New guideline updates are making it easier for self-employed or 1099 income borrowers to get pre-qualified for their dream home! You may qualify for a mortgage: Use 1099 & YTD Bank Statements 1099 income eligible in lieu of tax returns…
New Fannie Mae and Freddie Mac guidelines are helping more self-employed borrowers get pre-qualified for home loans! Beginning January 2024, only 1 year of income history is sufficient enough to approve financial stability under certain conditions. Traditionally, 2 years worth…
Can I get a mortgage using cryptocurrency? Did you know you can count cryptocurrency like bitcoin as an asset for your mortgage? The requirements for bitcoin, cryptocurrency, or coin based assets for home loans include: Must be converted to U.S….
How a 2/1 buydown may be able to lower your monthly housing payment When interest rates were at historic lows, a typical fixed rate mortgage loan was all most people needed. Now, rates have risen and borrowers may be looking…
Extended Rate Locks are Now Available for Conventional Loans! Extended rate locks can give you peace of mind when locking in your interest rates in an unpredictable market. GMFS Mortgage now offers extended rate locks up to 270 days. A…
Mortgage Insurance Has Benefits Did you know mortgage insurance has benefits? Most of the time it is seen as an extra cost, but there may be real benefits that result from getting Mortgage Insurance. You may be able to buy…
While mortgage interest rates remain near historic lows, they’ve started creeping up this year. As the economy continues to recover from the effects of the pandemic, experts are predicting that rates could continue to rise. So, what does this mean if…
Thinking of Building A Home? GMFS Mortgage Can Help with Construction Loans Building your dream home can be a very exciting option if the existing home inventory and the cookie cutter tract homes that you’ve seen are just not what…