Remember, there are two important changes about to happen January 1st. 1) Changes to the Texas Cash Out Loans. …biggest change – if you have a Texas Cash Out loan on your property you can now refinance it back into another type of loan. This was not allowed prior to January 1st. 2) Maximum Conventional…
In spite of the fed increasing their funds rate yesterday the mortgage rate market actually went lower. The inflation news also contributed to the rates going lower. This may seem counter intuitive, but the Feds rate is a short term funds rate. Short term rates can often move in one direction while long term rates…
I hope you are having a good December! I just got back from Aruba with my wife. Everyone we met on that island had a smile on their face and was happy. …they’ve got it figured out in Aruba. If you rent from an individual (no apartment complex or management company) – you must PROVE…
I wanted to let you know that Fannie Mae loan limits for conforming loans are going up to $453,100 in 2018. This is good news for all of us. …Conforming rates are lower than Jumbos, and easier to qualify for. That’s it for today! Have a good day! …and thanks for reading. Brett Get Pre…
Can you be too old to apply for a mortgage? …No. Even if you are 90 years old, and you are applying for a 30 year mortgage you are treated the same as a 30 year old. It’s against the law for mortgage companies to discriminate against a mortgage applicant for being older. That’s it…
Hope you had a great Thanksgiving Holiday! Property tax bills are out in Texas. There are two issues I see every year with regard to property taxes. …Issues that put people in tough spots. 1) Some people just don’t have the money saved up to pay their property taxes. …They might have had the money,…
Happy Thanksgiving Week! If you are considering paying off or paying down an account in an attempt to improve your credit scores – you should really consider using our “what if” program. It can save you time and money – and give you a valuable insight on the impact of paying off or paying down…
There was recently an amendment passed to the Texas Home Equity Laws. (also called A6 loans) Previously once you put a Texas Cash Out Loan on your home any subsequent loan you get on your home would also have to be classified as a Texas Cash Out Loan. …which limits your loan options for refinacing.…
When you give someone option money at the onset of a lease option agreement – you are going to have to prove you gave that money when you get a loan to buy that house. How do you prove it? If it’s certified funds you need to keep a copy of the certified check. If…
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? Here are the maximum seller contribution amounts per loan program below… Program: Conventional (fannie/freddie), owner occupied… 1) 25% or more down payment = 9% allowed seller contribution. 2) Less than…