mortgage: HOUSTON TEXAS HOME SALES - MARKET REPORT MARCH 2010
- 03/30/10 03:34 AM
This is great information for anyone looking to purchase a home in Houston Texas.
HOUSTON, TX GENERAL INFORMAION
Known as both the Bayou City and Space City, Houston, Texas was founded in 1836 and named after General Sam Houston. With a population of close to 2 million, it's the 4th largest city in the United States. The city has been a dynamic center of business since the early 1900s and is also the leader in space technology, being home to NASA and the Johnson Space Center. The port area is thriving and connected to the city by the Houston Ship Channel. Other … (0 comments)
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mortgage: MONTROSE, HOUSTON, TX HOME SALES - MARKET REPORT - MARCH 2010
- 03/30/10 03:29 AM
This is great Information about the Montrose area of Houston Texas.
MONTROSE AREA BOUNDARIES IN HOUSTON, TX
The Montrose area in Houston, TX is generally bound by Highway 59 to the south, Allen Parkway to the north, Bagby Street to the east and Shepherd to the west; Montrose market area boundaries expand beyond the subdivision.
Originally pronounced as if it were two words, that is, "Mont Rose", Montrose is generally bound by Highway 59 to the south, Allen Parkway to the north, Bagby Street on the east and Shepherd to the west. The Museum District is located in the southern part of Montrose … (0 comments)
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mortgage: MEYERLAND SUBDIVISION HOMES SALES, HOUSTON, TX - MARKET REPORT -MARCH 2010
- 03/30/10 03:19 AM
This is great information about the Meyerland area in Houston Texas.
BOUNDARIES OF MEYERLAND IN HOUSTON, TX
The boundaries of the Meyerland subdivision in Houston, TX are: South of Beechnut, North of Bellfort, West of S Post Oak and East of Chimney Rock
Meyerland is a residential area situated on the banks of the Brays Bayou at the outer southwest corner of Loop 610, just south of the city of Bellaire.Just a 15-minute drive (or less) to downtown Houston, the Texas Medical Center, the Galleria, and the Reliant Park complex, the Meyerland community boasts excellent accessibility, beautiful parks, and strong community … (0 comments)
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mortgage: Another Great Tip to Lower your Electric or Gas Bill
- 03/29/10 05:19 AM
Your water heater runs 24 hours a day. But you do not need hot water 24hrs a day! So in order to lower your electric or gas bill, you want to get a timer for your water heater. It costs about $20 and you can set it to heat the water when you do need it. Such as in the morning and when you get back from work. Please have a professional install it thou. I have seen this reduce people's electric bill by 15%-30%. Or if your heater is gas then this will also reduce your gas bill. Just another … (6 comments)
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mortgage: First Time Home Buyer Tax credit for Military members extended for a year!!!
- 03/25/10 07:33 AM
If you have any family members or friends who are in the military or a federal employee working outside the US may qualify for the first time home buyer tax credit.
Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close … (0 comments)
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mortgage: Your Weekly Mortgage Rate Update for Fort Bend, Harris, Brazoria county or anywhere in Texas
- 03/24/10 03:25 AM
Here is your weekly mortgage rate update:
Conventional 30 year Mortgage: 4.875%
Credit score:740
LTV:80%
Loan Amount:$200k
FHA 30 year:4.875%
Credit Score:640
LTV:96.5%
loan amount:$200k
Conventional 15 year:4.25%
Credit score:740
LTV:80%
Loan Amount:$200k
Please call me with any questions today.
