Robert's Blog

Mortgage and Lending - HomeBridge Financial Services (NJ) - NMLS 248937
Mortgages are available in all shapes and sizes, no money and low down payment plans are still available, and dont forget to get qualified prior to shopping to be sure you are looking in the right price range.
After decades in this industry I am still surprised at what happens. Yesterday was a doozy...  Standing at my desk yesterday morning (I'm cool like that, I have a fancy standing desk....)  I get an email from an agent I know, but do not do a lot of business with.. "Fully executed contracts for yo...
As a reminder, 2020 W2 and 1099 forms must be sent/made available to employees (borrowers) no later February 1, 2021 – (as January 31, 2021 falls on a Sunday). THIS IMPACTS PIPELINE LOANS.    Specifically,  for any loan closing/signing on or after February 1,  that is subject to the “most recent”...
Yesterday afternoon my Homebridge family received some horrible news.  One of our region's closers had a horrific fire in her home yesterday and she lost her 25yr old son, which I cannot even imagine how that would feel and hope I never have to.I just logged out of the go fund me page and was mov...
 Did you know we have seen some of the HIGHEST mortgage rates in YEARS at the onset of the pandemic?  Rates were moving so fast that they would change as we were on the phone with our clients  and we briefly had rates well into the 5's this spring as the market struggled to gain it's footing. Tha...
A few months back I wrote this Blog about Qualifying Self Employed Borrowers in the world of the Corona Virus.  This is an update to that blog, and Thankfully the guidelines are a little more simplified nowFirst a little history.  Fannie and Freddie never asked for a P&L (but lenders often did). ...
FHA has published the  mortgage limits for the calendar year 2021.  Limits are based upon CASE NUMBER ASSIGNMENT date and are effective beginning with case numbers assigned on and after January 1, 2021. Unlike Conventional loans: Pipeline cannot take advantage of these changes,  if the case numbe...
 Last week The Federal Housing Finance Agency announced the new conforming limits for 2021. (insert drum roll here) Single Family limits have increased from $510,400 to $548,250..  roughly a 7.4% jump in just one year.  This is a clear sign of the current pandemic boom we have seen this year and ...
 In a previous post I mentioned how much fun I was having shopping for a home.  Unfortunately that hunt continues since the inventory for my perfect house is pretty much non existent right now and we are officially homeless albeit with a very large bank account.The purpose of this blog, (other th...
 So I am about to be homeless.  My house is sold, closing soon and I cant find what I want in this crazy market.Empathy... Let's say I have buckets full of it for my borrowers that are out hunting. I have lost count of how many Houses we have seen but there are some stand out observations I have ...
  If you would like to see the video version of this blog you can click here: Just yesterday I was sent a contract with a ridiculously short closing date- even in a normal market it would have been difficult to meet. First thin...

Robert Rauf

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