Burt Lending Group

04/29/2026

Nothing like getting a veteran CTC with time to spare!

10/20/2025

Looking for a home near downtown Raleigh offering lender credit! Look no further than this listing from Jenny Hensley!

Renovated one-level home in walkable downtown Raleigh featuring vaulted ceilings, a custom kitchen, and a private backyard patio for easy indoor-outdoor living. Thoughtfully updated throughout, this painted brick home blends classic charm with modern comfort. Inside, hardwood floors connect open liv...

10/15/2025

Closing Costs — What You’re Really Paying For

Let’s break down what “closing costs” actually mean:

Hard Costs: lender fees, discount points, attorney, title, appraisal, etc. Usually Broken down into 3 categories:
🔹Lender fees: underwriting and discount points
🔹Third Party Fees you Cannot Shop For (appraisal, credit, verifications, etc.)
🔹Third Party Fees you Can Shop For (attorney, title)

Prepaids & Escrows:
🔹Homeowner’s insurance: 12 months + 3 months reserves (you choose your insurer)
🔹Property taxes: lenders collect enough between closing and your monthly payments so they’ll have about 14 months set aside when your next bill is due
🔹Prepaid interest: depends on what day of the month you close. Needs to cover daily interest from the day you close to the end of the month.

Estimated total closing costs: currently in NC, they are typically between 2% and 5%

If your lender is not breaking this down for you when they are preapproving you, give me a call. Clear numbers. No surprises. That’s how it should be.

Sincerely,
Your friendly neighborhood mortgage guy

10/09/2025

Remember these insider tips about the IRRRL (Interest Rate Reduction Refinance Loan) as the market continues to soften:

• Does Not require an appraisal
• Does Not require income documentation
• Done with a mortgage only credit report
• Uses the existing VA entitlement; we do not need to analyze entitlement for this loan
• We can roll in escrows
• Can be done on a property that has been converted to an investment property
• Has a reduced funding fee of .5%
• Requires a .5% drop in interest rate
• Has a 210 day seasoning from the first payment date to the new loan close date
• Requires a

10/01/2025

Refinance timelines vary depending on the loan program:

Conventional (Fannie/Freddie)
🔹 Rate/Term: no wait, can refinance right away.
🔹 Cash-Out: must own 6 months (exceptions for inheritance or delayed financing).

FHA
🔹 Rate/Term or Streamline: 210 days from funding with 6 on time payments made.
🔹 Cash-Out: must live in the home for 12 months.

VA
🔹 Streamline (IRRRL): 210 day from funding with 6 on time payments made.
🔹 Cash-Out: usually follows the same 210-day/6-payment guideline.

USDA
🔹 12 months of on-time payments for any refi.
🔹 No cash-out allowed.

Knowing the seasoning rules upfront helps you time your refinance strategy the right way.

Sincerely,
Your friendly neighborhood mortgage guy

09/29/2025

When it comes to paying discount points on a refinance, there isn’t a one-size-fits-all answer.

Option 1: Pay points now, bring your rate down to where experts project the bottom of the market will be, and start saving immediately. If rates do reach that level, you’re already there and don’t need to refinance again.

Option 2: Hold off, and if rates do fall as expected, refinance then and pay points to push your rate even lower. This approach carries the risk of waiting, but could pay off if projections are right.

Secret Option 3 (not mentioned in the video): Refinance now without paying points, enjoy the savings today, and if rates do drop further, refinance again with points at that time.

Each path has tradeoffs; it comes down to whether you value certainty today or are comfortable betting on where the market may go.

Sincerely,
Your friendly neighborhood mortgage guy

09/18/2025

Thinking about refinancing? It’s not just about chasing a lower rate, it’s about knowing when the numbers actually make sense.

Here’s my rule of thumb for rate/term refinances:
🏡 Loans under $350k → wait for about a 1% drop
🏡 $350k–$806,500 → wait for about a 0.75% drop
🏡 $806,500+ → wait for about a 0.5% drop

This doesn’t mean refinance right away. It means that’s the point where it’s worth running the numbers and seeing if it benefits you.

Every situation is different, so it’s always best to look at the bigger picture

Sincerely,
Your friendly neighborhood mortgage guy

09/17/2025

Straight from VA 26-7, Chapter 4, Page 8 (yes, we actually read that stuff):
“A borrower may have a valid offer of employment which will begin at or after the anticipated date of closing which can be verified. All data pertinent to underwriting procedures should be considered. However, a paystub(s) may not be available.”

Here’s how it plays out in real life:
- An employment offer letter can save the day when paystubs don’t exist yet.
- Underwriters & investors will inspect the letter for any contingencies
- Previous work history, training, and education help prove income stability.
- And most VA investors prefer that start date to be within 60 days of closing.

Yes, we’ve pulled this off before, even when the job start date was after loan funding.

So if your client is gearing up for a new job but ready to move in now, don’t make them wait! Give me a call

Sincerely,
Your friendly neighborhood mortgage guy

09/04/2025

I like to call this “Demystifying the Appraisal”

This is a good one to know.

From everyone’s favorite read, the VA 26-7, Ch. 12, Sec. 14:
“Since the appraiser does not perform any operational checks of mechanical systems or appliances, the utilities are not required to be turned on when the appraiser visits the property”

Friends, there is no VA “Inspector” or VA “Inspection.” The appraiser is there to determine value. Not to be a home inspector.

Yes they may see or not an exposed wire, or call out another MPR (minimum property requirement), but we rarely/almost never see a MPR jeopardize a transaction

Please make sure you do not confuse the VA appraisal with a home inspection

Sincerely,
Your friendly neighborhood mortgage guy