Loan Limits
2023 Conforming Loan limits
One Unit $726,200.00
Two Unit $929,850.00
Three Unit $1,123,900.00
Four Unit $1,396,800.00
30 days bank Statements
Freddie
Fannie requires:60 days
A place to find each month's birthday list.
Reports
Works up the LCW
LO
This is our team's roadmap to speak to each other and in case someone is not available so it's essential we are all using it. It also is the notes for Molly when you submit a file.
Let's not put all our cards on the table
Waiting to order appraisal
BONUS:
Why we send an approval letter for the specific offer.
FHA loan limits
Portland-Vancouver Metro
1 unit 418750
2 Units 536050
3 Units 648000
4 Units 805300
If credit report payment is zero, use 1% of balance or document IBR or fully amortizing payment.
Fannie
Freddie: If credit report payment is zero, use 0.5% of the balance.
Past repeat clients or someone who has sent you multiple referrals
A+ clients
Permission to order the appraisal
LO speaks to the buyer's agent AND also gets permission from the borrower. We like to get any insight if the RE agent thinks something will come up in inspection
The Mayor Campaign
A base for our messaging lobbying for ourselves.
Bonus:
Where can you find dialogue examples to practice?
Buffini
FHA loan limit Deschutes County
1 unit $447,500.00
2 Units $572,850.00
3 Units $692,450.00
4 Units $860,600.00
Co Borrower Self-Employment loss does NOT have to be deducted when qualifying on the other borrower's income.
Fannie
FREDDIE: Co-borrower self-employment loss must be deducted
Who opened my email?
Marketing/Past communications
Sends the appraisal to the client.
Large Group Mailing -Email or Print
Things that are not counted in CRM dashboard goals
2024 Conforming loan limit- Metro Area
$754,500.00
ADU Rental Income not allowed on subject property unless product is HomeReady
FANNIE
Freddie: * ADU Rental Income allowed on subject 1-unit Primary Residence for a purchase or a "no cash-out" refinance, provided certain requirements are met, including but not limited to: 1) ADU must comply with zoning and land use requirements, 2) Appraisal must support the ADU's marketability and include at least 1 comp with an ADU that is rented (ACE is not allowed), 3) Appraisal must include a minimum of 3 comp rentals that support the market rent of the ADU and at least one of the comp rentals must be a property with an ADU, 4) ADU rental income cannot exceed 30% of the total monthly income, 5) at least 1 qualifying borrower must participate in a landlord education program or have previous landlord experience for a minimum of 1 year (change as of 6/1/2022)
Brian's Podcasts can be found here.
9 dots at the top corner
It's a Good Life
Spotify for free as well
Locking a loan
LO
Gingerbread House Event – December 7th
Summer Ice Cream Social – July 25th
Our Annual Client Appreciation Events
This is for our whole team to invite clients, referral partners and family to. We want them to bring their friends and family that will be needing our great services for a personal introduction.
$750,000.00
What Rocket is accepting now as a conventional loan limit.
If borrower does not have at least 1 year of property management experience, then rental income on a new rental property purchase or conversion of primary can only offset the PITI of the rental property.
BOTH Fannie and Freddie
I can't recall how to add a new relationship, Help!
Go to Help/Videos/Full Coverage
Annual touches
Sends cards.....
Birthday, HomeAversary, LoanAversary
Monthly IOV
Our Touches
1. Voice to Voice, Video Message
2. Personal Notes, text or email
3. PopBy, In Person, Break Bread