the construction cost or appraisal value.The buyer can use their own land equi...

Richard Byron Smith, NMLS #184479

Mortgage Loan Officer
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