GREAT words of wisdom from my friends over at KCM – There are some renters that have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage – either your […]Read More Rent or Buy – Either Way You’re Paying a Mortgage
Great news friends – homebuyers in the DFW metro (and surrounding areas) will see increased purchasing power thanks to FHA’s decision to increase loan limits beginning his January (2016). Previously the max loan amount for Dallas – Fort Worth area was $310,500 which means buyers could buy a $321,750 home by putting the very minimum down. However, as of […]Read More FHA Increased DFW Area Loan Limit! and other useful FHA tidbits
You served your country. Now let me and your country return the favor with special financing just for veterans. VA loans reward veterans for their service and sacrifice on behalf of our country in a number of ways. What Is A VA Loan? VA loans are a special type of home mortgage reserved for active […]Read More VA Loan
I know it doesn’t make sense that you are punished for doing the right things, according to my friends and credit experts at Home Loan Assist (HLA), unfortunately that is the case when it comes to credit. My friends at HLA shared this with me today – A collection that is six years old and hasn’t […]Read More Does paying off collections hurt or help your credit scores?
On December 19, 2014, legislation was passed once again allowing for the tax deductibility of mortgage insurance (MI) premiums for qualified borrowers. The deductibility is effective for purchase and refinance transactions closed after December 31, 2013. MI premiums paid or accrued after December 31, 2013 and through December 31, 2014 may qualify for tax deductibility […]Read More Mortgage Insurance = Tax Deduction
In the first Mortgagee Letter of the year FHA makes a HUGE change by reducing its annual mortgage insurance by 50 basis points across the board. The new rate will be 85 basis points (for loans with less than 5% down payment). Example – $200,000 mortgage with 3.5% down payment Previous FHA monthly mortgage insurance […]Read More FHA Officially Reduces Annual Mortgage Insurance – Cutting Monthly Payments!
Great news friends – homebuyers in the DFW metro (and surrounding areas) will see increased purchasing power thanks to FHA’s decision to increase loan limits beginning January 2015. Currently the max loan amount for DFW area is $287,500 which means buyers may buy a $297,900 home by putting the very minimum down. However, as of […]Read More FHA Loan Limits Increased! And other FAQ’s