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…
Good Morning! Here’s an easy way to put down only 3%, pay no upfront Mortgage Insurance, and get a very competitive rate… …It’s Fannie Mae’s 97% purchase product! Here are some of the important features of this product… 1) Owner-occupied primary residence only. 2) Minimum 620 FICO score. 3) 3% down payment. 4) 1-unit attached…
Good Morning! I hope you had a great Labor Day! Did you know when you purchase a home you can ask the seller to help pay your closing costs, prepaid taxes and insurance, and interest? You can! I’ve listed the maximum seller contribution amounts per loan program below… Program: Conventional (fannie/freddie), owner occupied… 1) 25%…
Good Morning! I had a question about Short Sales recently. FHA is most friendly to Short Sales. There are basically two kinds of Short Sales… 1) If more is owed on the home than the home is worth, and it’s impossible to sell the property without the seller bringing money to the table then the…