The Carey Team

09/02/2026

Your credit is the most important pillar of the home home buying process, so good credit is paramount to closing on a new home. Your chances of closing on a new home with a credit score below 620 are about 30%. Under 600 and the chances drop significantly. Here are some recommendations to build your scores if needed.
⭐️Pay your bills as agreed. Late payments are detrimental to your scores, and should always be paid as agreed.
⭐️keep your credit balances at 30% or less than your available credit. Credit utilization is critical and when balances become higher than 5o% of available credit your scores will be challenged.
⭐️Monitor your credit scores with consumer based models. Take responsibility and personal accountability.
⭐️if you are challenged by life events document and communicate with creditors. It helps.
Low scores equal low opportunities. Don’t let your scores dictate your future.
Mike Carey
Lower Mortgage
901-619-3665

09/02/2026

Changed it up today with this simple complex, not! Changing up your fitness routine matters because the body is an adaptation machine. It gets very good at whatever you repeatedly ask it to do—and then it stops changing much. That is why I’ve incorporated biking, running intervals, and some calisthenics. Change is good!

09/02/2026

3 VA Benefits People Don’t Talk About Enough

Everyone talks about 0% down and no monthly PMI with a VA loan.

But what about what happens AFTER you buy the house?

Here are 3 reasons I think Veterans should think twice before being talked OUT of using their VA benefit:

🏠 1️⃣ VA LOANS ARE ASSUMABLE

What if home values decline someday?

What if mortgage rates stay high—or go even higher?

A VA loan can potentially be sold with the house through a VA loan assumption.

Imagine having a 5% VA mortgage when market rates are 8%.

That assumable loan could become a HUGE selling advantage because a qualified buyer may be able to take over the existing VA loan and its rate.

The benefit you choose TODAY could make your home easier to sell YEARS from now.

📉 2️⃣ VA HAS ONE OF THE EASIEST REFINANCE OPTIONS IN AMERICA

It’s called the VA IRRRL — Interest Rate Reduction Refinance Loan.

When rates eventually improve, an eligible Veteran with an existing VA loan may be able to refinance with:

✅ No appraisal required by VA
✅ No traditional income verification required by VA
✅ Streamlined documentation
✅ A focus on your mortgage payment history and VA’s IRRRL requirements

Think about that.

If home values drop, you don’t necessarily have to prove your house went UP in value.

And you generally aren’t requalifying for the mortgage the same way you did when you originally purchased the home.

That can be an INCREDIBLE future benefit.

💔 3️⃣ IRRRLs CAN PROVIDE FLEXIBILITY WHEN BORROWERS NEED TO CHANGE

Life happens.

Marriage. Divorce. Death of a spouse. Changes in who needs to remain obligated on the mortgage.

VA IRRRL guidelines provide options in certain circumstances to add or remove borrowers, including certain situations involving divorce.

That flexibility might mean very little to you on closing day.

Years later? It could mean EVERYTHING.

09/01/2026

In honor of The Tide’s season opener this Saturday. A little flashback of last year’s opener. Roll Tide!

09/01/2026

The U.S. credit card issuing industry generated an estimated $178.6 billion in revenue in 2025. 
The four largest U.S. issuers (JPMorgan Chase, American Express, Capital One, and Citigroup) together collected about $146 billion in credit-card revenue in 2025, up 7% from 2024.  For example, if you have $10k@ 24% APR in CC debt and you and you make just the minimum payment each month, it will take 25 years to pay it off. Guess what the credit card company made over that time, $19k off your $10k borrowed. Get out of debt today, call The Carey Team.
Mike Carey
Lower Mortgage
901-619-3665

09/01/2026

Damn, I can’t keep up with everything my wife does! She is awesome! I appreciate you baby girl!

08/31/2026

Some of the best moments in the NFL. The Spit heard round the World!

08/29/2026

5.0 star review received on Experience.com for Mike Carey by Denise C - The process went very smoothly.

Click to see all 293 reviews of Mike Carey, Area Sales Manager | NMLS # 384158

08/28/2026

Everyday I try to spend 30 minutes or more making myself better. This morning I rucked 40 minutes wearing a 40lb vest. While I spend that time, i usually listen to an audiobook or pod cast. I only listen to music when I run. You see when I run, I need the energy. Have a great Friday, and remember, thank a veteran today for their Service.
Friday

08/26/2026

VA TIP OF THE DAY — BIG VA LOAN GUIDELINE CHANGE!

This is a HUGE win for Veterans with collection accounts.

As of the latest VA Pamphlet 26-7, Chapter 4 update, VA has changed how non-medical collections are calculated for qualifying.

Previously, lenders could be required to use 5% of the outstanding collection balance as a MONTHLY payment.

🔥 THE NEW CALCULATION:

5% of the outstanding non-medical collection balance ÷ 12 months

That is a MASSIVE difference.

💰 Example: $10,000 in collections

OLD calculation:
$10,000 × 5% = $500/month

NEW calculation:
$10,000 × 5% ÷ 12 = about $42/month

That’s $458 LESS per month being considered in the qualification!

For a Veteran who was previously struggling with DTI or residual income, this change could absolutely help them qualify.

And remember:

✅ Medical collections do NOT require a monthly payment to be counted.

⚠️ BUT HERE’S THE PART NOBODY IS TALKING ABOUT...

A lower collection payment absolutely helps with the numbers, but it doesn’t automatically make the credit history acceptable.

If a Veteran has major collection accounts within the most recent 12 months, those accounts may still create a significant challenge when trying to obtain a VA manual underwriting approval.

The math may work now. The credit history still has to make sense.

On the other hand, if you’re a Veteran who was previously told NO because of collections — especially if those major collections are now more than 12 months old — it may be time to have your VA loan reviewed again by a lender who actually understands VA manual underwriting.

Veterans: If you’ve been told you can’t qualify because of collections, don’t assume that’s the end of the story. Find a GOOD VA lender who understands manual underwriting