at 5401 N Oracle Rd, Tucson, 85704 United States
Roger LaFaye NMLS #1098488 VIP Mortgage Corporation NMLS # 145502 BK 0909074 Equal Housing Lender
"V.I.P. Mortgage, INC. does Business in Accordance With Federal Fair Lending Laws" "V.I.P. Mortgage, Inc. is not acting on behalf of or at the direction of HUD/ FHA or the Federal Government. V.I.P. Mortgage, Inc. is approved to participate in FHA programs but the products and services performed by V.I.P. Mortgage, Inc. are not coming directly from HUD/ FHA"
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"Your habits create who you are. If you're not willing to change your habits, you aren't going to change as a person." - Herm Edwards
You can't steal second base with your hand on 1st. Step out of your comfort zone and go to another level. Have Faith You can do this! TRUTH.
The foreclosure sector of the housing market continues to receive positive news as completed foreclosures fell by 19% from January 2013 to January 2014. Government sponsored entity Freddie Mac reported record income for 2013, due in part to the recovery in the housing market.
One person in pursuit of excellence enhances the performance & energy of everyone around them. Give your best!#MotivationMonday
How to legally manipulate the Credit Scoring Model! By Credit Resource Corp. If you would like a copy of this CD, send me a message or your email address and I will e-mail you a copy.
Your Happiness shouldn't be dependent on what happens Externally it should be determined by the way u feel Internally. Smile Baby!!! TRUTH. Deion Sanders
Mortgage Credit Score When you apply for a mortgage, a number of factors influence the type of mortgage and interest rate for which you may qualify . These include your employment history, monthly income, assets, current liabilities or debts and credit score. Your credit score reflects your history of repaying debts, such as car loans or credit card debt, according to the terms you agreed to when you borrowed money. This repayment history is reported to national credit bureaus which determine FICO scores. When you apply for a mortgage, lenders review FICO scores to determine the mortgage programs for which you may qualify . To learn more about credit scoring, visit fico.com. If you have questions about how your credit score may impact your mortgage application, contact Roger LaFaye
I am no longer working at VIP Mortgage. Thank you very much for your support and referrals. My heart was pulling me in a different direction.
Smart Strategies to Save for a Down Payment Although you may be thinking of buying a home in the next few years, the time to start saving for your down payment is now. Here are some strategies to help you save the amount you need: 5 1. Set a goal. Determine how much you need to put away, and figure out the number of months it will take for you to save that much. Once you have a figure, make it a written goal to save that amount every month. 2. Keep your down payment savings separate. Open a high interest savings account at your bank or credit union specifically for your down payment. It’ll accrue more interest as it builds, and help you to achieve your savings goals quicker. 3. Make saving a habit. Once you’ve set your goal, transfer a portion of your paycheck to your savings account. If it helps, set it up to automatically transfer money into this account each pay day; that way you don’t need to remember to do it and you won’t be tempted to use it for non-emergencies. 4. Make cuts to your discretionary spending, and divert the excess into savings. 5. Get a roomie. Splitting your current home expenses with another person will allow you to save more money for a down payment on a home. 28%: The maximum amount of your gross monthly income that is consumed by housing expenses. Cutting Back to Make Them Suffer homeownership a Reality The majority of people who plan to buy a home in the future would sacrifice some luxuries to save for a down payment. 50% would cut back on dining out. 49% would cut back on shopping for non-essential items. 47% would give up cable television, trips to the salon and other luxuries. 10% would reduce their contributions to a 401(k). Source: CBS MoneyWatch
USDA Program Makes “Rural”Homes More Accessible One of the biggest difficulties many first-time homebuyers face is a lack of down payment and the necessary funds for closing costs. However, even with the widespread availability of “no-money-down programs” evaporating in the credit crisis, one national no-down payment program still remains: USDA Rural Development home loans. Guaranteed by the USDA (United States Department of Agriculture), this program might make you think that homebuyers have to buy farmland or live “in the country” to qualify, but this is often not the case. • In fact, you might be surprised to see just how many neighborhoods actually do qualify as rural development areas. • For this program, the term “rural” really applies to those areas with a lower population or fewer homes, not