Need To Qualify For More?

Directors Mortgage has the solution! Fannie Mae’s HomeReady loan program is designed to help you realize your dream of homeownership with guidelines specifically created to help you qualify!  Some of the highlights include:

  • Only 3% down payment required – even better, the entire down payment (and closing costs) can come from a gift or grant!
  • You do not need to be a first time home buyer to qualify!
  • Unique income sources (boarder income, non-borrowing household member income, and rent from an ADU) can allow for greater purchasing power!
  • Reduced mortgage insurance applies when you put less than 10% down, which will result in a cheaper overall payment!
  • Rates can be as good or better than normal conforming rates depending on your down payment and credit score!

Income limits may apply; contact your Directors Mortgage Senior Mortgage Specialist to help you get started. Don't have one yet? Find our closest office to you!

Join Directors Mortgage In Our Support of Jackie Wiles' Pursuit of Gold!

Chris Egan, KING 11:18 AM. PDT May 18, 2017

The countdown is on: Just 267 days before the Winter Olympics in PyeongChang, South Korea begin.

There are several northwest athletes with good chances to represent the U.S. in the Winter Games. U.S. Alpine Ski Team member and two-time U.S. Downhill champion Jacqueline Wiles is hoping to compete in her second Olympics.

Wiles, 24, who went to Canby High School and now lives in West Linn, stood on her first career World Cup podium in January in Austria.

The two-time U.S. national downhill champ who competed at the 2014 Olympics started skiing when she was 2 years old and racing when she was 5 years old.

"I think I love skiing so much, because you get that feeling of going fast and feeling the wind in your face, and you have that free-flowing feeling, " said Wiles.

Wiles grew up skiing at Mount Hood, but when she was 15, she decided she needed a change, so she started training at White Pass.

"Sometimes you need to change the stimulus, have other coaches, something is not clicking, have that self-audit and realize I need to make a change," said Wiles.

And it's at White Pass where Wiles would meet ski coaches Kevin McDevitt and Matt Morrell.

"She was lightning fast, greasy fast, and maybe didn't have all the skills put together yet, and that was a battle for her and us, but she put the time in," said Morrell.

Wiles' career was taking off, but McDevitt said she needed to take one more step before being able to ski with the best in the world.

"You have to get in the gym. You have to become a bigger, stronger, athlete, because everybody is a good skier at your level, so if you want to move up, you got to get stronger and want it,” said McDevitt.

While her coaches at White Pass believed, Wiles still had her doubters.

"I had a couple coaches on the national team tell me I wasn't going to make (it), and I didn't listen to them, but I knew my dream and knew I could make it if I wanted it,"  said Wiles. "Believe in yourself and work hard, and if you have those two things, you can do anything."

© 2017 KING-TV

Fannie Mae Introduces Innovative Solutions for Borrowers with Student Loan Debt

Innovations Help Borrowers Pay Down Student Debt and Overcome Debt Related Obstacles When Buying a Home

Aleksandrs Rozens


WASHINGTON, DC – Fannie Mae (FNMA/OTC) announced new policies that will help more borrowers with student debt qualify for a home loan. These innovations address challenges and obstacles to homeownership due to a significant increase in student loan debt over the past decade and provide access to credit for qualified borrowers. The new solutions give homeowners the opportunity to pay down student debt with a mortgage refinance, allow borrowers to exclude non-mortgage debt paid by others as part of the loan application process, and make it more likely for borrowers with student debt to qualify for a mortgage loan by allowing lenders to accept student debt payments included on credit reports.

“We understand the significant role that a monthly student loan payment plays in a potential home buyer’s consideration to take on a mortgage, and we want to be a part of the solution,” said Jonathan Lawless, Vice President of Customer Solutions, Fannie Mae. “These new policies provide three flexible payment solutions to future and current homeowners and, in turn, allow lenders to serve more borrowers.”

