For 2012 the following areas are have higher than normal FHA loan limits: San Antonio and the surrounding areas can go all the way up to $332,500 for a single family residence. Austin and the surrounding areas can go to $288,750 for a single family residence. Houston, Dallas, and all other areas in the GREAT STATE OF TEXAS can go to $271,050 for a single family residence. This mortgage information applies to both a texas home purchase or a texas mortgage refinance. http://www.texaslowcostmortgage.com/
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dallas mortgage: FHA Tip Of The Day
- 08/12/08 04:39 AM
HUD guidelines do not require that a married couple both be on the loan, however, the debts from a a non-purchasing spouse must be counted in the DTI ratios. That being said, did you know that derogatory trade lines (from the non-purchasing spouse), such as collections and judgments, are NOT counted against the loan attributes?
Jeff Schraeder DFW Loan Officer Imperial Mortgage … (1 comments)
dallas mortgage: Emotional /Value Added Marketing
- 08/22/07 08:22 AM
I HIGHLY recommend emotional and value added marketing. An example of emotional marketing would be sending birthday cards to all of your past clients on their birthdays. More importantly, why not take the time to put a hand-written note inside of each birthday card. Then, consider a 30-second phone call to every one of your clients to wish them "Happy Birthday" on the day of their birthday. This lets them know that you care about them and want to continue your relationship. Set up a system to manage and remind you who and when to call. You can even use something … (0 comments)
dallas mortgage: How To Never Forget a To-Do Item
- 08/03/07 07:37 AM
Have you ever been driving down the freeway and remember something that needs to be added to your to-do list? I have. Many times. Trying to jot down a memo at 70-plus miles per hour while pricing loans and returning voice mail is not exactly safe.My excuse has always been, "this is just the way it's done..." Being consistent in returning calls as an Account Executive and a Loan Officer parallel. We both provide for our families by serving the needs of others. I've learned that following-up and completing each days To-Do list is crucial to OUR continued success. I recently … (5 comments)
dallas mortgage: Mortgage Apps Scratching 5-Month Low
- 07/30/07 06:10 AM
According to the MBA's latest Weekly Mortgage applications are now scratching a 5-Month low as weakening demand for purchase applications are evident. The NAR's existing homes report on Wednesday shows sales volume off 11.4% from year-ago levels; Inventory numbers stay at a 15-Year high.It's evident that our market is slowing down, and in today's shaky mortgage climate, there's not much you can control. Not rates, not inflation, and not even changing programs. The ONLY aspect of the flow of business that you CAN control is, in fact, the MOST IMPORTANT: your marketing. There are fundamental steps that successful loan officers walk … (1 comments)
dallas mortgage: Develop Your Strategy:
- 07/05/07 01:09 PM
If you want to make money in this market first figure out your strategy. A strategy is what you are going to say and who you are going to say it to. Stop wasting money on tactics like calendars, pens, websites, and newsletters until you first have something good to say and have figured out exactly who to say it to.- You could label yourself as a a "Second Opinion Expert" offering free mortgage advice for friends/family- You could label yourself as a "mortgage planner" specializing in investment strategies and retirement funds thru mortgages.- You could label yourself as a "credit … (4 comments)
dallas mortgage: Partner With Long Term Affiliates
- 06/27/07 03:07 AM
Many loan officers make the mistake of trying to stay involved with 25+ lenders simultaneously. Though shopping for as many options as possible is noble, in the end an "over-shopper" will invest too much time and energy in trying to place a loan. In addition, your lenders of choice often will reward loyalty with a higher level of attention on your files in process. DFW Loan Officer Jeff Schraeder Imperial Mortgage … (1 comments)
dallas mortgage: Know Where To Invest Your Marketing Dollars
- 06/22/07 06:46 AM