necessarily those areas and neighborhoods far outside of the city. Other than the location of the property homebuyers are seeking to buy, there is one other limitation to this valuable program that homebuyers must consider: their income. Luckily, however, these numbers have recently increased to allow more potential buyers to take advantage of this special program. • For households in non-high cost areas, with up to four people, the income limit can be over $70,000 (every area will be different). In households where 5-8 people reside, the income limitation can be over $90,000 (again, every area will be different). These income limitations are guidelines and, in some cases, may be exceeded. It’s important to note that buyers don’t have to be first-timers to qualify for a USDA loan. However, in most cases they cannot own another property at the time of closing a USDA mortgage. To find out more about USDA loans, give us a call. For more information and income limits, go to http://eligibility.sc.egov.usda.gov. Roger LaFaye Phone (520) 531–9474 email@example.com www.vipmtginc.com V.I.P Mortgage, Inc. NMLS #145502 BK 0909074. V.I.P. Mortgage, Inc. Does business in Accordance With The Fair Lending Law. V.I.P. Mortgage, Inc. is not acting on behalf of or at the direction of HUD/FHA or the Federal Government. V.I.P. Mortgage, Inc. is approved to participate in FHA programs but the products and services performed by V.I.P. Mortgage, Inc. are not coming directly from HUD or FHA. 5401 N Oracle Tucson, AZ 85704 NMLS 145502, BK 0909074 LO NMLS# 1098488 AZ: LO–0914058
Let Your Home Take Care of You With a Reverse Mortgage - Reverse mortgages were created specifically for senior homeowners, allowing them to make the most of the equity they have acquired in their homes. With a reverse mortgage, you borrow against the equity you have established in your home and do not need to repay the loan for as long as you live in the home as your primary resi- dence, maintain your home in good condition, and pay property taxes and insurance. You can live in your home and enjoy making no monthly principal and interest mortgage payments. Depending on your financial situation, a reverse mortgage has the potential to help you stay in your home and still meet your financial obligations. We realize that reverse mortgages may not be right for everyone, and encourage you to gather and review the reverse mortgage information and discuss your specific needs with your family members and your financial, legal, and tax advisors. VIP Mortgage Company's Reverse Mortgage Professionals are dedicated to helping you throughout this process and are available to answer any of your questions
Are You FHA Streamline Refinance Eligible? Although the FHA Streamline Refinance eschews the "traditional" mortgage verifications of income and credit score, as examples, the program does enforce minimum standards for applicants. The official FHA Streamline Refinance guidelines are below. Note that not all mortgage lenders will underwrite to the official guidelines of the Federal Housing Administration. Perfect, 3-Month Payment History Is Required The FHA's main goal is to reduce its overall loan pool risk. Therefore, it's number one qualification standard is that homeowners using the Streamline Refinance program must have a perfect payment history stretching back 3 months. 30-day, 60-day, and 90-day lates are not allowed. One mortgage late payment is allowed in the last 12 months. Loans must be current at the time of closing. Click for your personalized FHA Streamline Refinance mortgage rates. 210-Day "Waiting Period" Between Refinances The FHA requires that borrowers make 6 mortgage payments on their current FHA-insured loan, and that 210 days pass from the most recent closing date, in order to be eligible for a Streamline Refinance. Employment And Income Are Not Verified The FHA does not require verification of a borrower's employment or annual income as part of the FHA Streamline process. There is no Verification of Employment, nor are there paystubs, W-2s or tax returns required for approval. You can be unemployed and get approved for a FHA Streamline Refinance so long as you still meet the other program requirements. Credit Scores Are Not Verified The FHA does not verify credit scores as part of the FHA Streamline Refinance program. Instead, it uses payment history as a gauge for future loan performance. This means that FICO scores below 640, below 620, below 580, and below 500 are eligible for Streamline Refis. The Refinance Must Have "Purpose" Streamline Refinance applicants must demonstrate that there's a Net Tangible Benefit in the refinance; a legitimate reason for refinancing. Loosely, Net Tangible Benefit is defined as reducing the (principal + interest + mortgage insurance) component of the mortgage payment by 5 percent or more. Another allowable Net Tangible Benefit is to refinance from an adjusting ARM into a fixed rate loan. Taking "cash out" to pay bills is not an allowable Net Tangible Benefit.