… (0 comments)
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mortgage: Short Sale Transactions to get easier April 5th
- 03/23/10 05:44 AM
HAMP(also known as HAFA) stands for Home Affordable Modification Program. HAMP has addressed new rules for short sale transactions that are owned by banks(not Fannie Mae and Freddie Mac). Keep in mind HAMP has been a failure for helping home owners modify their current mortgage, so far. Lets hope this program makes short sale transactions easier. Here are the new rules(guidelines):
Uses borrower financial and hardship information already collected in connection with consideration of a loan modification. Allows borrowers to receive pre-approved short sales terms before listing the property (including the minimum acceptable net proceeds). This should make life much easier! … (5 comments)
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mortgage: FHA Loans Love Parents. Good Info to know
- 03/19/10 02:59 AM
FHA loans will allow a parent (or immediate family member) to cosign on a loan. Unlike a conventional loan where if a parent co-signs they require a down payment of 10% or more, FHA only requires 3.5%. Here are the benefits of having a parent co sign on a FHA loan:
If your buyer does not make enough money to qualify the parent's added income can help them qualify. If your buyer does not have a lot of credit or long enough(time) credit. The parents established credit can help solve this problem The parents can gift ALL of the down … (0 comments)
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mortgage: USDA Funds are Nearly Exhausted
- 03/11/10 06:02 AM
This is important info for buyers who need the USDA mortgage. Please call me today on the USDA program. Especially if you are looking to buy in the Fort Bend, Harris or Brazoria County. Or anywhere in Texas.
If you have buyers in need of 100% financing, take notice! One widely popular tool for funding is about to run out of money. Buyers that need a no down payment loan guaranteed by the USDA are running out of time to get their deal done. Notice was delivered from Washington on March 9 that the funds are nearly exhausted, with expectations … (0 comments)
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mortgage: Is there a Sex Offender in your Neighborhood? find out
- 03/10/10 04:10 AM
1. There is a sex offender in almost every neighborhood. Go to http://records.txdps.state.tx.us and click on ''Public Sex Offender Search" and enter your county or zip code. You can also visit this site FamilyWatchDog.
2. "Sex Offender" means many things. Registered sex offenders have been convicted of a variety of offenses and juveniles convicted of certain crimes in Texas are also required to register. Thus, a 40 year old rapist and a 14 year old who emailed his friend a naked photo of his underage girlfriend are "sex offenders!"
3. Not all people convicted of sex crimes in Texas are on … (0 comments)
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mortgage: Your Weekly Mortgage Rate Update for Fort Bend, Harris and Brazoria County. Or anywhere in Texas
- 03/10/10 02:04 AM
Here is your weekly mortgage rate update:
Conventional 30 year Mortgage: 4.75%
Credit score:740
LTV:80%
Loan Amount:$200k
FHA 30 year:4.875%
Credit Score:640
LTV:96.5%
loan amount:$200k
Conventional 15 year:4.25%
Credit score:740
LTV:80%
Loan Amount:$200k
Please call me with any questions today.
… (0 comments)
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mortgage: 2nd mortgages do exist. I promise!!
- 03/08/10 05:41 AM
Quite often I hear from clients that another mortgage company or bank tells them that 2nd mortgages do not exist. This is usually because that company is not approved to do them or chooses to not do them. But I promise they do exist. Why would a buyer choose to do a 2nd mtg:
Avoid mortgage insurance. Many times avoiding mortgage insurance is beneficial for a couple reasons: a lower payment and the interest is tax deductible. Over the long term mortgage insurance is not tax deductible. They have a home to sell and do not have the 20% down … (6 comments)
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mortgage: Austin Texas Sold Statistics for February 2010 - Includes Austin, Cedar Park, Leander, Manor, Pflugerville, & Round Rock
- 03/05/10 09:26 AM
This is great info to know for the Austin Texas area. For your Mortgage needs, please call me today. www.DaveYourMortgageGuy.com
Below are the market statistics for single family homes sold in February 2010 in the Austin area.
