Hello! With the appreciation we have seen in Texas if you have credit card debt it’s a good time to consider a consolidation loan. For instance, if you have $20,000 in credit card debt your monthly payment on that could be between $400 and $800, depending on the minimum payment your credit card company requires.…
Good Morning! Have you ever wondered how long you have to wait to get a loan after a bankruptcy? 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:…
Good Morning! If you have a 1099 job (they don’t take taxes out of your check), and for some reason you can’t submit tax returns to get a mortgage – there is hope. We have a 1099 program. You just submit your last two years of 1099s, and we can do a loan from this…
Good Morning! If you are getting a divorce, and you have to pay your spouse their share of the equity of your home 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…
Good Morning! If you are considering buying a house from a family member I have something for you. I just put up a video on my Youtube channel of how to structure a purchase / sale transaction with a family member. It’s a unique transaction, and this video shows you how to take advantage of…
Good Morning! If you have an FHA loan that means your mortgage insurance is permanent. It will always be part of your payment. The way property has appreciated in the past year – it’s probably a good idea to see if you have 20% equity in your house. If you feel you have a 20%…
Good Morning! I had this situation come up again last week, and I wanted to address it again with you… Did you realize that when buying a house from an immediate family member – the buyer doesn’t have to come out of pocket for a down payment? (As long as it’s an owner occupied residence…
Here are two quick credit tips for you… 1) 30% of your score is made up of the ratio between your available credit vs your actual balances on revolving credit accounts (like credit cards). You don’t want to charge these accounts over 50% of the available balance, and it’s even better if you can keep…
Good Morning! It’s very hard to get a Conventional loan approved with a debt to income ratio higher than 45%. I wanted to give you one little trick you can use to help out with your debt to income ratio. …Use lender paid mortgage insurance – have your mortgage lender pay your mortgage insurance in…
Good Morning! I get asked about how a no cost refinance works sometimes. So, I made a video for you to show you exactly how it works. Here ya go… https://youtu.be/17odpcsyGGA That’s it for today! Thanks for reading! Brett Get Pre Approved For A Loan Here My Previous Blog