The credit score on your credit card app isn’t what lenders use. For years lenders used Classic FICO versions which often don’t give the full picture of how someone handles their money. The good news is that lenders selling Conventional loans to Fannie and Freddie can now use Classic FICO or VantageScore 4.0 scores. Since VantageScore factors in rent and utility payments, that may help someone get approved for a mortgage that was previously denied. If that happened to you, now might be your chance to try again.

Basing your entire lender decision on who offers the lowest rate makes sense on the surface. But there is a lot more to lending than the number on a quote. Rates change daily... they even change during the day, and until you're under contract and actually locking, a lender can put whatever they want on that quote. Some do. There's also the question of discount points: a lower rate in paper might just mean higher upfront costs. Sometimes buying down your rate makes sense, and sometimes it doesn't... It depends on what you're paying upfront versus what you're saving each month and how long it takes to break even. The rate is a starting point, but it's not the whole point when choosing a lender.  Rebecca Richardson | NMLS# 91445 Powered by Mpire Financial | NMLS# 2108504

Until 1974, women in America couldn't get their own credit card or manage their own credit independently. Now single female homebuyers outnumber single male homebuyers. That's what happens when women have access to their own financial lives and decide to build something with it. Homeownership is one of the most reliable ways to build long-term wealth, and it's more available than most women think it is. Rebecca Richardson | NMLS# 91445 Powered by Mpire Financial | NMLS# 2108504

Welcome to the New American Dream! If you are feeling overwhelmed by high home prices and rising interest rates, you are not alone. I'm Rebecca Richardson, aka The Mortgage Mentor, and I've been a loan officer for over 25 years. In this first-time home buyer masterclass, I am breaking down the mortgage approval process into bite-sized pieces so you can turn your dream of homeownership into a reality. We will cover the three main factors every lender looks at: Credit, Income, and Assets. You will learn the actual minimum credit scores required for Conventional, FHA, VA, and USDA loans. We also bust the myth that you need a strict two-year job history, explain how student loan payments impact your debt-to-income ratio, and reveal how you can buy a home with as little as 3% down! 🏠 Useful Resources 🏠 → https://www.rebeccarichardsonmortgage.com/resources 📱 Book a FREE 15-min call! 📱 → https://calendly.com/rebeccarichardson/15min 👀 POPULAR PLAYLISTS 👀 Choosing a Lender → https://bit.ly/33iGNo1 The Loan Process → https://bit.ly/33jkVJ3 Choosing a Mortgage Strategy → https://bit.ly/3uNSe2q Shopping Your Loan → https://bit.ly/3LuQp04 Homebuyer FAQs (Shorts) → https://bit.ly/3sAyvAj First Time Home Buyers → https://bit.ly/3gEbx61 Separation & Divorce → https://bit.ly/3Luv6Md 🏡 MUST WATCH Videos 🏡 Starting the Loan Process → https://youtu.be/aiPIcCSQdIU What Documents Do You Need? → https://youtu.be/lb6Tx_XNVYs How to Make a Strong Offer → https://youtu.be/zceO2RiFKkc Preapproved for a Payment, Not a Price → https://youtu.be/SzZ77D9Px4g How Mortgage Rates Work → https://youtu.be/MqfhHOJ5Ti0 💥 Follow me on Social Media 💥 → Tiktok: https://bit.ly/34VUTMB → Instagram: https://bit.ly/3rLy5rS → LinkedIn: https://bit.ly/3oJLuyq _________________________________ As The Mortgage Mentor, I'm here to help translate industry jargon into everyday language so you can confidently choose a mortgage strategy that saves you time and money. Rebecca Richardson, AMP Mortgage Loan Officer team@themortgagementor.co NMLS #91445

Trust but verify. Especially when it comes to moving money around. A friend's client wired their closing funds to the wrong account. Someone hacked into the email chain and sent fake wiring instructions, so the money went to a hacker's account instead of the title company. Most of the time when that happens, it's gone. It doesn't happen often. But the odds are never zero, and one phone call is the difference between closing and a very expensive mistake. Before you wire anything for closing, call the title company directly and confirm the routing and account numbers out loud. Don't reply to the email. Pick up the phone. Rebecca Richardson | NMLS# 91445 Powered by Mpire Financial | NMLS# 2108504

