Tag Archives: Rule of 5

Whacked Out Wednesday – The rule of 5! (FHA effective income guidelines)

#WhackedOutWednesday – The rule of 5 I go over today.  The way’s to use the various forms of income and what’s considered effective income and what’s not.  The “whacked out” part is that many LO’s don’t know how to calculate effective income.  The salary is the salary, the hourly income can vary.  And if it does there’s a rule I go over for this.  The VOE is king.  The paychecks are a supporting document, not what determines income.

The biggest thought is that you need two years for all of the 5 type of incomes.  Bonus, Over-Time, Commission, Self-Employment and Second jobs.  When in reality there’s only one of these that you really need a full two year uninterrupted period of receiving.  Find out more in today’s video! ↓

We go by the guidelines and I’m here to help you structure these deals to get them done.  The rule of 5 is great to know, and every LO out there should know how to calculate the effective income.  To many times there’s just some snag somewhere that the LO didn’t realize.  My goal is to eliminate that with these guideline videos and help all get more loans done.  In fact I encourage you to get on point, with BluePoint! We are a growing National wholesale mortgage bank, we are broker friendly and have several niche’ products.  FHA/VA are for sure sweet spots.  SIGN UP HERE! 

As always I’m here for any – “I gotta guy” questions.

#SellWell

Two for Tuesday – Tips and Tricks

#TwoforTuesday – A trick to remembering how long someone needs to have been receiving income to use it on a FHA loan.  And a tip to add value right now and gain more purchase business.  Short and sweet today.  I got leads to call.  Do you?

NEED LEADS?  Is it COLD there?  No weather pun intended.  What I’ve done over the past two years is lead by example in creating organic presence on various social media platforms.  If you do not know or “like” and “follow” my fan page on Facebook, please do!  Click HERE to See my FAN PAGE!  Technically it’s a hub of resources within it that any Broker or Mortgage LO can use to help #SellThemselves and gain leads for FREE>

In fact, I have a whole program that I do just this with Broker’s and individual LO’s that want to step up their #SOCIALSELLINGGAME!!  I teach how to plan campaigns weekly on social media business pages to allow those that want to take advantage of social media’s reach.  I teach how to set up a page, to how to push and pull your messages into social media land and gain leads FREE on a weekly basis.

Want to gain #theBLUEPRINT to doing so yourself?  Click BELOW ↓

THE BLUEPRINT IS HERE!

#SellWell

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