Real estate blog entries tagged with texas by David Krichmar, DaveYourMortgageGuy.com (www.DaveYourMortgageGuy.com - Legend Lending)

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texas: Your Weekly Mortgage Rate Update for Houston, Sugar Land, Pearland, Katy, The Woodlands or anywhere in Texas. 11/3. 3.875% on a 30yr - 11/04/10 07:57 AM

Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.875%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.45%
FHA 30 year:3.875%
Credit Score:680
LTV:96.5%
loan amount:$200k
APR:4.475%
Conventional 15 year:3.5%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:4.05%

Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

… (0 comments)

texas: Your Weekly Mortgage Rate Update for Fort Bend, Harris, Brazoria, Montgomery County or anywhere in Texas. 11/3. 3.875% 30 year - 11/04/10 07:49 AM

texas: Know your Appraisal options. Appraisal Form 1004, 2055, 2075 - 10/28/10 07:43 AM

When doing a mortgage you need to pay for an appraisal. This is part of the mortgage process. But, there are times where you can choose to use different appraisal forms. These different forms offer different information that the lender requires and there are different costs for these different appraisals. Here is an explanation of the major appraisal forms and their benefits:

1004- this is the complete full appraisal. It uses comparable sales to decide a value. It will include the appraiser coming out to your home and doing interior and exterior photos. The majority of mortgages require this appraisal. 2055- … (1 comments)

texas: Your Weekly Mortgage Rate Update for Fort Bend, Harris, Brazoria, Montgomery County or anywhere in texas. 10/27 - 10/27/10 04:37 AM

Here is your weekly interest rate update:
Conventional 30 year Mortgage: 4.125%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.5%
FHA 30 year:4%
Credit Score:680
LTV:96.5%
loan amount:$200k
APR:4.5%
Conventional 15 year:3.5%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:4.05%

Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

… (0 comments)

texas: Your Weekly Mortgage Rate Update for Sugar Land, Katy, The Woodlands, Pearland, Houston or anywhere in Texas. 10/27 - 10/27/10 04:33 AM

texas: Your Weekly Mortgage Rate Update for Fort Bend, Harris, Montgomery, Brazoria County or anywhere in Texas. 10/20. 3.875% on a FHA 30yr - 10/20/10 08:24 AM

Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.875%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.125%
FHA 30 year:3.875%
Credit Score:680
LTV:96.5%
loan amount:$200k
APR:4.375%
Conventional 15 year:3.5%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:4.05%

Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

… (0 comments)

texas: Your Weekly Mortgage Rate Update for Sugar Land, Katy, The Woodlands, Pearland, Houston or anywhere in Texas. 10/20. 3.875% on a 30yr FHA - 10/20/10 08:20 AM

texas: Do you need a Fairy to help fix your Credit? - 10/20/10 03:23 AM

I was watching TV lately and this commercial came up(see below). Like any great commercial it did it's job and got my attention, it is very funny. So I went and checked out www.CreditFairy.org. As we all know having, having great credit will save you money. It allows you to have a lower interest rate and get approved for a mortgage. And the same goes for getting a car loan. If you do not have great credit, don't worry. The great thing about credit is you can always improve it. And this website is a GREAT place to start. Here are … (0 comments)

texas: When will the appraisal HVCC process expire or be terminated??? - 10/14/10 02:43 AM

I get this question quite frequently so I thought it prudent to issue the following answer:

The new Consumer Protection Agency created by the Dodd-Frank bill stipulated that the agency must "rewrite" (not eliminate) the Appraisal Independence Standards within 90 days of the President signing the bill into law.

Upon its effective date, the new standards will replace HVCC and its provisions supersede those created by HVCC . However, many misunderstand this to mean since HVCC is being terminated, none of its provisions will survive. That is not the case. As I understand it, the intent of rewriting the … (2 comments)

texas: Your Weekly Mortgage Rate Update for Fort Bend, Montgomery, Brazoria, Harris County, or anywhere in Texas. 10/13. 3.5% on a 15yr - 10/13/10 05:01 AM

Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.875%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.125%
FHA 30 year:4%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.375%
Conventional 15 year:3.5%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:4.05%

Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

… (0 comments)

texas: Your Weekly Mortgage Rate Update for Sugar Land, The Woodlands, Katy, Pearland, Houston or anywhere in Texas. 10/13. 4% on a FHA - 10/13/10 04:57 AM

texas: How much home does $300,000 buy you in Houston, Texas? - 10/11/10 07:53 AM

Yahoo recently did an article on how much home you can buy for $300,000 across America. The point of the article is that now is a great time to buy a home. Home prices are down 22% since the peek in 2006. The Least amount of home you can buy for $300,000 is a 576 square foot home in San Diego. And how much home can you buy in Houston for $300k, drum roll please....... 3,176 square feet. WOW!