VA loans and student loans in the same sentence tend to make people nervous. It doesn't have to. Here's how it actually works. If your student loan is in repayment or will be within 12 months, the lender takes your loan balance, multiplies it by 5%, and divides by 12 to get a qualifying payment. If you can document that payments won't begin until 12 months or more after closing, we don't have to count it at all. If a payment shows on your credit report, we use that number or the 5% calculation, whichever is greater. And if your loan servicer can provide proof that your actual payment is lower, we can use that instead. It's more flexible than most people assume. Worth a conversation before you decide you don't qualify. Rebecca Richardson | NMLS# 91445 Powered by Mpire Financial | NMLS# 2108504

Buying a house during divorce is possible more often than people think, but a few things decide whether you can get approved before it's final. In this video I break down what lenders check when you're buying a house during divorce, from the old mortgage to your income to your spouse's signature. If you're separated or mid-divorce and want your own place, you've probably been told to wait. Sometimes that's right, and sometimes it costs you a home you could have bought now. I'll walk through the three things that decide it, and the point where you need your attorney instead of your lender. 🏠 Useful Resources 🏠 → https://www.rebeccarichardsonmortgage.com/resources 📱 Book a FREE 15-min call! 📱 → https://calendly.com/rebeccarichardson/15min 👀 POPULAR PLAYLISTS 👀 Choosing a Lender → https://bit.ly/33iGNo1 The Loan Process → https://bit.ly/33jkVJ3 Choosing a Mortgage Strategy → https://bit.ly/3uNSe2q Shopping Your Loan → https://bit.ly/3LuQp04 Homebuyer FAQs (Shorts) → https://bit.ly/3sAyvAj First Time Home Buyers → https://bit.ly/3gEbx61 Separation & Divorce → https://bit.ly/3Luv6Md 🏡 MUST WATCH Videos 🏡 Starting the Loan Process → https://youtu.be/aiPIcCSQdIU What Documents Do You Need? → https://youtu.be/lb6Tx_XNVYs How to Make a Strong Offer → https://youtu.be/zceO2RiFKkc Preapproved for a Payment, Not a Price → https://youtu.be/SzZ77D9Px4g How Mortgage Rates Work → https://youtu.be/MqfhHOJ5Ti0 💥 Follow me on Social Media 💥 → Tiktok: https://bit.ly/34VUTMB → Instagram: https://bit.ly/3rLy5rS → LinkedIn: https://bit.ly/3oJLuyq _________________________________ As The Mortgage Mentor, I'm here to help translate industry jargon into everyday language so you can confidently choose a mortgage strategy that saves you time and money. Rebecca Richardson, AMP Mortgage Loan Officer team@themortgagementor.co NMLS #91445

Divorce lending is personal to me. I've been in your shoes. I know what it feels like to be figuring out your finances while everything else in your life feels uncertain, so when I work on these loans, it's never just about the numbers. There's usually a unique strategy involved or strategic timing, especially when negotiations are still happening. Having options matters more than people realize, financially and at the negotiating table. Rebecca Richardson | NMLS# 91445 Powered by Mpire Financial | NMLS# 2108504

Buying a home starts long before you talk to a lender or a realtor. Most people think the first step is finding the right house, but the first step is figuring out what actually fits your life.  Start with a budget that feels comfortable, not just a payment you technically qualify for. Build in an emergency fund too. Life has a way of happening when you least expect it. Having a plan before you start looking gives you more options and a lot less stress. If buying is on your radar this year, reach out. I'd love to help you figure out what makes sense for you. Rebecca Richardson | NMLS# 91445 Powered by Mpire Financial | NMLS# 2108504

Forget ChatGPT... I went straight to the experts. Turns out they give surprisingly solid mortgage advice between naps. Rebecca Richardson | NMLS# 91445 Powered by Mpire Financial | NMLS# 2108504

Twenty years in this business, and I still haven't seen it all.  Every closing is different, and this one took an unexpected turn... Rebecca Richardson | NMLS# 91445 Powered by Mpire Financial | NMLS# 2108504 #LenderHumor #StoryTime #LoanOfficerLife #NameChanges

After a divorce, everything changes, and sometimes what to do about your home can feel the most overwhelming.  Income during and after the divorce can get tricky: child support and alimony count as income, but depending on the loan type, you generally need 3-6 months of documented deposits before we can use it. If you're going back to work, hourly or salary income is usually straightforward, but commissions require a longer history, which can affect timing. On top of all of that, the timelines laid out in the divorce decree add even more pressure. Most situations have more options than most people expect, and usually one conversation is all it takes to figure out what's actually possible. When you're ready, I'm here to help.  Rebecca Richardson | NMLS# 91445 Powered by Mpire Financial | NMLS# 2108504