3: The Rules For Texas Cashout Loans Have Changed! - 01/10/18 12:11 PM
As we Texans know mortgages for taking cash out of our primary home have pretty unique rules. There is the “once a cashout always a cashout” rule. Which was that once you do a cashout loan any future loan will have to follow the Texas cashout rules, such as the max loan would be 80% of the homes value never more.  There was the “3% in fees” rule. This rule stated that all fees for the loan can not be above 3% of the loan amount. The fees included: lender fees, appraisal, survey, title co fees etc. This made it almost impossible … (0 comments)

3: A Conventional Mortgage with 3% down payment…. They do Exist! - 08/22/13 01:27 AM
 
There is a lesser known conventional loan program that allows a 3% down payment.  This program is fantastic for home buyers that do not have the 5% down payment of a normal conventional loan.  But there also some other great examples where this loan could help home buyers, here are just a few of them:
 
 
1.      Can not get a 2nd FHA loan- If you already own a home and have a FHA loan, you most likely can not get a 2nd fha loan. Except in a few small examples(job transfer, etc).  This program could allow you to … (2 comments)

3: Mortgage Rate Update Sugar Land, Katy, Houston, The Woodlands 03/20/13 - 03/20/13 12:44 AM
Conventional 30 year Mortgage: 3.75%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.1%
FHA 30 year:3.25%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.27%
Conventional 15 year:2.875%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.21%
 
Rates are Subject to Change
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(3 comments)

3: Mortgage Rate Update Sugar Land, Katy, Houston, The Woodlands 12/5/12 - 12/04/12 11:52 PM
Conventional 30 year Mortgage: 3.25%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 3.63%
FHA 30 year:2.875%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:3.98%
Conventional 15 year:2.625%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.05%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(0 comments)

3: Mortgage Rate Update Sugar Land, Katy, Houston, The Woodlands 10/3/12 - 10/03/12 12:56 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.125%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 3.53%
FHA 30 year:3%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.15%
Conventional 15 year:2.5%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.05%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(1 comments)

3: Mortgage Rate Update Sugar Land, Katy, Houston, The Woodlands 09/19/12 - 09/19/12 12:56 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.5%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 3.73%
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:3.15%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(2 comments)

3: Mortgage Rate Update Sugar Land, Katy, Houston, The Woodlands 9/12/12 - 09/12/12 01:27 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.625%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 3.83%
FHA 30 year:3.25%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.15%
Conventional 15 year:2.875%
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)

3: Mortgage Rate Update Sugar Land, Katy, Houston, The Woodlands 05/16/12 - 05/16/12 04:26 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.875%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.3%
FHA 30 year:3.5%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.55%
Conventional 15 year:3.125%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.55%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(2 comments)

3: Your Weekly Mortgage Rate Update For Sugar Land, Katy, Houston, Pearland, The Woodlands, Conroe or anywhere in Texas. 05/2/12 - 05/02/12 12:49 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.875%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.3%
FHA 30 year:3.75%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.85%
Conventional 15 year:3.25%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.65%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(0 comments)

3: Your Weekly Mortgage Rate Update For Sugar Land, Katy, Houston, Pearland, The Woodlands, Conroe or anywhere in Texas. 04/25/12 - 04/25/12 01:17 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 4%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.3%
FHA 30 year:3.75%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.85%
Conventional 15 year:3.25%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.65%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(0 comments)

3: Your Weekly Mortgage Rate Update For Sugar Land, Katy, Houston, Pearland, The Woodlands, Conroe or anywhere in Texas. 04/18/12 - 04/18/12 12:50 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.875%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.3%
FHA 30 year:3.75%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.85%
Conventional 15 year:3.25%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.65%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(2 comments)

3: Your Weekly Mortgage Rate Update For Sugar Land, Katy, Houston, Pearland, The Woodlands, Conroe or anywhere in Texas. 4/11/12 - 04/11/12 12:40 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 4%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.3%
FHA 30 year:3.75%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.85%
Conventional 15 year:3.25%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.65%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(0 comments)

3: Which Immigration Visa is acceptable for someone to get Approved for a Mortgage - 04/03/12 12:50 AM
Recently many mortgage lenders have updated the list of acceptable Immigration Visa(s) for someone to be approved for a mortgage.  So I wanted to pass along the Acceptable Visa’s and a short explanation of them:
A Series (A-1, A-2, A-3): these visas are given to officials of foreign governments, immediate family members and support staff. Only those without diplomatic immunity, as verified on the visa, are allowed.
 
