Author: mortgagelady

We specialize in advanced web solutions including web design, web development and software development. We work closely with our clients to help them achieve their goals whether it is generating more leads, increasing sales or just painting a better look and feel of their company. Being a web design company we have decades of experience in website design, web application development and software customization that enables us to understand and please our clients. Clients earn more business and improve their internal processes with our superior quality and cost effective web design and development services....

17 October, 2018

I have been in real estate as an investor, a Realtor, and as a title agent for over 20 years. I have worked with Lauree on over a hundred deals. Not only does she know her business and have familiarity with dozens of different products, but she approaches each and every deal as an opportunity to build a relationship with her clients. She’s not just in this to make a buck, she’s in this to help people. Working at a title company, I know dozens of loan officers, and Lauree is the loan officer I trusted for financing when I bought my house.  Jake Crum – Regional Sales Director – Tennessee Title & Escrow Services LLC...

28 March, 2018

I can't say enough about how pleased we are to have had Lauree Leyland as our trusted loan officer. Lauree is so knowledgeable, caring and very professional. The thing that we admire most about her is the fact that she is so motivated and determined to make sure that her customers are taken care of in the most excellent way possible. It is so good to have the peace and confidence in knowing that we have someone who is not just trying to get us into a loan but was making sure that we are doing what is best for our lives. Her work ethic is superb and she has such a kind and considerate heart. I highly recommend her to anyone that's in need of a loan officer. I will send everyone I know her way. Ira and Deborah Wade - clients...

28 March, 2018

I have worked with Lauree for several years. She has handled my personal real estate transactions, as well as those of my clients. I have also referred her to the other agents within my firm. Lauree truly cares about her clients and will go above and beyond to make sure a transaction works and goes as smoothly as possible. I am grateful for every opportunity I have to work with Lauree, and I am honored to also call her my friend. Quenn N. Crum - Owner/Managing Broker - Exit Realty Eclipse...

28 March, 2018

It is always a pleasure for me and my buyer clients to work with Lauree. She has tremendous follow up skills and the broad knowledge to handle any kind of loan from traditional homes, to jumbo loans and even the occasional manufactured home when the need arises. Lauree has empathy to put herself in the client’s shoes and understands the importance of true customer service. She stays calm when all around her are not and always keeps her client’s interests first. George Porcella - Reliant Realty...

28 March, 2018

Working with Lauree made the process so easy. My refinance was done faster than I thought it would be and Lauree went out of her way to make sure I was in the loop the entire time. Amy Harris - client...

28 March, 2018

I have enjoyed a growing business relationship with Lauree in recent years. I have first-hand seen her help clients out of bad debt situations and make things happen where other lenders failed. She is a knowledgeable, dedicated, and compassionate mortgage professional. I have personally referred her to other business partners of mine because I trust they are in good hands with Lauree. Ryan Otto – District Director – GMFS LLC ...

28 March, 2018

Lauree we just wanted to let you know it was a pleasure to work with you. We really don't know what we would have done without you. You are the most professional person we have worked with for our mortgage needs. We look forward to working with you again, you have been such a blessing. Kenneth and Jill Morgan - Clients...

28 March, 2018

As a financial advisor by trade, I was especially appreciative of the way Lauree handled both of our mortgage transactions. My growing family achieved their financial goals with ease and it has been a pleasure dealing with Lauree both personally and professionally. John and Amanda Lankford – Clients ...

28 March, 2018

We are thankful for Lauree!  Her knowledge and expertise helped guide my husband and I all the way to a very smooth closing for three different mortgages in the past three years with flawless execution! Having Lauree behind us empowered us to make informed decisions that were right for our family. Andrew and Aleda Stokes – Clients ...

