Know This When Buying A House...

 

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 down payment funds”.

For instance, the down payment on an FHA loan is 3.5%.

You can have this money in your checking account or savings account now. You can borrow it from your retirement account. …You can even get the down payment as a gift.

…but, it’s crucial that we are able to show where it’s coming from.

I can tell you that cash is a problem when it comes to sourcing your down payment. You will need to put it in the bank and leave it for 60 days before we can use it.

If you aren’t sure where your down payment is coming from – find out now. …before you apply for a loan.

That’s it for today!

Have a good day today!  …and thanks for reading.

Brett

 

Get Pre Approved For A Loan Here
My Previous Blog

Know This When Buying A House...

 

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 down payment funds”.

For instance, the down payment on an FHA loan is 3.5%.

You can have this money in your checking account or savings account now. You can borrow it from your retirement account. …You can even get the down payment as a gift.

…but, it’s crucial that we are able to show where it’s coming from.

I can tell you that cash is a problem when it comes to sourcing your down payment. You will need to put it in the bank and leave it for 60 days before we can use it.

If you aren’t sure where your down payment is coming from – find out now. …before you apply for a loan.

That’s it for today!

Have a good day today!  …and thanks for reading.

Brett

 

Get Pre Approved For A Loan Here
My Previous Blog

Free Grant Money Available For Your Down Payment On These Professions...

 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 aides, school librarians, school counselors, and school nurses
Police officers and public security officers
Firefighters and EMS personnel
Veterans or active military
Correction officers and juvenile corrections officers
Nursing faculty and allied health faculty

If you or someone you know may need this program, just reach out to our office and we’ll see if we can help.

That’s it for today!

Thanks for reading!

Brett

Get Pre Approved For A Loan Here
My Previous Blog

No Appraisal Needed For This Easy Cash Out Loan...

 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 to qualify for, and quick to close.  And, no appraisal!

Let us know if you would like to know how this could work for your situation.

That’s it for today!

Thanks for reading!

Brett

Get Pre Approved For A Loan Here
My Previous Blog

Solution For Zero Down House Buying...

 The bad news is that according to Redfin, 38% of U.S. renters don’t believe they’ll ever own a home, up from 27% a year ago.

35% of renters noted the ability to save for a down payment as a major hurdle preventing homeownership.

The good news is that we have a solution.  We have many no down payment options down to a 600 credit score for you!

If you or someone you know needs help with a down payment, reach out to our office and let’s see if we can help you.

 

 

That’s it for today!

 

 

Thanks for reading.

 

 

Brett

Get Pre Approved For A Loan Here
My Previous Blog

Who Can Give A Gift On A Purchase Loan...

 Are you planning to use a gift for the down payment or closing costs when using a Conventional Loan?

Not just anyone can give you a gift.  Here is the list of acceptable donors that can give you a gift…

Relative, defined as the borrower’s spouse, child or other dependent, or by any other individual who is related to the borrower by blood, marriage, adoption, or legal guardianship.  Fiancée, or domestic partner – an unrelated individual who shares a committed relationship with the primary wage earner, currently resides in the same household as the primary wage earner, and intends to occupy the security property with the primary wage earner.

The donor may not be or have any affiliation with the builder, the developer, the real estate agent, or any other interested party to the transaction.

That’s it for today!

Thanks for reading!

Brett

 

Get Pre Approved For A Loan Here
My Previous Blog

How To Pull Cash Out Of Your Investment Property Without Proving Income...

 

Do you have investment property, and would like to pull cash out of your property?

However, for some reason you can’t provide income documentation to your lender to get a cash out loan.

We have solutions!

We have loan programs that will allow you to pull cash out of rental property with no income documentation at all.

If this applies to you or someone you know, reach out to us and let’s see how we can help you.

That’s it for today!

Thanks for reading!

Brett

 

Get Pre Approved For A Loan Here
My Previous Blog