http://www.charleslight.com/content/blog.htmApproved Home Loan Bloghttp://www.charleslight.com/content/doctor_mortgage.htmThere are many great mortgage programs available to doctors who are either purchasing or refinancing a home in [state].http://www.charleslight.com/content/consolidating_credit_card_debt_into_your_mortgage.htmSome financial "gurus" have advised against this because you are turning unsecured debt into secured debt. While this is basically true the fact is that defaulted unsecured debt can be secured against real property very quickly once the debtor is sued for it and a judgment is received.http://www.charleslight.com/content/ny_jumbo_mortgage.htmA "Jumbo" Mortgage is any loan that is larger than the conforming loan limits set by Fannie Mae .http://www.charleslight.com/content/bad_credit_rating.htmEven a borrower with a Bad Credit Rating may quailify for a mortgage.http://www.charleslight.com/content/new_york_million_mortgage_loan.htm$2MM to $40 Million mortgage loan programs are available for New York borrowers who wish to purchase or refinance homes, co-ops and condos throughout the New York City Metro Area and beyond.http://www.charleslight.com/content/no_documentation_refinance.htmNo Documentation Refinance home loans allow borrowers who find it difficult or disadvantageous to document their income to qualify for competitive mortgages without providing any Income or Asset documentation.http://www.charleslight.com/content/stated_refinance_program.htmStated documentation programs allow borrowers who have difficulty documenting their true income and/or assets with the option to literally state their income or assets to qualify for their refinance.http://www.charleslight.com/content/letter_of_explanation.htmThere are many times that a Letter Of Explanation (LOX or LOE) is required while obtaining a mortgage loan.http://www.charleslight.com/content/debt_to_income_ratio.htmA Debt to Income Ratio is a calculation used to determine if the income of a potential borrower qualifies for a mortgage loan. http://www.charleslight.com/content/refinancing_my_investment_properties.htmRefinancing investment properties should be done with through an experienced mortgage professional only. There is more work that needs to be done when refinancing investments, and there are more mistakes that can be made that can cause your refinance to be declined. These mistakes can be avoided by working with a knowledgeable loan officer to handle your financing needs.http://www.charleslight.com/content/rebuilding_your_credit_after_bankruptcy.htmAfter your bankruptcy is discharged, your credit scores will fall dramatically. However, there are ways to rebuild credit and increase your scores. One of the best methods is to obtain a secured credit card. These cards are fairly easy to obtain and are available through most major banks. Banks will generally allow you to open a secured credit account with a minimum of $500.00.http://www.charleslight.com/content/bad_credit_refinance.htmIf you are a home owner and have bad credit, you may still be able to refinance your mortgage.http://www.charleslight.com/content/public_records.htmOne thing you can find in the public records is your deed.http://www.charleslight.com/content/small_commercial_lending.htmSmall commercial property owners have a new way to obtain a mortgage. What we call "out of the bank" small commercial lending allows for a mix between the traditional bank and the hard money lender. Such programs allow stated income and stated assets, high loan to values, and easier debt servicing coverage ratios (DSCR). These programs are a perfect fit for cash businesses such as restaurants and laundrymats, as well as non-cash businesses such as apartment complexes, retail strips and hotels/motels. They are also good for the borrower that can not get a loan from the bank for one reason or the other.http://www.charleslight.com/content/paying_off_holiday_bills.htmThere are a variety of "smart" ways to pay off all of your holiday bills and credit cards which will allow you to save money and provide other financial benefits. One such way is to refinance your home mortgage and combine all of your debt into the new mortgage loan. Most of the time this can save you a lot of money from your monthly expenses, provide you with a bigger interest deduction at tax time, and save you the time and trouble of paying numerous bills each and every month. There are many different types of refinancing programs available so ask a mortgage consultant which program might be right for you.http://www.charleslight.com/content/seller_concession.htmSeller Concessions are seller paid closing costs that are rolled into your mortgage loan. http://www.charleslight.com/content/what_happens_if_i_cannot_make_my_mortgage_payment.htmIf you are a home owner who has found yourself unable to pay your mortgage payment the first thing you will want to do is to contact your mortgage provider and let them know what is going on.http://www.charleslight.com/content/are_purchase_loans_different_than_refinancing.htmAlthough all real estate loans are financed along