28 March, 2018

A reverse mortgage is a type of home equity loan that allows you to convert some of the existing equity in your home into cash while you retain ownership of the property. Equity is the current cash value of a home minus the current loan balance. A reverse mortgage works much like a traditional mortgage, except in reverse. Instead of the homeowner paying the lender each month, the lender pays the homeowner. As long as the homeowner continues to live in the home, no repayment of principal, interest, or servicing fees are required. The funds received from a reverse mortgage may be used for anything, including housing expenses, taxes, insurance, fuel or maintenance costs. To qualify for a reverse mortgage, you must own your home. You may choose to receive the reverse mortgage funds in a lump sum, monthly advances, as a line-of-credit, or a combination of the three, depending on the reverse mortgage type and the lender. The amount of money you are eligible to borrow depends on your age, the amount of equity in your home, and the interest rate set by the lender. Because the borrower retains ownership of the home with a reverse mortgage, the borrower also continues to be responsible for taxes, repairs and maintenance. Depending on the plan selected, a reverse mortgage is due with interest either when the homeowner permanently moves, sells the home, dies, or the end of a pre-selected loan term is reached. If the homeowner dies, the lender does not take ownership of the home. Instead, the heirs must pay off the loan, typically by refinancing the loan into a forward mortgage (if the heirs meet eligibility requirements) or by using the proceeds generated by the sale of the home....

28 March, 2018

The traditional fixed rate mortgage is the most common type of loan program, where monthly principal and interest payments never change during the life of the loan. Fixed rate mortgages are available in terms ranging from 10 to 30 years and can be paid off at any time without penalty. This type of mortgage is structured, or "amortized" so that it will be completely paid off by the end of the loan term. There are also "bi-weekly" mortgages, which shorten the loan by calling for half the monthly payment every two weeks. (Since there are 52 weeks in a year, you make 26 payments, or 13 "months" worth, every year.) Even though you have a fixed rate mortgage, your monthly payment may vary if you have an "impound account". In addition to the monthly loan payment, some lenders collect additional money each month (from folks who put less than 20% cash down when purchasing their home) for the prorated monthly cost of property taxes and homeowners insurance. The extra money is put in an impound account by the lender who uses it to pay the borrowers' property taxes and homeowners insurance premium when they are due. If either the property tax or the insurance happens to change, the borrower's monthly payment will be adjusted accordingly. However, the overall payments in a fixed rate mortgage are very stable and predictable....

28 March, 2018

HARP 2.0 is a refinance option for homeowners that are "underwater," meaning they owe more on their home than their home is worth. In order to be eligible for the HARP 2.0 refinance program, you must meet certain criteria. Firstly, you must not have refinanced through the original HARP program. You need to be current on monthly mortgage payments with no late payments over 30 days due in a minimum of 6 months, and no more than one late payment in the previous 12 months. Your mortgage must be backed by Fannie Mae or Freddie Mac and must have been bought by either Fannie or Freddie before May 31st, 2009. Your loan to value (LTV%) must be at least 80%. The purpose of HARP is to allow homeowners who owe a mortgage that is more than the value of their home a more affordable and stable mortgage....

27 March, 2018

The THDA Loan program was designed to help first-time homebuyers overcome these common obstacles: Not enough savings for a down payment Uncertain how the home-buying process works Worried you won’t qualify for a home loan Concerned about high-risk, “gimmick” mortgages Most THDA Loans are insured by FHA or USDA-RD, which means you can borrow up 96.5% of the total price of the home you’re buying. This means you need a minimum of3.5% for a down payment—and financial assistance is available to every approved homebuyer! You can use your financial assistance for any loan-related costs, including down payment and closing costs. As a state agency, THDA designed the Loan program so that lenders are able to say “yes” to more first-time homebuyers. Responsible lending is our top priority. We only offer 30-year, fixed interest rate home loans. If you qualify for a THDA Home Loan, you can apply for financial assistance with your down payment and/or closing costs. Financial assistance comes in the form of a second mortgage loan on your home. There is no interest on this second loan, and you don't have to make any monthly payments on it either. You only have to pay it back when you sell, move out of, or refinance your home. And in certain circumstances, this second loan can be forgiven, meaning you don’t have to pay it back at all. ***Clickable Text addition below** Additional Reading https://drive.google.com/file/d/0B3EyTinY-z3lcjg5QTRmSXl3Wk54WXlQclhmbVZQdkJ3cFJr/view?usp=sharing  ...

