VA home loans are one of the best benefits available to veterans. The program allows honorably discharged veterans to buy a house without a down payment. But now the program is about to get even better. A new law expanding VA disability benefits to more veterans who were exposed to
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here’s a tremendous opportunity right now to become a real estate investor here in the Austin area, and it’s much easier than you might think.
This spreadsheet breaks down the cost of waiting for the perfect interest rate, with 20% down on a $350,000 property. Essentially, when all the variables are added up, waiting one year will cost you $25,321, while waiting two years will cost you $52,111. So what are you waiting for? If
Conventional loans make for the bulk of the loan origination pipeline, yet two stalwarts that are not considered conventional still provide a stellar product for those who qualify—VA and FHA mortgages. In Austin and surrounding areas, the FHA loan limit is $389,850, and the maximum VA mortgage is the same
I know it seems like sometimes we mortgage specialists are speaking in a different language! I’m here to tell ya, I feel your pain (I wasn’t born a mortgage specialist). Here’s a list of frequently used terms that will hopefully narrow your learning curve when you’re looking for a new
Have you been on the fence about buying a home? Are you still running the numbers in your head to discover exactly when the right time will be? Here are a few things to consider if you’re just not ready to start shopping. Interest rates are holding steady, but all
How to Get Prepared for a Mortgage Application The first thing need to do is come up with a plan of action. You can’t just jump into this without thinking it through first. Obviously, you need to pre-prepare for the process and that’s what this article will be about. However,
Why refinance? Well, for starters, you can obtain a lower interest rate by choosing a program at a better rate than you currently have. You can lower your payment by stretching out your current balance over a new 30-year term. This means it will take longer for you to pay
In the market for a new home? With mortgage rates rising, you may want to consider a mortgage rate lock. What is a mortgage rate lock? A rate lock freezes an interest rate on a mortgage for a period of time. The lender guarantees (with a few exceptions) that the mortgage rate
Keep Track of Your Credit Score Credit scores and credit activity play a key role on mortgage approvals. Most lenders require a minimum credit score of 680 (620 for FHA mortgage loans) ñ and if your score falls below 680, lenders can deny your request for a conventional mortgage loan.
In today’s world, fewer and fewer homebuyers actually sit at a loan officer’s desk and complete a physical loan application. This five page form, commonly referred to by lenders as a “1003” is a complete financial profile of the buyers including income, assets and permission to run a credit report.