If you purchased a home using your own cash, and now would like to pull your cash back out – we can do that.
This type of loan is called ‘delayed financing’. …and, you can get your cash back out of the house.
In fact, we do these types of cash out loans up to three million dollars. Many companies won’t lend cash out over 500k, but we do!
…so, if you are in need of a loan like this – shoot us an email or give us a call. We can help!
That’s it for today!
Thanks for reading!
Brett
I wanted to remind you 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
Did you realize that when buying a house from an immediate family member – the buyer doesn’t necessarily have to come out of pocket for a down payment? (As long as it’s an owner occupied residence for seller and buyer.)
…this is because the guidelines allow the seller to “gift” equity to the buyer.
So, the down payment can be a gift from the seller. …in addition to this, the seller can also pay the buyer’s closing costs, and prepaid expenses (taxes and insurance).
Reach out to us if you have any questions on how this works.
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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
Many loan officers don’t know this loan exists.
If you are getting a divorce, and you have to pay your spouse their share of the equity, don’t use a traditional Texas Home Equity loan to do it.
Use an Owelty loan to get the cash out of your home instead.
The advantage of using an Owelty Loan over a Texas Home Equity loan is that we treat them as a regular rate and term refinance (not cash out rates – which are higher).
You can also get above 80% of the value of your home with an Owelty Loan, and you can’t go above 80% with a Texas Home Equity loan.
So, if you are in this situation, or you know someone who is – and your loan officer has told you that you don’t have enough equity to cash out the ex-spouse, just tell them that you need an Owelty loan.
…or, better yet – just give us a call and we can help you!
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
We help alot of borrowers with FHA loans.
-Here are some interesting facts about FHA loans, and why they are so popular…
-FHA loans make up over 80% of 1st time buyer mortgage
-73% of 1st time buyers over 95% LTV and under 680 fico use FHA
-The average credit score in TX is a 681
-By the numbers…a $289K FHA loan with a 680 fico will save a borrower $111 per month vs a conventional loan with PMI
-Over 80% of TSAHC DPA loans are FHA thanks to flexible terms!
If you or someone you know wants to purchase a house contact our office to see how we can help you.
That’s it for today.
Thanks for reading!
Brett
If you purchased a home using your own cash, and now would like to pull your cash back out – we can do that.
This type of loan is called ‘delayed financing’. …and, you can get your cash back out of the house.
In fact, we do these types of cash out loans up to three million dollars. Many companies won’t lend cash out over 500k, but we do!
…so, if you are in need of a loan like this – shoot us an email or give us a call. We can help!
That’s it for today!
Thanks for reading!
Brett
Most Down Payment Assistance is tied to your income. If you make too much money you don’t qualify for the Down Payment Assistance.
Not this one.
It doesn’t matter how much you make.
So, if you have at least a 600 credit score, and you have been working for the last two years, you may well be able to qualify for this no money down loan.
Here are some bullet points on this program…
So, if you or someone you know wants to buy a house, reach out to our office and let’s see if we can get you qualified for this program.
