Good Morning! One of the most common questions I get from borrowers is “How much will I have to put down to get a mortgage?” Here are your minimum down payment options on the loan products currently available in the market place. Loan Programs… VA loan: No down payment necessary. No monthly MI. This is…
Good Morning! Have you ever wondered how credit affects your mortgage payment? Most people know your credit affects the rate you get on your loan. …and, your credit can even effect the amount you pay for Home Owners Insurance. However, there is another part of your payment that your credit also effects. …Your mortgage insurance…
Good Morning! Did you know we have a Conventional loan product with just 3% down? …and, you only need a 620 credit score to get it. It’s a great product to use when purchasing a home! One thing to keep in mind on this program is the maximum seller help (with closing costs and prepaids)…
Good morning No mortgage talk for today… They say the average person can only remember about 7 things in short term memory at any one time. Once number 8 comes in something drops off the back and you forget about it. That’s when your eyes pop open in bed at night when you remember the…
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 wanting to purchase a home, but you aren’t able to qualify now – here’s what you need to do… 1) Isolate the reason you can’t get a mortgage now. (We can do this for you). 2) Make a plan to solve this problem. If credit is the reason you can’t…
Good Morning! Hope you are well! The real estate market (at least in most areas of Texas) is slowing down a bit. Property is not appreciating quite like it was. Homes are sitting on the market longer, etc. In this market you need every advantage you can get as a buyer. If you are thinking…
Good Morning! This may sound funny coming from a mortgage guy, but sometimes it’s not necessary to refinance your mortgage to reduce the number of years left on your mortgage. I have to tell people sometimes that it just doesn’t make sense to refinance. The drop in rate isn’t significant enough to warrant the costs…
Good Morning! Did you know we have a One Time Close program with our VA loans? …We do! One Time Close (OTC) is a program that allows you to buy land and build a house all in one transaction. …Only one close for everything in other words. …So, if you are a veteran and want…
Good Morning! I want to show you how to roll repairs into a purchase price. I touch on this subject from time to time. If you are buying a house that needs minor repairs – but the seller refuses to do them – what do you do? This situation happens a lot, especially on bank…