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Finding a Mortgage Loan in Texas |
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By JasonH on
12/29/2007 2:41 AM
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If you are looking for a mortgage loan in Texas you have a number of good options. There are many things you need to know to before choosing a loan. You will need to understand the costs associated with a mortgage loan, as well as the rates and types of mortgage loans available.
Based on the most recent data mortgage rates for thirty year fixed mortgages are at a historic low, and the amount of points charged varies per lender, based on many factors including the loan amount, longevity of the loan and your credit score. There ar ...
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About Mortgage Lenders |
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By JasonH on
12/29/2007 2:40 AM
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Finding a reputable Mortgage Lender is essential in purchasing property. A good mortgage lender should be knowledgeable and be in a position to give you the information you need so that you understand types of loans and which loan is right for you, as well as helping you to obtain the best rate available.
A good mortgage lender will help you prepare and provide the necessary information so that your loan process goes smoothly. A good Mortgage Lender will help you determine what type of loan will be best for you by discussing the types of loans and the options available to you.
If you are buying a home, it is important to find a Mortgage Lender who will work well with you in a partnership.&nbs ...
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Is There a Doctor in the House? |
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By JasonH on
12/29/2007 2:39 AM
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Is There a Doctor in the House?
If you answered no then you aren’t using the right mortgage lender. The reality is that many doctors are so busy trying to establish their practice that record keeping and organization can fall by the wayside. In the past missing or incomplete paper trails were enough to keep a potential homebuyer, even with good credit, from getting the home of their dreams.
With technology and experience at our disposal, we are able to make the obstacle of the paper trail a stepping-stone to funding your loan. In our experience, doctors have good credit and higher than the average income if this is true in your s ...
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The Lowdown on Mortgage Fraud |
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By JasonH on
12/29/2007 2:38 AM
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Mortgage Fraud has never been as prevalent as it is today. In the past two years, it has increased so much that the FBI has put out a strong Mortgage Fraud Warning Notice, which the Mortgage Bankers Association is promoting.
The activity in the lending industry has increased so much that there are more opportunities. In addition, the rise in defaults and foreclosures is also linked closely to the increase in Mortgage Fraud. John Fleming, general counsel for the ...
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An Arm and a Leg Anyone? |
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By JasonH on
12/29/2007 2:37 AM
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Beware of the loan that offers a helping hand or in this case “ARM”, these loans look initially attractive and come with a variety of possible burdens.
An option ARM is a loan that adjusts the interest rate monthly, the payments annually and “allows” the borrower to choose the amount of the payment. Sounds great right? WRONG! Although the initial benefits are obvious there are some turns in the road that can not been immediately seen. Since the borrower can choose two types of payments “In ...
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The New Mortgage |
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By JasonH on
12/29/2007 2:37 AM
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Thanks to Federal Regulators there is once again good and bad news. The bad news is more paperwork and tougher standards when applying for and ultimately purchasing your home. Creating tightened guidelines for stated income and piggy back loans and stricter rules for option arms and interest only is meant to create security for the lenders.
Good news for home buyers? YES! Ever since the days of School House Rock we have known that “Knowledge is Power!” nothing has changed. If the borrower knows the rules, they can be ...
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Is Your Escrow Account Enough For You? |
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By JasonH on
12/29/2007 2:36 AM
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Each year thousands of unsuspecting homeowners buy new homes to live in. These new homes come equipped with granite countertops, new appliances, the fresh smell of paint and new carpet. At the closing, the borrowers are excited to move into their new home, the home they have worked hard to obtain. Although they do not know it, they are in a huge surprise when the second year of property taxes is due.
Let me give you an illustration. Bill and Marie bought a home for $200,000 in July of 2007. Due to the home being new, the taxes were on land only, unimproved property. The taxes were calculated by the cost of land times three percent or $35,000 x 3% making the total $1050 per year or eighty-seven dollars per month. All is fine and well until the tax ...
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Merry Christmas! |
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By JasonH on
12/25/2007 1:54 PM
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From Our Families To Yours, A VERY MERRY CHRISTMAS!
May you find the home of your dreams and fill it with love!
Jason Holter
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