Would you like to get cash out of your home, but you don’t want to touch your low interest first mortgage? We have solutions. We can either do a HELOC (Home Equity Line Of Credit), or a closed in second mortgage to get you the cash you want. These are easy quick loans that are…
If you need cash out of your house, but don’t want to touch your first mortgage, and you can’t provide traditional income documentation, we have a solution. We now have a closed in second mortgage that you can get by proving your income via bank statement deposits. No pay stubs. No income tax returns. Let…
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…
I had this situation come up again recently… Advice: If you enter into a lease option agreement don’t give cash for the option money. The reason is when you try to buy the house down the road you will have to prove you gave the option money to get credit for it. …it’s hard to…
Merry Christmas! If you want to acquire rental properties, but you are having issues proving your income – here’s one tool you can use… It’s called a Debt Service Coverage loan. We take the estimated amount the property would rent for, and as long as that number covers the mortgage payment – you are ok…
One of the most important things you will have to do when you apply for a loan is to show that you have the money for the down payment. This is called sourcing in the mortgage industry. You can have this money in your checking account or savings account now. You can borrow it from…
I wanted to let you know we have a 2% to 5% downpayment and closing cost assistance program called “Homes for Texas Heroes”. If you are in one of the following professions you may qualify for this purchase program: Professional Educators, Which Includes The Following Full-Time Positions In A Public School District: School Teachers, Teacher…
If you want to acquire rental properties, but you are having issues proving your income – here’s one tool you can use… It’s called a Debt Service Coverage loan. We take the estimated amount the property would rent for, and as long as that number covers the mortgage payment – you are ok income wise.…
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…
In the mortgage world there are rules we have to follow. Such as, rules about how long a person has to work to get a mortgage. Guidelines to get a conventional mortgage say you need at least two years of work history. However, sometimes it’s possible to get a conventional loan with less than two…