If you’re thinking about selling your home… you need to know about the “Rate Lockout Effect.”
Are you thinking about selling your home? Now may be the time to move-up or down-size depending on your real estate goals. Either way, if you’re thinking about selling your home… you need to know about the “Rate Lockout Effect.” Leading real estate economists are predicting that homeowners who bought homes, or refinanced their mortgages, […]
Looking for 0% Down Payment on a Home??? Check out 672 Austin Lane…
This FireBoss Realty Listing Only Lasted 10 Days On The Market!!! That’s right 0% Down Payment… You may have heard that the days of 100% financing are over and that is mostly true… BUT… There are still USDA Guaranteed Housing loans for eligible families looking to buy eligible property. Are looking for 0% Down Payment […]
Is An FHA-Insured Mortgage What You Need?
One of the few blessings to come out of the Great Depression was the FHA-insured loan. Although, contrary to what many think, it wasn’t created to help low-income buyers get into homeownership. Just as during our recent recession, in the Great Depression foreclosure rates skyrocketed, leaving lenders in the lurch. The FHA-insured loan was created […]
There Are New Rules for Mortgage Pre-Approval as of January 10, 2014!!!
It is sometimes called the Qualified Mortgage (QM) Rule, other times it is called the Ability-to-Repay (ATR) Rule, either way there are new rules for mortgage pre-approvals as of January 10, 2014. Getting pre-approved for a mortgage is an essential first step in the home buying process because real estate agents and the sellers the […]
If My Home Has A FHA Loan… Can I Use It As A Rental Property?
I recently had a conversation with a client who has lived in a home for 12 years with a FHA loan and they wanted to rent it out when they bought another home. They had heard that they would have to refinance to a conventional loan or pay off the FHA loan before they could use […]
The Texas Foreclosure Process
The Texas Foreclosure Process is very short and simple. Homeowners in default on their mortgage can, by law, lose their home in as few as 41 days. And because Texas is a non-right of redemption state, there is no opportunity to reclaim your property once the foreclosure has taken place. For these reasons it is […]
What You Need To Know About A Mortgage… BEFORE You Get One!!!
Getting a mortgage for a home can seem like a complicated and mysterious process. Just like any good investment, you should never buy anything that you don’t understand. Knowing how the mortgage lending system works will relieve much of the stress and anxiety associated with making what is most likely the largest purchase of your […]
Rising Mortgage Rates May Be Good For You!!!
I Want to Buy a Home… How In The World Can Rising Mortgage Rates Be Good? In the current market for Northeast DFW Homes, prices are high, the supply of homes is low and credit from mortgage lenders is tight. In fact, mortgage lending rates have gone up almost a full point from the record lows […]
The Importance of a Lenders Pre-Approval Letter
Before making an offer on a house in today’s real estate market you will need to get a Pre-Approval Letter from your lender. A pre-approval letter is a commitment in writing from a lender that a borrower would qualify for a particular loan amount based on income and credit information. Most pre-approval letters are good […]