Good Morning! Did you know we have a VOE (Verification of Employment) program that is considered full doc? This program is for borrowers that work for a company. You don’t need paystubs, or w-2’s, or tax returns. …we just send a one page form to your employer. They fill it out and that’s all…
Good Morning! The conforming loan limits continue to go up. In Texas the max conforming loan is now $510,400. Not to long ago this used to be a jumbo loan. The advantage of going with a conforming loan is lower rates, and less down payment. And, FHA max loans very by county, but they…
Good Morning! It’s going to be interesting to see if the mortgage industry makes changes to accommodate the impact of being out of work. …in terms of getting new mortgages. When you don’t have a job – it’s hard to pay your bills. When you don’t pay your bills this impacts your credit negatively. So,…
Good Morning! In this money centric world we live in, many people fail to understand one simple thing… Happiness is the true currency of life. I think it’s especially important to remind ourselves of this in this time of Covid-19. Here is a cool short video on the imporance of happiness from Simple Truths…
Good Morning, I have had some people ask me if the current crisis that faces our country has affected my business. The answer is “yes” so far. I lost a loan the other day because the buyer backed out. He was concerned about his job. I also lost a couple of Alt Doc loans last…
Good Morning! If you are looking for a home in the outter suburbs or in a rural area make sure your realtor knows about this great USDA 100% financing program. -Up to 100% of the Appraised Value – Total LTV of 102% – -No Down Payment Required -No Cash Reserve Requirement. No cash contribution requirement…
Good Morning! FYI – If you have a loan in process right now appraisals are taking longer due to delays from the Corona Virus. Keep this in mind, and discuss timelines with your loan officer. Fannie Mae is considering the use of Exterior Only Appraisals in situations where going inside the house is impossible for…
Good Morning! I want to attempt to clear up a common misconception… You can’t get that new 0% mortgage rate you heard about. I’m afraid you won’t be able to find that in the mortgage market. That’s the Fed Funds Rate. It applies to overnight loans between the biggest financial institutions in the US. …
Good Morning! I have people ask me about no-cost refinances. I wanted to take a minute and tell you exactly how a no-cost refinance works. There are two pools of funds you have to address when you refinance… 1) Closing costs. 2) Pre paids. (taxes, interest, and insurance) A no-cost refinance will cover your closing…
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…