Category: Mortgage loans
Streamlining Your Home Loan Journey: How A Texas Mortgage Broker Simplifies Approval
Streamlining Your Home Loan Journey: How A Texas Mortgage Broker Simplifies Approval Securing a home loan can often feel like navigating a maze of paperwork, terms, and lenders. The good news is that if you’re in Texas, a mortgage broker can be your guiding light through this complex process. Let’s explore how a Texas mortgage […]
Leveraging Rental Income: Using Investment Property Mortgages To Build Passive Income
Leveraging Rental Income: Using Investment Property Mortgages To Build Passive Income Investing in real estate offers a compelling path to financial freedom, and rental properties can serve as powerful vehicles for generating passive income. By leveraging rental income through investment property mortgages, you can build a sustainable source of revenue while benefiting from property […]
Strategies For Maximizing Benefits: How To Make The Most Of Cash-Out Refinance
Strategies For Maximizing Benefits: How To Make The Most Of Cash-Out Refinance Unlocking your home’s equity through a cash-out refinance can be a strategic move to achieve your financial goals. If you’re a homeowner in Texas, this option holds even more potential. In this guide, we’ll explore effective strategies for making the most […]
What are the Texas foreclosure laws?
What are the Texas Foreclosure Laws and Procedures? Texas foreclosure laws grant borrowers rights during the foreclosure process. Here are the lists of Texas foreclosure laws: the right to receive notice of default and acceleration the right to cure the default the right to stop the foreclosure sale. Under the Federal Housing Act, borrowers have […]
What are the Fannie Mae guidelines for first time home buyers?
What are the Fannie Mae guidelines for first time home buyers? Here are the Fannie Mae guidelines for First-time home buyers: buyers are investing in the security asset. buyers will occupy the security home as their primary residence; and three years prior to the date of the purchase of the security property, had no ownership […]
How much is the VA Funding Fee
How much is the VA Funding Fee in 2023? The VA Funding Fee is approximately 2.3% for first-time use of their entitlement and 3.6% for subsequent use (if applicable). These percentages can vary depending on factors such as cash out refinance loans, loan type, length of service, down payment size, and whether or not you […]
Mortgage-backed security vs Jumbo mortgage
How does a Mortgage-backed security compare to Jumbo mortgage? Loans with a total greater than the existing Freddie Mac and Fannie Mae conforming loan limit are referred to as mortgage-backed securities (MBS) these are also considered Jumbo Loans in Texas. Conforming loans that the issuer chose not to sell to Freddie Mac or Fannie Mae […]
What are requirements for a Certificate Of Eligibility
What are the requirements for a Certificate Of Eligibility During the VA loan application process, the VA mandates that lenders acquire proof of a Veteran’s military service. That evidence, which certifies to a lender that an applicant has in fact satisfied the VA’s military service requirement, is the Certificate of Eligibility (COE). To be eligible […]
Who can apply for a Section 502 Loan?
Who can apply for a Section 502 Loan? The following criteria must be met to apply for a Section 502 Loan: Borrowers must be without access to decent, safe, and sanitary housing Borrowers must fall within the appropriate low-income limit for the region Borrowers must be unable to borrow money from other sources on terms and […]
Can Surviving Spouses Get VA Loans
Can Surviving Spouses Get Veteran Affair Loans? Yes, Surviving Spouses can get a Veteran Affair Loan. A Veterans Affairs Loan is a mortgage loan that can be obtained through the Department of Veterans Affairs (VA) of the United States (previously the Veterans Administration). Veterans, active-duty personnel, and the surviving spouses of these individuals can obtain […]
Does the Paycheck Protection Program cover a USDA loan
Does the Paycheck Protection Program Cover USDA Loan? Yes, agricultural producers could use the Paycheck Protection Program (PPP) on some USDA loans to retain people on the payroll and offset some of their operational costs. The PPP was established by the US Federal Government in response to the Coronavirus (COVID-19) outbreak . The PPP and […]
Does Credit history affect an FHA loan?
Does My Credit History Affect An FHA Loans? Yes, if your credit score is below 580, you aren’t always eligible for a personal FHA loan. Applicants with poorer credit ratings will be required to put down a 10% down payment in order to be considered for a loan. When it comes to validating your ability […]
Are the National Guard eligible for a VA loan
Are the National Guard Members Eligible For A VA Loan? Yes, some VA benefits are available to National Guard members and all Reserve personnel who were released or discharged under circumstances other than dishonor. Your eligibility for a particular benefit may depend on how long you served, how dedicated you were to serving, and/or your […]
United States Department of Veterans Affairs
United States Department of Veterans Affairs At the 170 VA medical facilities and outpatient clinics spread across the nation, the United States Department of Veterans Affairs (VA), an executive branch agency at Cabinet level, is responsible for providing eligible military veterans with lifelong healthcare services. Disability benefits, vocational rehabilitation, financial aid for schooling, veterans loans, […]
GI Bill
What is the G.I. Bill? The Servicemen’s Readjustment Act of 1944, also known as the G.I. Bill, was a legislation that offered a number of benefits to some of the returning World War II veterans (commonly referred to as G.I.s). Although the initial G.I. Bill was repealed in 1956, programmes designed to help some U.S. […]
How to to avoid PMI in Texas
How To Avoid PMI In Texas You can avoid PMI in Texas by making a down payment that is at least one-fifth of the home’s purchase price, or 80 percent of the mortgage’s loan-to-value (LTV) ratio, is one option to avoid paying PMI. For instance, you would need to put down at least $36,000 if […]
Rural Housing Service
Rural Housing Service definition Rural Housing Service (RHS) is one of its departments (USDA). situated in the Department’s mission region for rural development. RHS runs a wide variety of programmes to offer the following to Americans in rural communities who have a moderate to very low income: homeownership options for individuals, such as direct loans […]
Agricultural subsidy
Agricultural subsidy Definition An agricultural subsidy (also called an agricultural incentive) is a government incentive paid to agribusinesses, agricultural organizations and farms to supplement their income, manage the supply of agricultural commodities, and influence the cost and supply of such commodities. Examples of such commodities include: wheat, feed grains (grain used as fodder, such as […]
