USDA is a 100% government insured loan. Low rates, and no down payment. However, there are geographic limitations on this program. To see if the area you are interested in is eligible for a USDA loan – please go to this map and check it out. Let us know if you have other questions regarding this program.…
The bad news is that according to Redfin, 38% of U.S. renters don’t believe they’ll ever own a home, up from 27% a year ago. 35% of renters noted the ability to save for a down payment as a major hurdle preventing homeownership. The good news is that we have a solution. We have many…
In Texas we have some unusual rules when it comes to getting cash out of our homes. For owner occupied residences, we are limited to 80% max loan to value ratio. When it comes to a divorce, if one spouse is keeping the house they will often have to pay the departing spouse their share…
If you pay your property taxes apart from your mortgage payment, and you didn’t get them paid by then end of January they are now considered late with the county. 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…
If you purchased a home using your own cash, and now would like to pull your cash back out – we can do that. This type of loan is called ‘delayed financing’. …and, you can get your cash back out of the house. In fact, we do these type of cash out loans up to…
Did you realize that when buying a house from an immediate family member – the buyer doesn’t have to come out of pocket for a down payment? (As long as it’s an owner occupied residence for seller and buyer.) …this is because the guidelines allow the seller to “gift” equity to the buyer. So, the…
Did you know we have a loan product now that allows you to purchase investment property (up to 29 units) without producing income documentation? We do. They are called Debt Service Coverage Loans. As long as the rent from the property will cover the mortgage payment, that is all the income documentation we need. This…
Do you need cash out of your home, but you don’t want to refinance the low interest rate first mortgage currently on your home? We have a solution… We can use a HELOC. This is a second mortgage in the form of a line of credit you can draw on as needed. Very easy to…
I wanted to address the two most common questions that I get regarding reverse mortgages… Question: What happens if I die? Will the lender be taking my house? Answer: No. After you pass away, your heirs may pay the loan balance in full with cash or by refinancing the debt and they can keep…
Do you need cash out of your home, but you don’t want to refinance the low interest rate first mortgage currently on your home? We have a solution… We can use a HELOC. This is a second mortgage in the form of a line of credit you can draw on as needed. Very easy…