Believe it or not we are seeing rates as low as in the mid 5’s on a face rate for FHA now. So, if you have been waiting for lower rates to jump in and buy a house, they are lower now. It’s also a good time to buy before the market is flooded with…
If you pay your property taxes apart from your mortgage payment, and you didn’t get them paid by then end of January they are now considered late with the county. There are two issues I see every year with regard to property taxes. …Issues that put people in tough spots. 1) Some people just don’t…
If you purchased a home using your own cash, and now would like to pull your cash back out – we can do that. This type of loan is called ‘delayed financing’. …and, you can get your cash back out of the house. In fact, we do these types of cash out loans up to…
If you receive money from the State or a County sponsored organization for providing foster care for children you can use this money as income to get a mortgage. Foster care income is considered acceptable stable income as long as the borrower has a 2 year history of providing foster care services. To prove this…
Are you planning to use a gift for the down payment or closing costs when using a Conventional Loan? Not just anyone can give you a gift. Here is the list of acceptable donors that can give you a gift… Relative, defined as the borrower’s spouse, child or other dependent, or by any other individual…
FHA loan limits are going up for case numbers after 1/1/24. For Texas Metro Areas, the limits are higher: DFW – $563,500 Austin – $571,550 San Antonio – $557,750 In other good news – rates are continuing to trickle down! Have a great day today! Thanks for reading! Brett Get Pre…
Part of the fun of being in the mortgage business is that we get to help people. Buying or refinancing houses, we help people, and we create relationships with our clients along the way that we cherish. Many of them use us again and again. Here is what just some of our clients have to…
I hope you had a great Thanksgiving holiday! I wanted to let you know how the major mortgage programs treat Chapter 7 bankruptcy… FHA: 2 years from discharge date, but not less than 12 months w/extenuating circumstances. VA: 2 years from completion date. USDA: 3 years from discharge date. Fannie Mae: 4 years from discharge…
Most Down Payment Assistance is tied to your income. If you make too much money you don’t qualify for the Down Payment Assistance. Not this one. It doesn’t matter how much you make. So, if you have at least a 580 credit score, and you have been working for the last two years, you may…
If you have a conventional loan, and your loan to value ratio is over 80% – you will be paying monthly mortgage insurance to the lender. No one likes paying monthly mortgage insurance. It’s extra money added to your payment every month, and it doesn’t help pay down the balance of the loan. If you…