With Conventional loans we have more flexibility to roll closing costs and prepaids into a loan.
FHA has strict rules on what can be rolled into a refinance loan. So, with FHA often times you end up bringing money to close on a refinance because we are limited on the maximum loan amount.
Once your current mortgage servicer pays your property taxes, then we only have to prefund your new escrow account with three months of taxes. …This is the lowest it will be all year.
The property tax bills are being paid this time of the year. …Hence, a good opportunity to refinance.
That’s it for today.
Thanks for reading!
Brett
Texas renters are spending more than 30% of their incomes on rent. It can be…
If you are looking for a home in the outer suburbs or in a rural…
If you have credit card debt it’s smart to consider a consolidation loan. If you…
I wanted to let you know we have a 2% to 5% downpayment and closing…
Do you have investment property, and would like to pull cash out of your property?…
Texas renters are spending more than 30% of their incomes on rent. It can be…