27 March, 2018

USDA Loans - Single Family Housing Guaranteed Loan Program. A Zero Money Down Option.  This program assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may build, rehabilitate, improve or relocate a dwelling in an eligible rural area. The program provides a 90% loan note guarantee to approved lenders in order to reduce the risk of extending 100% loans to eligible homebuyers.   Applicants must: Meet income-eligibility Agree to personally occupy the dwelling as their primary residence Be a U.S. Citizen, U.S. non-citizen national or Qualified Alien Have the legal capacity to incur the loan obligation Have not been suspended or debarred from participation in federal programs Demonstrate the willingness to meet credit obligations in a timely manner Purchase a property that meets all program criteria To see if homes in your area or in an area you would like to live qualifies for USDA, visit: https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do To see if your income qualifies for this program, visit: https://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do?pageAction=state ***Clickable Text addition below** Additional Reading https://drive.google.com/file/d/0B3EyTinY-z3leGtLYm1PMG1zZGtPZ3lvOGQtU2plM2FqUTFj/view?usp=sharing...

27 March, 2018

The HomeStyle® Renovation mortgage provides a simple and flexible way for borrowers to renovate or make home repairs with a conventional first mortgage, rather than a second mortgage, home equity line of credit, or other more costly methods of financing. With constrained housing supply and evolving borrower needs, HomeStyle Renovation can help lenders make the most of the growing renovation market while helping their borrowers create a dream home. Renovation financing that features standard pricing with conventional execution for loans that can be delivered even before the project starts.  It can be used on any renovation project and can help lenders save deals that have repair contingencies. Plus, when used with HomeStyle Energy on energy upgrades, lenders may get a $500 LLPA credit.  Compared with government rehab financing, a conventional loan’s cancellable mortgage insurance may provide a better option for borrowers. Cost-effective way to renovate or repair a home, at the time of purchase or later on.   Upfront draws help borrowers start projects without spending out-of-pocket. Borrowers can qualify for a CLTV of up to 105% with eligible Community Seconds® subordinate financing. BEGINNING MARCH 17, 2018  HomeStyle Renovation —Announcement SEL-2018-02, we’ve simplified and expanded eligibility for HomeStyle Renovation to help lenders better meet the needs of today’s borrowers. Enhancements include: The maximum allowable LTV, CLTV, and HCTLV ratios will be increased to 97% for 1-unit, principal residence, purchase and limited cash-out refinance transactions. The limit on eligible renovation funds will be increased to 75% of the lesser of the purchase price plus renovation costs, or the “as-completed” appraised value for purchase transactions; and 75% of the “as-completed” appraised value for refinance transactions. Manufactured housing will be eligible with HomeStyle Renovation, with the eligible renovation funds capped at the lesser of $50,000 or 50% of the “as-completed” appraised value HomeStyle Renovation loans may be eligible for representations and warranties relief once the renovation has been completed. ***Clickable Text addition below***   Homestyle Flyer https://drive.google.com/file/d/0B3EyTinY-z3lN2pEYmx1aG1qazRubzgxay1BX2F4dzc1RXhz/view?usp=sharing Additional Reading 1 https://drive.google.com/file/d/0B3EyTinY-z3lZURyN1BmYUxJdDhBT3pGcTJPeGFDdFJwMHdj/view?usp=sharing Additional Reading 2 https://drive.google.com/file/d/0B3EyTinY-z3lazVSYlB6bEdCTVpvR3g4OEt2dzR1c284Q2tV/view?usp=sharing Additional Reading 3 https://drive.google.com/file/d/0B3EyTinY-z3lWjdCS2ZLNk9hcjBpNHBsWmhVZWV5dnhLZlk0/view?usp=sharing...

27 March, 2018

FHA home loans are mortgage loans that are insured against default by the Federal Housing Administration (FHA).  FHA loans are available for single family and multifamily homes. These home loans allow banks to continuously issue loans without much risk or capital requirements. The FHA doesn't issue loans or set interest rates, it just guarantees against default. FHA loans allow individuals who may not qualify for a conventional mortgage obtain a loan, especially first time home buyers. These loans offer low minimum down payments, reasonable credit expectations, and flexible income requirements. ***Clickable Text addition below*** FHA 203K Flyer https://drive.google.com/file/d/0B3EyTinY-z3lTTdMc0JTOWRXeUlGeVdXVWVqakJ0SVJkX3Rv/view?usp=sharing Additional Reading: https://drive.google.com/file/d/0B3EyTinY-z3lQzFPbHJWeWFha3NlUURBR29VTzFWTFNlWEg4/view?usp=sharing...