How are you Marketing for new clients? Knowing trends and average response rates is important when deciding where to invest your marketing dollars. This morning, I read the recently published 2006 Direct Marketing Association report that indicates response rates to current marketing mediums. Here's what I found:Direct Mail - 2.77%Post Cards - 2.19%E-mail - 2.48%Telephone - 8.55%Search Engine Marketing - 1.07%Newspaper - Space Advertising - .5%Direct TV - 8.14%Radio - 1.35% (Real Estate Sector - 2.67%)Tip is to develop a cross-marketing campaign utilizing multiple marketing mediums to the same potential clients. Bliss Sawyer, president of Mortgage Marketing Strategies, said this:"Consumers shopping for … (4 comments)
dallas mortgage: Publish Your Own Magazine
- 06/20/07 04:20 AM
A Reason To Stay In Front Of Your Past Clients Staying in front of past clients is vital to a loan officer's and Realtors success. I'm always on the prowl for ideas and new ways to help you accomplish that objective. A common pitfall to avoid when marketing to your client base each month is sending meaningless or useless information. A successful campaign provides something useful to your client, that simplifies their life or helps to improve their lifestyle in some small way. The struggle is finding good information that will be found useful and valuable.Publish Your Own 12-Page Full Color MagazineWhy … (0 comments)
dallas mortgage: Remembering Summer-Time Holidays
- 06/14/07 07:13 AM
Did You Know?I read a recent university market survey that stated 87% of your past customers care more about relationship with you, than about the price they paid.Staying in front of past clients is key to growing your business year after year. As part of my goal, I believe in sharing marketing ideas and coaching mortgage professionals, like you, on new and improved ways to grow your business.How's your follow up with your past clients so far this year? With Summer-time here, you have a great reason to re-contact your old client base if you have not been doing so on … (0 comments)
dallas mortgage: Mortgage Rates Surge Higher
- 06/12/07 01:29 PM
Given the prospect for further rises in rates, borrowers holding ARMs may be well advised to heed our refi advisory. A light economic calendar, a stock market which seems to have topped out for the moment, and a late-week selloff in the Treasury market -- which pushed 10-year Treasury yields to five-year highs before falling back by week's end -- all contributed to the increase in mortgage rates, particularly this week. As has been the case over the last couple of weeks, economic news has been mixed, but flashes of stronger growth have become clearly evident. Dallas loan Officer Jeff Schraeder Imperial Mortgae … (2 comments)
dallas mortgage: Can Your Marketing Compete With 5,950 Others This Week?
- 06/11/07 07:31 AM
Increasing your Frequency over your Reach I read an article recently pertaining to Real Estate Marketing that absolutely shocked me. It said:"The average American consumer is exposed to at least 5,950 advertising or promotional messages in a week, according to a study in the Texas A&M University digital library..."So often I see loan officers grow frustrated with their marketing responses. With a lower response rate, overtime loan officers slow down, and sometimes stop marketing themselves altogether. In my opinion, with so much advertising competition SCREAMING for our clients attention, how can you get noticed?To counter this advertising overload, the most successful advertisers … (0 comments)
dallas mortgage: MARKETING MARKETING MARKETING
- 06/06/07 07:00 AM
What are you doing to stand out in a crowded market place? A vital role in your continued success is to create ways to stand out, and remain in front of prospective buyers.Flip over your business card. Is it blank? You are looking at a great opportunity to paint that canvas with testimonials or referral slogans.Look at your office walls. Are there testimonials and pictures of happy clients? You're looking at an opportunity to display your dedication to your clients.This quarter, have you contacted EVERY client that you closed a loan or sold a house for? Staying in front of your … (1 comments)
dallas mortgage: What You CAN Control
- 06/04/07 06:32 AM
In today's shaky mortgage climate, there's not much you can control. Not rates, not inflation, and not even changing programs. For some, it means it's time to look for another job. For others, it means it's time to start pinching pennies and cutting back. For loan officers who believe they are captains of their own destiny , it means it's time to think creatively and push forward!I don't know about you, but for me, closing less loans is not an option. I want to see your business INCREASE, not level off; Or even worse, decline. The fact is that even with … (1 comments)
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