News

Let us discuss how Fannie Mae and Freddie Mac have aligned on who can give a Gift of Equity. Fannie Mae allows the donor to be a relative related by blood, a close family friend that is documented, a domestic partner, or an estate or trust of a related person. On the...

In the state of New Jersey, when it comes to omitting a debt that has been assigned to another party, such as in a divorce or separation agreement, there are specific legal considerations to keep in mind. It is important to note that New Jersey does not legally...

Understanding the different calculations used by various mortgage lending agencies is crucial. For example, when it comes to overtime, bonus, and commission incomes, Freddie Mac requires all of these to have a 2-year history and must be averaged out. On the other...

Did you know that child support income can be grossed up for mortgage qualification? It's true! Fannie Mae and Freddie Mac allow child support income to be grossed up by 125% because of its non-taxable status. This means that borrowers can potentially qualify for a...