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…
Do you have investment property, and would like to pull cash out of your property? However, for some reason you can’t provide income documentation to your lender to get a cash out loan. We have solutions! We have loan programs that will allow you to pull cash out of rental property with no income documentation…
Do you need cash out of your home, but you don’t want to refinance the low interest rate first mortgage currently on your home? We have a solution… We can use a HELOC. This is a second mortgage in the form of a line of credit you can draw on as needed. Very easy to…
I wanted to let you know we have a 2% to 5% downpayment and closing cost assistance program called “Homes for Texas Heroes”. If you are in one of the following professions you may qualify for this purchase program: Professional Educators, Which Includes The Following Full-Time Positions In A Public School District: School Teachers, Teacher…
I wanted to give you a brief updated summary of various loan products and the minimum down payment for each… Loan Programs… VA loan: No down payment necessary. No monthly MI. This is the best loan going if you can qualify for it. USDA: No down payment necessary. Low monthly MI. Mainly for rural areas…
There are a few reasons people refinance their homes… – Get Cash Out. – Lower Rate, Or Lower The Number Of Years Remaining On Their Mortgage. – Debt Consolidation. I want to talk about this last one for a moment. Current market rates are higher than they have been in a while, but it can…
I wanted to address the two most common questions that I get regarding reverse mortgages… Question: What happens if I die? Will the lender be taking my house? Answer: No. After You Pass Away, Your Heirs May Pay The Loan Balance In Full With Cash Or By Refinancing The Debt And They Can Keep…
Would you like to buy a nice home in the country or an outlying suburb with no money down? Here’s a program that might work for you… It’s called USDA, and here are some details on this program… -Up to 100% of the Appraised Value – Total LTV of 102% – -Difference of sales…
If you are getting a divorce, and you have to pay your spouse their share of the equity, don’t use a traditional Texas Home Equity loan to do it. Use an Owelty loan to get the cash out of your home instead. The advantage of using an Owelty Loan over a Texas Home Equity loan…
Did you know we have a mortgage program that doesn’t require any income documentation when purchasing an investment property? We do! It’s called a Debt Service Coverage Loan. And, the rent from the property is the only income you need. No tax returns, or pay stubs needed. Down payment on this program ranges from 10%…