E-1 Treaty Trader and E-2 Treaty Investor: this visa is essentially the same as an H-1 or L-1; the title refers to the foreign country's status with the United States.
 
G Series … (2 comments)

3: Your Weekly Mortgage Rate Update For Sugar Land, Katy, Houston, Pearland, The Woodlands, Conroe or anywhere in Texas. 2/29/12 - 02/29/12 01:14 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.875%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.25%
FHA 30 year:3.75%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.85%
Conventional 15 year:3.25%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.65%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(0 comments)

3: Your Weekly Mortgage Rate Update For Sugar Land, Katy, Houston, Pearland, The Woodlands, Conroe or anywhere in Texas. 2/22/12 - 02/21/12 11:53 PM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.875%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.25%
FHA 30 year:3.75%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.85%
Conventional 15 year:3.25%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.65%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(0 comments)

3: Your Weekly Mortgage Rate Update For Sugar Land, Katy, Houston, Pearland, The Woodlands, Conroe or anywhere in Texas. 2/1/12 - 02/01/12 02:17 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.875%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.25%
FHA 30 year:3.75%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.85%
Conventional 15 year:3.125%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.5%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(0 comments)

3: Your Weekly Mortgage Rate Update For Sugar Land, Katy, Houston, Pearland, The Woodlands, Conroe or anywhere in Texas. 1/25/2012 - 01/25/12 02:10 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 4%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.375%
FHA 30 year:3.75%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.85%
Conventional 15 year:3.375%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.70%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(0 comments)

3: MAJOR ANNOUCEMENT: Conventional loans now need 7yrs from a Finished Foreclosure to get Approved - 01/11/12 07:37 AM
In a recent move, Fannie Mae and Freddie Mac changed their guidelines in regards to foreclosure history.  Now on all conventional loans no matter the loan to value or down payment amount, the borrower must be 7 years removed from a foreclosure.  This changed from the 4yrs that were needed based on a 20% down payment and longer time periods needed for lower down payments.  This does not affect FHA loans, luckily.  As they only require 3yrs removed from a foreclosure. 
Keep in mind this can affect clients who had a short sale transaction in their past.  As many short … (0 comments)

3: Property Condition Grading Has Changed on all Appraisals. Know your C’s!!!!! - 12/21/11 09:56 AM
Recently the condition assessment on appraisals has changed.  Before the condition options were Excellent, good, poor, etc.  That has now changed, they are now rated with letter “C” and a number 1 thru 6.  It is important to know these ratings or grades and how it can affect your client.  Here is the short explanation of each grade:
 
·         C-1  This is a brand new constructed home that has not been lived in
·         C-2   This home has no physical depreciation, deferred maintenance or needed repairs.  And all work has been done recently and is similar to that of a … (18 comments)

3: Your Weekly Mortgage Rate Update For Sugar Land, Katy, Houston, Pearland, The Woodlands, Conroe or anywhere in Texas. 10/12/11 - 10/12/11 04:44 AM
Here is your weekly interest rate update:
Conventional 30 year Mortgage: 4.125%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.85%
FHA 30 year:3.75%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.85%
Conventional 15 year:3.375%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:3.89%
 
Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

(2 comments)

 
David Krichmar, DaveYourMortgageGuy.com (www.DaveYourMortgageGuy.com - Legend Lending) Rainmaker large

David Krichmar

DaveYourMortgageGuy.com

Sugar Land, TX

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www.DaveYourMortgageGuy.com - Legend Lending

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Office: (832) 689-6012

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