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When Can I Get a VA Loan After a Recent Bankruptcy, Foreclosure, or Short Sale?

Derek Bissen, July 3 2022

​​If you are an eligible Veteran, and have experienced a recent bankruptcy, foreclosure, short sale or deed-in-lieu of foreclosure, you can obtain a new VA home loan after a period of time has elapsed. Waiting periods are based on TWO factors: 1) the type of prior housing event you experienced, and2) the type of loan program for the new home loan...

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​Bank Statement Home Loans - The Business Owner's Secret Weapon

Derek Bissen, June 27 2022

​Have you been working as an independent business owner for at least 2 years? Have you been denied for a conventional home loan by a bank or credit union because you are not "showing enough income on your tax returns"? This happens to entrepreneurs across the country. The reason has to do with how banks are forced to calculate your revenue using...

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Asset-Based Mortgages: How They Work and Qualification Requirements

Derek Bissen, June 27 2022

Do you live on investments, or do you claim so little taxable income on your tax returns that most lenders will reject your application for a mortgage? It is frustrating, we know. You know that you have more than enough cash on hand to qualify and afford your mortgage, but the bank doesn't seem to get it. Sound

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CONDOMINIUMS – Everything You Need to Know About Mortgage Financing for Condos

Derek Bissen, May 25 2022

Condos are hot here in Florida. But did you know, they can have special financing requirements?  We’re about to cover everything you need to know about Condominium financing and what you need to know about qualifying for a mortgage for this type of home. Unlike a single-family home or multi-family home, a Condominium is a unique form of...

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​ARM Loan Financing – Everything You Must Know

Derek Bissen, May 12 2022

Have you ever heard of a ARM loan and thought, “what is that?”  Keeping it simple, AN ARM LOAN IS SHORT FOR ‘ADJUSTABLE RATE MORTGAGE”.  ARM loans can be an extremely useful financial tool in certain circumstances. In this article we’ll cover the fundamentals so you will have a full understanding of how this type of home loan works, so you can...

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2022 Changes in Condominium Financing for Conventional Loans, and Some Great Alternatives!

Derek Bissen, November 19 2021

​On January 1, 2022, Conventional Financing will be changing with respect to financing of Condominiums. The change applies to all Conventional loans across the board, regardless of the lender, bank or credit union offering this type of financing. You see, Condominiums are a unique property type when it comes to mortgage financing.  Unlike other...

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​​Cannabis Home Loans for Self-Employed Business Owners in the Cannabis Industry

Derek Bissen, September 12 2021

​If you’re in the cannabis industry, you’ve likely faced adversity when looking for financing. Traditional lenders don’t lend to anyone in the Schedule 1 category, including cannabis sellers, growers and other businesses in the supply chain. This often leaves cannabis self-employed business owners without the financing they need including a...

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​Maximize your Cash Out Refinance with a COMBO Loan

Derek Bissen, September 1 2021

Are you considering refinancing your home to save money, do some home improvements or consolidate bills?  These days, it can be a really smart move, especially with home values trending upwards. Putting your home equity to work requires financing, and usually the first choice for most homeowners is a fixed-rate Conventional mortgage.  The...

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What is an Earnest Money Deposit?

Derek Bissen, August 25 2021

It's a check or sometimes a wire that is sent to the title company, not your lender, but through the title company in the transaction. The title company holds on to those funds throughout the transaction, and on the day of closing, it's released to the buyer. It might help to think of an Earnest Money Deposit sort of like a "down payment on your...

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Meet the 10 Parties Involved in Most Real Estate Transactions

Derek Bissen, August 13 2021

Whether you're buying a home or selling a home, it takes a village to successfully pull off a real estate transaction.  Most people are aware of the top 3, but there can be as many as 10 parties in a typical transaction.  There can actually be more than ten. 1.  BUYERS & SELLERS - this is a given, but technically, they're the most important....

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