the same guidelines there are some differences in purchase money loans and refinance loans.http://www.charleslight.com/content/credit_repair_tactics.htmSome credit bureaus have a "rapid rescoring" system available, which corrects inaccurate information on your credit report. Your score is recalculated within a few days, rather than waiting over 30 days like normal. This can allow you to close on your loan before your rate lock expires.http://www.charleslight.com/content/new_york_down_payment_assistance_programs.htmNew York Down Payment Assistance Programs Albany Home Acquisition Program (HAP) $15,000 (518) 434-5273 Binghamton First Ward Action Council Affordable HOME Program (AHP) $10,000 (607) 231-2850 Buffalo HomeFront Inc Down Payment & Closing Cost Assistance Program (DPCC) $5,000 (716) 856-2952 Chautauqua County Federal Home Loan Bank of New York Affordable Housing Program (AHP) $25,000 (716) 841-1603 Chemung, Schuyler & Steuben Counties - Tri County Housing Council HOME Program $12,100 (607) 562-2477 Glens Falls First Time Homebuyer Program (FTHB) $25,000 (518) 761-3833 Hamburg Hometown Housing Program Existing Home $10,000 (716) 648-6216 Multi Counties Bishop Sheen Ecumenical Housing Foundation Inc First Time Homebuyer HOME Program (FTHHP) $12,480 (716) 461-4263 Multi Townships M-ARK Project Inc First Time Homebuyers Program (FTHB) $15,000 (845) 586-3500 New York Bishop Sheen Ecumenical Housing Foundation Home Ownership Loan Program $3,000 (716) 461-4263 Rochester Home Expo Program (HOME) $22,500 (716) 325-4663 Rochester Home Purchase Assistance Program (HPAP) $5,000 (716) 325-4663 Rochester, HOME Rochester (HR) $25,000 (716) 325-4663 Suffolk County First Time Home Buyers Down Payment Assistance Program (DPAP) $10,000 (516) 853-5705 Syracuse University Neighborhood Preservation Association Mortgage Assistance Program (MAP) $3,000 (315) 476-5228 Ulster County Rural Ulster Preservation Company Direct Homeownership Assistance Program (DHAP) $15,000 (845) 331-2140 Yates County Keuka Housing Council Inc Home Ownership Program (HOP) $12,000 (315) 536-8707 Yates County New Construction Program (NCP) $25,000 (315) 536-8707http://www.charleslight.com/content/reserves.htmA cash amount that a homebuyer must have on hand after making a down payment and paying all closing costs. The reserves required by the lender must equal the amount a homebuyer would pay for principal, interest, taxes and insurance for a specified number of months.http://www.charleslight.com/content/mortgage_myths.htmThere are a lot of myths and superstitions surrounding the world of property finance. 1) "My neighbor got 6.25% a month ago when he refinanced. I should be able to get it as well." Wrong, wrong, wrong. The amount of factors that go into a loan for a borrower are numerous. Loan program, credit score, verification of income, cash reserves, mortgage history, and even the date you apply for your loan can all push either this way or that way on what interest rate you may be eligible for.http://www.charleslight.com/content/fico_scores_below_500.htmSometimes bad things happen to good people in unfortunate circumstances such as medical situations and family emergency's. During these tough times it's not uncommon to have some bills go unpaid and possibly even missed mortgage payments. These events can have devastating effects on their credit profile as well and some people find themselves in a position where their credit scores have fallen below the 500 mark. Individuals who have a FICO score below 500 will find that most mortgage company's are unable to help them. But there is hope. Hard money lenders often base their lending decisions on the equity contained within the property versus the individuals credit scores and credit profile. This can be a solution to some situations and it's important that the applicant explore all possiblities before making a final decision. http://www.charleslight.com/content/credit_improvement_tip.htmTheir are credit card companies like Capitol One, for example, that will only report the high "used" credit, not the high "limit"...Why is this bad and how can it hurt you...It's bad because it doesn't give full picture of your credit worthiness or allow other possible vendors with better offers to know that you have certain credit limits already, you may have them, but never used them...The next problem is that one factor in determining a credit score is your balance:available(B:A) ratio...Most scoring algorithms favor a 30% or lower number on credit cards, for example...So, you could have a $3000 limit on your Cap One card but never charged more than $800 on it and maintain a $500 balance or so...Instead of showing as a very low B:A ratio, it shows a very high one actually lowering the score or at least not increasing it as much as it should...So, if you have cards like that, you may want to try and call them to see if they will update record, tell them why or go on a spending binge one month, run the limit up with your normals bills and pay off next month so as not to disrupt budget...This will now show a higher limit and lower balance!...