Do Yourself a Favor and Thank Someone Today! - 07/30/12 11:22 AM
I recently read an amazing article that talked about the key to success  is really Gratitude.  And it got me thinking….. they are right.  So I started to brainstorm on how this relates to the Real Estate Business.  And here are my random thoughts:
                                                                                      
·         You Did it!!- Give gratitude to yourself after a closing.  We all have those difficult or hard deals, so when one closes take a moment to congratulate yourself.  It will feel  GREAT!
·         Thank Your Title Company- If you are like me, you have a preferred title company to work with.  Take 5 minutes … (2 comments)

Get Your IRS Transcripts(tax returns) Faster, for Your Mortgage! - 07/27/12 02:10 PM
On every mortgage, your IRS Tax Return Transcripts are needed.  These are official copies of the information on your tax returns from the IRS.  Every lender will order a copy for the client, but many times it can take weeks for the transcripts to show up.  Which can cause your closing to be delayed.  Here is a way to get them even quicker and keep your closing from being delayed.  These are the exact instructions for the buyer to order them:
 
Go to www.house.gov On the Top Right – Under Find Your Representative Type Your Zip Code Type Your Address as … (0 comments)

Dave Your Mortgage Guy.com Testimonial- Nash Family - 07/25/12 01:03 PM

As first time home buyers we weren't sure where to start when applying for a home loan, we just wanted to be pre-approved and fast. We thought going online was the best option and we received a quick response from a major online loan company, so we went with them. At first, the process was very seamless and progressed nicely, we found a home we wanted and we were pre-approved; we couldn't have been happier. As we learned, buying home is stressful, as lenders go through your financial history with a fine tooth comb and question items that seem very arbitrary, … (0 comments)

Mortgage Rate Update Sugar Land, Katy, Houston, The Woodlands 07/25/12 - 07/25/12 07:56 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.375%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 3.6%
FHA 30 year:3.25%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.15%
Conventional 15 year:2.75%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.25%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

… (0 comments)

Dave Your Mortgage Guy.com Testimonial- Bill and Tiffany - 07/22/12 08:54 AM
Dave, wanted to say thanks again for all the help and great work you did for me and my wife.  You took a situation that had been looked at by 2 other mortgage companies, one of which was the one I'm with presently(current mortgage), and did what they said was impossible and we are now in our new home.  I couldn't believe how effortless it was with you compared to the other two companies not to mention such a friendly voice whenever we called with a question. I will be spreading the word of your services and my wife and I … (4 comments)

What is the Condo Limited Review? Well, it may just save your Deal - 07/19/12 10:58 AM

We all know condo financing has gotten ridiculously hard.  Few are FHA Approved, taking out the FHA mortgage option for someone buying a Condo.  So that leaves us with the Conventional loan route.  But many lenders and mortgages require an owner occupancy of 70%+.  The owner occupancy rate is the % of people who own and live in their condo vs those who rent out their condo.  So what do you do if the condo is “non warrantable” and does  not meet the owner occupancy rate needed to get approved for a mortgage……..

The Answer is the Condo … (2 comments)

Mortgage Rate Update Sugar Land, Katy, Houston, The Woodlands 07/18/12 - 07/18/12 08:38 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.375%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 3.6%
FHA 30 year:3.25%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.15%
Conventional 15 year:2.75%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.25%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

… (0 comments)

What is a CAIVRS Report and Can It Cause My FHA Loan to be Denied? - 07/16/12 01:40 PM
In short a CAIVRS Report is a report to see if you ever defaulted on any previous government loans.  CAIVRS stands for Credit Alert Verification Report System.  You must have a clear CAIVRS Report to get a new government loan, such as a FHA, VA  or USDA Loan.  This report will show if you have defaulted on any past Government Mortgages or even Government Student loans such as Sallie Mae Student loans.  This report is pulled when you loan is getting ready for or in underwriting. 
If you do not pass the CAIVRS Report you must address the account that … (0 comments)

Are You Thinking of Buying the Home Your in? 4 Things You Should Do - 07/15/12 11:29 AM
If you are buying the home you are renting, there are 4 things you should take in to consideration:
1.      Use a Title Company.  No Matter how much you like the seller’s or even if they are family, you should use a title company.  A title company makes sure the ownership of the home switches to you with none of the baggage of the seller’s.  Such as Liens on the property.  The Title company will also make sure your ownership is recorded.  This is extremely important since it officially makes you the owner.  And if you are getting a mortgage to … (0 comments)

Fort Bend Residents Should Prepare to Get Wireless Emergency Alerts - 07/11/12 09:59 AM
Fort Bend CountyOffice of Emergency Management
Fort Bend County Residents Should Prepare to Receive Wireless Emergency Alerts
Posted July 8, 2012 3:49:26 PM CDT
FOR IMMEDIATE RELEASE
RICHMOND, TX - There's a new way to get emergency alerts on your mobile device, it doesn't cost you to receive them, and the Fort Bend County Office of Emergency Management doesn't have to pay to send them. "What's not to love" you might ask? Nothing.
The new alerts are called Wireless Emergency Alerts, they're built into your mobile handset and developed by the Federal Government as a way to communicate with … (0 comments)

Mortgage Rate Update Sugar Land, Katy, Houston, The Woodlands 07/11/12 - 07/11/12 08:15 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.375%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 3.6%
FHA 30 year:3.25%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.15%
Conventional 15 year:2.75%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.35%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

… (0 comments)

My Experience At A Skeeters Baseball Game. Wow, it was a Blast - 07/10/12 11:30 AM
Being a resident of Sugar Land and a huge baseball fan, I was super  pumped when they announced that Sugar Land was getting a minor league baseball team.  The team’s name is the Sugar Land Skeeters and their stadium is located almost right at highway 6 and highway 90(across the street from the Sugar Land Airport).  But enough about the Baseball part of it, let’s talk about all the awesome benefits of going to a Skeeters Game:
 
1.      Ticket Prices- you can get a seat on the grass in the outfield for $8.  And the most expensive ticket is $12.  … (2 comments)

Your List of Abbreviations Used in the Mortgage Industry - 07/09/12 02:50 PM
Like all good industries, the mortgage business uses a lot of abbreviations.  And many times they can be confusing.  So I wanted to give a list and explanation of abbreviations used.  Here they are:
1.      UW- this means Underwriting.  Underwriting is the process of your loan being reviewed by an underwriter
2.      GFE- Good Faith Estimate.  This is the form that will have your fees and rate on it. 
3.      APR- Annual Percentage Rate- This is not your Interest Rate.  This is actually a calculation of the rate, fees and mortgage insurance
4.      TIL- Truth in Lending.  This is the … (2 comments)

The Mortgage Guidelines for Gift Money as Your Down Payment - 07/05/12 11:56 AM
Many homebuyers get financial  assistance for their down payment.  While getting your down payment from immediate family is definitely okay there are some rules you will want to know:
 
1.      FHA Loans:  On FHA loans you can have the whole down payment gifted to you.  FHA loans require a 3.5% down payment.  Keep in mind their maybe additional guidelines depending on your credit score. 
2.      Conventional Loans: You can have your whole down payment gifted to you if you are putting 20% or more down.  If it is less than 20% you will need 5% of the down payment … (6 comments)

 
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David Krichmar- DaveYourMortgageguy.com

Sugar Land, TX

More about me…

www.DaveYourMortgageGuy.com, FHA, VA, USDA, HomePath, Jumbo

Address: Serving Harris, Fort Bend, Montgomery, Brazoria County, Houston, Katy, Sugar Land, Pearland, The Woodlands or anywhere in Texas!

Office Phone: (832) 689-6012

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