Good Morning! Just got back from taking the family to the Caribbean for a week. We had a great time. This is us… I’m the bald one in case you were having trouble figuring that out. I hope you were (or are going to be) able to make some good memories with your families…
Good Morning! Real quick… Wanted to highlight an unusual product we have. We can go up to 95% LTV with no MI to 1.5 million dollars. This is on Purchase or Refinance. This is unusual to have such a high loan to value ratio on a super jumbo loan. …just in case you need one!…
Good morning! When is it best to roll closing costs into a refinance loan? Keep in mind there are three ways to handle closing costs on a refinance loan… 1) The borrower can pay them out of their pocket at closing.2) The mortgage company can pay them by charging a higher rate.3) We can keep…
Good Morning!Christmas is almost here!You have my best wishes for you and your family.I’m a sucker for inspirational stories. …and, I love books from Simpletruths.comHere’s a short two minute video about giving called “The secret to living is giving.”I’ll admit it brings a tear to my eye when I watch it. …but, it’ll put you…
Good morning!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 it was…
Good Morning!I wanted to give you the basic waiting periods for Bankruptcies, Foreclosures, and Deed in Lieu and Short Sales for FHA and Conventional loans.Waiting periods for FHA:Bankruptcies: 2 years. …Note, if there was a mortgage included in the BK, you need to determine when the property was subsequently foreclosed to make sure the loan…
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! 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? It’s true! I’ve listed 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.…
Good Morning! I’ve written about this before, but I think it’s a good idea to touch on it again… If you need financing to purchase a home in the country I would recommend you consider using USDA, FHA, or VA. The reason I didn’t mention conventional is that a conventional loan generally will have more…
Let me know if you need help with this… It’s been a while since I’ve listed the max FHA loan amounts for different parts of Texas. FHA has bumped their max loan amounts for most areas of the state. The max FHA loan in rural counties is $294,515. Here are some of the max loan…