Innovative Solutions for Making Homeownership Affordable for Borrowers with Student Debt 
Because there is rarely a “one size fits all” approach to this issue, the policies announced provide options to borrowers based on their individual circumstances:

  • Student Loan Cash-Out Refinance: Offers homeowners the flexibility to pay off high interest rate student debt while potentially refinancing to a lower mortgage interest rate.
  • Debt Paid by Others: Widens borrower eligibility to qualify for a home loan by excluding from the borrower’s debt-to-income ratio non-mortgage debt, such as credit cards, auto loans, and student loans, paid by someone else.
  • Student Debt Payment Calculation: Makes it more likely for borrowers with student debt to qualify for a loan by allowing lenders to accept student loan payment information on credit reports.


Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit and follow us on

- See more at:

An FHA Loan Might Be the Product For You!

Directors Mortgage offers the Federal Housing Administration Loan (FHA) to our clients who may want a low down payment option with with flexible mortgage guidelines. The features of the FHA Loan include: 

  • Borrowers can purchase a home with ad own payment of as little as 3.5%
    • Zero out-of-pocket funds for down payment possible, using gifts/down payment assistance programs
  • Easier to use gifts for down payment and closing costs than with other loans
  • Flexible qualifying ratios means that you can buy more home
  • May be assumable by the buyer, if approved by the mortgage servicer
  • FHA offer leniency for borrowers with less than perfect credit
  • NEW! County loan limits have been increased!
  • Great option for first-time homebuyers or those looking to refinance
  • Federally insured to help borrowers purchase a home they would not otherwise be able to afford!

Ready to get the process started and get into your new home? Find the office nearest to you and contact us today!

Common VA Loan Myths

VA Appraisals take over a month.
Directors Mortgage just got a VA appraisal back in 6 days!
Note: each county/city has different VA appraisal turn times, however, a significant increase has been seen in most areas.

I only have one chance to use my VA loan.
Veterans can use their benefit multiple times throughout their life. Actually, there’s no limit!

I can only have one VA loan at time.
Veterans who currently have a VA loan may still have "remaining entitlement" to use for another VA loan. The VA does allow veterans to have two VA Loans at the same time, as long as the max entitlement is not exceeded.

VA loan benefits expire if they are not used.
No. Your VA entitlement doesn't expire and you can use as many times as you want. Your entitlement never expires. However, your Certificate of Eligibility may need to be renewed. We can help you obtain your current Certificate of Eligibility.

I’m only eligible for a VA loan if I have perfect credit.
VA Loans are more lenient than conventional loans when it comes to your credit history. Generally you’ll need a minimum 620 FICO score.

VA loan appraisals are a nightmare.
The VA appraisal isn’t terribly different from the average conventional appraisal and can go very smoothly, especially if you are pursuing a home in good condition. Each city/county has a different VA appraisal turn time, however we noticed a significant increase in most areas.

I can only use my VA loan to purchase a home.
VA loans can be used to refinance too and up to 100% of the home’s value in some cases!

Using a VA loan is a lengthier process.
There’s a lingering misperception that VA buyers are weighed down by bureaucracy and paperwork. The reality is greater automation and efficiency, and other improvements in recent years have helped the VA Loan Guaranty Program more than keep pace.

All Veterans are guaranteed a VA loan.
In order to qualify for a VA Loan there are specific service conditions each borrower must meet. To see if you meet these minimum requirements contact us for assistance in ordering your Certificate of Eligibility.

Surviving spouses aren’t eligible for the VA loan.
Qualified surviving spouses may be eligible for a VA loan and may be exempt from paying the VA funding fee.

You have to have a down payment to use a VA loan.
The VA loan is one of the few mortgages available that allows for a 0 down payment. Most qualifying service members who purchase within VA loan limits don’t make a down payment.

I can’t get a VA loan if I’ve had a bankruptcy or foreclosure in the past.
You may be eligible for a VA Loan two years after a Chapter 7 bankruptcy discharge; one year after filing a Chapter 13 bankruptcy; and two years following a foreclosure.

Join Directors Mortgage in honoring out Veterans who we waive our $895 underwriting fee for. We would love to serve your next VA buyer!