Austin
Number of Homes Sold: 469
Average Sale Price: $299,704 ($133/square foot)
Median Sale Price: $230,000
Average Days on Market: 68
Most Expensive Home Sold: $2,985,000 in Rivercrest (904 days on market)
Least Expensive Home Sold: $61,000 in Village South (17 days on market)
Cedar Park
Number of Homes Sold: 56
Average Sale Price: $218,928 ($94/square foot)
Median Sale Price: $196,775
Average Days on Market: 70
Most Expensive … (0 comments)
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mortgage: Home Affordable Refinancing Program Deadline Given One Year Extension
- 03/05/10 08:52 AM
This is great info, that i wanted to pass along. Call me today if you live in Fort Bend County, Harris County or any where in Texas and are interesting in having this program help you. www.DaveYourMortgageGuy.com
HARP Deadline Given One Year Extension
The Federal Housing Finance Agency stated today that the Home Affordable Refinancing Program (HARP) would be exptened for one more year. The program which is in place to assist homeowners with Fannie Mae or Freddie Mac loans with little or no equity in their homes. The program assists homeowners to refinance into lower interest rate mortgages, even … (0 comments)
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mortgage: FHA 90 day rule(anti flipping) has changed. And its good news. A must Read
- 03/03/10 10:32 AM
The 90 day rule for FHA loans is this: the seller must have owned the home for at least 90 days before selling it to a buyer who is using FHA financing. A while back they removed bank foreclosures from this rule. Now they have allowed individual sellers to sell their home before 90 days. This is GREAT news. But there is some things to know and consider:
FHA rule is they allow the seller to technically double what they bought the property for. But over 100% will require a 2nd appraisal I can tell you for a fact, most … (2 comments)
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mortgage: Which Immigration Visa's can a buyer have to still get a mortgage??
- 03/01/10 12:01 PM
I often get asked which visa's are okay for some one to get a mortgage. I have even run into clients who had a visa I was not familiar with. So I wanted to pass this info along. These Visa's are approved for someone to get a fha or conventional mortgage:
E-1,2,3 G-1,2,3,4, H1B and H1C L-1A and L-1B NACARA P-1 R-2 TN V-1,2,3
Visa's that have requirements:
H-4:only if H-1B is on the loan L-2: only if L-1A and/or L-1B is on the loan P-4: only if P-1 is on the loan R-2: only if R-1 is … (1 comments)
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mortgage: Texas Loan Officers and Mortgage Brokers will now be held to a higher standard!!
- 02/25/10 09:29 AM
The Texas Department of Savings and Loans will now require more of licensed Loan Officers and Mortgage Brokers. The SAFE Act will require all LO's and Brokers to apply with the state and a credit report will be pulled. The state wants to see financial responsibility. The following list are items that would cause the state to consider revoking their license:
Bankruptcies filed within the last 10 years; Current outstanding judgments (except judgments solely as a result of medical expenses); Current outstanding tax liens or other government liens; History of and current collection accounts; Foreclosures within the past three years; … (2 comments)
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mortgage: Telfair is the #6 community in the Nation for New Home Sales and other Great Info about this great Community in Sugar Land, Texas
- 02/24/10 07:07 AM
Telfair is a beautiful community that is along highway 59 in Sugar Land at the University Blvd exit. It recently was named the #6 largest new home sales community in the nation. Lets talk about some of the great accomplishments and benefits of Telfair:
It has the recently added Branch of the Houston Museum of Natural Science it was the #1 community in Southwest Houston,(sold 412 homes in 2008) it offers amazing access to highway 59, highway 6, highways 99 and 90(thru New Territory) "Newland Communities" also helped bring New Territory and Telfair communities together with the sidewalk they helped build. … (0 comments)
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mortgage: That previous FHA appraisal is Haunting me!!!!!!
- 02/19/10 01:19 AM
"What I have to use that FHA appraisal????? WHY???" Well, here is the easy answer "you have to". FHA requires that if an appraisal has been done on a property in the last 6mths, it must be used. Your next question "how would FHA even know". When you do a FHA loan it must go thru "FHA Connection", FHA's website and it knows everything like Big Brother. Here are some things to keep in mind with this topic:
"I can't get the old mortgage company to give me the appraisal"- No Problem you have a couple options: - Contact … (4 comments)
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mortgage: The Fed is raising rates by .25%. Mortgage Rates will go up
- 02/19/10 12:30 AM
I never write these types of posts, with boring language on what causes rates to go up. If you are like me, you just want to know what the rate is that day. But, this recent change will dramatically raise rates and will also probably see them continue increase in the future. The Fed has raised the "discount rate" from .5% to .75%. The discount rate is the rate that banks borrow money at. So this move will cause mortgage rates to increase. This move really shows that the government is no longer focusing on keeping mortgage rates down. This move on … (3 comments)
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This is great information for anyone looking to purchase a home in Houston Texas. 
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