Lender friend of mine Roger Gettler with First Community Mortgage provided this update to me and I thought it was worth passing on to you.

The booster second mortgage problem, which provides additional funds to the borrower to cover closing costs, has had a rate increase from 5.75% to 6.00%.This is also a permanent increase so don’t expect the rate on the booster to drop anytime soon.  It shouldn’t affect your borrower’s ability to qualify, primarily because the maximum loan amount for the booster is $8000. As an example, one borrower of mine had his payment increase monthly by $1.20.

After the tax credit is gone MFA may be a great option for those seeking downpayment and/or closing cost assistance. Call me to find out more.  Carlos Martinez 505-350-8184

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New Mexico Mortgage Finance Authority also known as MFA is a home buyer assistance program.  Without getting into to much detail the program assist low to moderate income buyers with housing.  There are income limits but is much more flexible than traditional type of financing.  It is possible to get a loan to cover your down payment and closing cost. Although flexible MFA made the below change. 

Sole and Separate-poor credit for spouse. A sole and separate is to disclaim or relinquish his or her right, title and interest to the property. This establishes that it is the desire of both spouses that title to the property be granted to one spouse as that spouse’s sole and separate property. For example: Lee Buyer, a married man, as his sole and separate…

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Being a real estate professional in today's market requires the use of technology to give great customer service.  For about a year I have used a secure online system called Docusign to allow my clients to sign documents online quickly and easily. Our biggest road block was that FHA did not allow e-signatures for official documents...

Well today that changed! With the issuance of the mortgagee letter we can now make it convenient for all clients to sign online.  This is a huge time saver for everyone and my clients love it.  If you would like to know how signing a document online works give me a call.  I'd love to show you how!

Carlos Martinez

Contact Me

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This is a screamin deal listed at $114,900 1405 Sq Ft. 3 Bedroom, 2 Bath 2 Car Garage. Turn Key home for sale located in the Ladera area of the Northwest Heights Albuquerque.Very good condition with new carpet and appears to have new paint. Bank owned home.Call me today.

 Search Homes now at www.NMWelcomeHome.com

 To schedule a showing just call me at 505-350-8184 or Email Me

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