The Power of Good Advice

ORM Blog

  • Facebook Social Icon
  • LinkedIn Social Icon

June 30, 2020

HomeStyle Renovation Mortgage

Continue With More HomeStyle…

The HomeStyle is a Fannie Mae (FNMA) loan that essentially allows an investor to purchase a property and include the renovation costs into the mortgage. It’s quite similar to a hard money loan, but the significant difference is that the loan is a permanent loan (15 or 30-year fixed). It’s also traditionally a LOT cheaper. Since the loan is FNMA backed, it’s going to conform more to the mar...

February 13, 2020

When buying a house with financing, the lender must verify the home's value and condition.  Usually through ordering an appraisal. Conventional and FHA appraisals have slightly different processes and may vary in their requirements. Tip. Federal Housing Administration, or FHA, loans typically have strict appraisal inspection guidelines. A conventional appraisal and FHA appraisal may have different requirements for passing inspection.

June 2, 2019

Private mortgage insurance can add hundreds of dollars to a mortgage payment. Here’s how to remove PMI payments.

The first is that you have by now accumulated/accrued at least 20% equity in the home, and your home is now at 80% of its original appraised value. PMI means lenders are more likely to offer low down payment, high-ratio mortgage loans. That’s good news if you need to buy a home with anything less than 20% down. When the balance drops to...

May 8, 2019

100% Financing Home Loans for New and Repeat Home Buyers.

  • Do you have a client that wants to buy a home but doesn’t have the down payment? You’re not alone.

  • 100% financing home loans are mortgages that finance the entire purchase price of a home, eliminating the need for a down payment.

  • New and repeat home buyers are eligible for 100% financing through nationwide government-sponsored programs

Qualifications 

-   Fico 640 and above

-...

May 6, 2019

Would a lender with an option to buy a home with no money down benefit you?

I bet your answer was YES, right? Because who wouldn’t like to get into a home with no money out of pocket? I know it might sound crazy, but it can happen. In fact, it happened for a recent client of mine, Stacey. Stacey and I actually met back in March at a park. As our sons became playground buddies, we started making small talk. We mainly talked about the neighborhood i...

April 12, 2019

One Republic Mortgage offers a variety of reduced documentation and alternative documentation loans for borrowers that cannot verify their income through traditional means such as bank statement loan program and assets as income loan program.

BANK STATEMENT LOAN PROGRAMS. 

Our bank statement loan programs are designed for self-employed borrowers that are not able to verify their income with tax returns. We can verify deposits on business or persona...

Please reload

ONEREPUBLICMORTGAGE
an Illinois residential mortgage licensee 

CALL

T: 888-855-7211 

F: 847-239-7629
 

OFFICE

725 E.Dundee Rd., Suite 201

Arlington Heights, IL 60004

FOLLOW US

  • Facebook
  • LinkedIn
  • YouTube

© 2014 - 2020 by One Republic Mortgage, Inc.   |   NMLS #258913    |   MB.6760633   |  NMLS Consumer Access