Like the article points out, the home prices in Houston have stayed more steady then the rest majority of the U.S. … (0 comments)

texas: If Your Credit Score is Under a 640 You May Still be able to get a FHA Mortgage! - 10/11/10 07:18 AM

Many mortgage lenders and banks have recently gone to a minimum score of 640 for FHA loans(down to 620). At Schmidt mortgage we are still doing mortgages for clients who have under a 640 credit score. Obviously, these loans are done on a case by case example. On these loans an underwriter wants to make sure the borrower is a strong client even thou their scores maybe lower. Here are the requirements needed to help you get approved for your mortgage with a score under 640:
A Debt to Income Ratio of 45% of less. This is a calculation of your … (0 comments)

texas: Save up to 50% off a HUD Foreclosure if you are a Police Officer, Teacher, Firefighter or EMT. Good Neighbor Next Door Program - 09/30/10 03:22 PM

If you are Law Enforcement Officer, Teacher, Firefighter or an Emergency Medical Technician(EMT) you can buy a HUD foreclosed home for 50% off of the appraised value. This program is called the Good Neighbor Next Door Program. The 50% discount is like a 2nd mortgage that is forgiven after 3yrs. There are no payments like an normal mortgage, but if you sell the home before the 3yrs you will incur costs. For more information on this check out: 50% down payment.
For these professionals, the home must fall in the area that you work. Meaning a teacher must buy a home … (0 comments)

texas: Your Weekly Mortgage Rate Update for Fort Bend, Harris, Montgomery, Brazoria County or anywhere in Texas. 9/29. 3.875% on a 30yr mortgage - 09/29/10 06:51 AM

Here is your weekly interest rate update:
Conventional 30 year Mortgage: 3.875%
Credit score:740
LTV:80%
Loan Amount:$200k
APR: 4.125%
FHA 30 year:4.25%
Credit Score:640
LTV:96.5%
loan amount:$200k
APR:4.875%
Conventional 15 year:3.75%
Credit score:740
LTV:80%
Loan Amount:$200k
APR:4.25%

Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.

… (0 comments)

texas: Your Weekly Mortgage Rate Update for Sugar Land, The Woodlands, Katy, Pearland, Houston or anywhere in Texas. 9/29. 3.875% on a 30yr - 09/29/10 06:43 AM

texas: Houston is #10 in High Paying Jobs - 09/23/10 09:27 AM

Recently TheLadders.com named the Top Metro Cities with the highest paying salaries. Per their research the number of high paying jobs is growing. This is great news for our economy. Their definition of a high paying job is a salary of $100k or more. The oil and Gas industry is growing in Houston per the website. Helping Houston to come in at #10 on the list. Not only is this fantastic information for those of us living in the Houston area, it is also great for those people thinking of moving here. www.TheLadders.com is a online job placement website for positions … (1 comments)

texas: USDA has FUNDS!!!!! - 09/23/10 05:47 AM

Finally, USDA has funding again. I have confirmed this with The USDA office that handles Fort Bend and Montgomery County. This is an amazing mortgage program:

You will not need a down payment. That's right 0%!!! FHA loans require a down payment of 3.5% and a conventional can require 5% or more. And the seller can pay all or some of your closing costs. This would allow you to get in the home with the least amount of money possible. You will not have any monthly mortgage insurance. This will give you an even lower monthly mortgage payment then a … (3 comments)

texas: USDA has FUNDS!!!!! - 09/23/10 05:46 AM

texas: Is there a new 3.8% "sales tax" on real estate in the Health Care Bill? - 09/22/10 06:33 AM

This is extremely important information. Currently right now there are a lot of rumors saying this affects all transactions and it does not. Also check out Snopes.com's explanation of the 3.8% tax. www.DaveYourMortgageGuy.com.

3.8% Real Estate Sales Tax - True or False?
You may have received an email or heard something on Twitter about the 3.8% real estate sales tax that has recently been brought up as an issue with the Health Care Bill (HR 3200). In the emails, the tax is railed against and brought up as an absolute for all Americans selling their homes.
But wait...maybe we should dig further. … (0 comments)

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