Monday, March 11, 2013

How Much is Too Much?

We are often asked if someone will be denied for a mortgage because they have too much money in the bank or have too much income.

The only time having too much income or too much assets would be a problem is if someone is trying to get some sort of down payment assistance loan.  Down payment assistance programs are intended for people who really need the money, so they do have income limits.  Most of the down payment assistance programs do not have specific guidelines regarding assets, but if someone has a lot of money in the bank, they probably aren't the best candidate for down payment assistance.

Many people think that loan programs like FHA and VA have income and asset limitations, but they do not.  You can make millions each year and have millions in the bank and still qualify for an FHA or VA loan.

Getting a loan approved is easy - if you know what to do.  The Mortgage Experts know what to do!!!

Make sure you check out our web site:

By the way, don't forget to refinance your current mortgage.  Rates are very, very low right now.  Don't miss out!  Call us today to get the details for your particular situation.

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