27 March, 2018

The VA Loan provides veterans with a federally guaranteed home loan which requires no down payment. This program was designed to provide housing and assistance for veterans and their families. The Veterans Administration provides insurance to lenders in the case that you default on a loan. Because the mortgage is guaranteed, lenders will offer a lower interest rate and terms than a conventional home loan. VA home loans are available in all 50 states. A VA loan may also have reduced closing costs and no prepayment penalties. Additionally there are services that may be offered to veterans in danger of defaulting on their loans. VA home loans are available to military personal that have either served 181 days during peacetime, 90 days during war, or a spouse of serviceman either killed or missing in action. ***Clickable Text addition below** Additional Reading: https://drive.google.com/file/d/0B3EyTinY-z3lSFJyVFJSUUVQV1JUQWFvcWlTUTJla3NQalJj/view?usp=sharing...

27 March, 2018

LTV: Maximum LTV of 97 percent; TLTV 105 percent. Property Options: 1-unit properties, condos and planned unit developments; manufactured homes are not eligible. Flexible Sources of Down Payments:Down Payment can come from a variety of sources, including family, employer-assistance programs and secondary financing. Cancellable Mortgage Insurance: Mortgage insurance (MI) can be cancelled after loan balance drops below 80 percent of the home's appraised value. Stable Mortgages: Fixed-rate mortgages with a term of up to 30 years. Refinance Flexibility: Purchase and no cash-out refinancing options available. Income Flexibility : Borrowers with incomes above AMI may be eligible in high-cost areas. No income limits in underserved areas. Use the Home Possible Income & Property Eligibility Tool to see income limits for specific properties. Primary Residence Only: All borrowers must occupy the property as their primary residence.   ***Clickable Text Addition Below** Additional Reading https://drive.google.com/file/d/0B3EyTinY-z3lUHJsc3lscllzd3kzdzlTRHRQeWNGcWY0ZnZz/view?usp=sharing...

27 March, 2018

Home Possible® mortgages offer low down payments for low- to moderate-income homebuyers or buyers in high-cost or underserved communities. LTV: Maximum LTV and TLTV of 95 percent. Property Options: 1-4 units, condos and planned-unit developments; manufactured homes are eligible with certain restrictions. Flexible Sources of Down Payments:Down Payment can come from a variety of sources, including family, employer-assistance programs and secondary financing. Cancellable Mortgage Insurance: Mortgage insurance (MI) can be cancelled after loan balance drops below 80 percent of the home's appraised value. Mortgage Flexibility: 15- to 30-year fixed-rate mortgages, 5/1, 5/5, 7/1 and 10/1 ARMs. Refinance Options: No cash-out refinancing option is available for borrowers who occupy the property. Income Flexibility: Borrowers with incomes above AMI may be eligible in high-cost areas. No income limits in underserved areas. Use the Home Possible Income & Property Eligibility Tool to see income limits for specific properties.   ***Clickable Text Addition Below** Additional Reading: https://drive.google.com/file/d/0B3EyTinY-z3lUHJsc3lscllzd3kzdzlTRHRQeWNGcWY0ZnZz/view?usp=sharing...

27 March, 2018

HomeReady® mortgage is an affordable low down payment mortgage product designed for creditworthy low- to moderate-income borrowers, with expanded eligibility for financing homes in low-income communities. Borrower benefits: Low down payment with up to 97% LTV financing for home purchases Flexible sources of funds with no minimum contribution requirement from borrower’s own funds (1-unit properties) Favorable pricing that’s most competitive with credit scores ≥ 680 and LTV ratios above 80% Rental and boarder income may be considered for qualifying CLTV up to 105% for loans with an eligible Community Seconds® transaction Cancellable mortgage insurance once the borrower reaches 20% equity in the home (restrictions apply) Reduced MI coverage requirements for LTVs above 90% (up to 97%) Homeownership education and housing counseling options empower borrowers to become successful homeowners ***Clickable text addition below*** Additional Reading 1 https://drive.google.com/file/d/0B3EyTinY-z3lUVktX2k0U09oaUpCMTFJNEFjOThjdXl1ZmdB/view?usp=sharing Additional Reading 2 https://drive.google.com/file/d/0B3EyTinY-z3lMndGMnlwRk15X2xYZnQ1YkFKdGEzRTZIZFhj/view?usp=sharing...

27 March, 2018