mortgage: Police Officer Appreciation Discount or Dallas Texas and beyond - 11/27/19 11:26 AM
Announcing our Police Officer Appreciation Discount program. Helping Police Officers and those in need aligns closely with our core value of pursuing our passion through purpose, so we are excited to relaunch the Fall Cause for 2019! Please review the details below. 
Program Dates: November 15, 2019 – December 31, 2019. Borrowers must have an application date in LQB by the deadline in order to qualify for the benefits. Program Benefits: Qualified borrowers will receive a $500 lender credit when participating in the 2019 Fall Cause. Eligibility: This program is valid on homes purchased or refinanced by active or retired police … (9 comments)

mortgage: Reverse Mortgage Myths | Part 2 - 06/19/19 12:13 PM
Reverse mortgage myths part two. The truth about reverse mortgages is that most people just don’t understand them. I work with loan officers and Realtors every day, and the vast majority of them have no idea of how a reverse mortgage actually works.
 I am a certified reverse mortgage specialist and I have been doing reverse mortgages for over 10 years. FHA insured reverse mortgages technically called HECM, have been around since the 80s. Originally there were no credit or income qualifications and one could borrow a great deal of their homes appraised value. Because of that, many borrowers would cash out … (0 comments)

mortgage: Mortgage Interest rate update for Dallas Texas| December 21, 2018 - 12/21/18 09:09 AM
The mortgage interest rates dropped to a 4 month low.  Now could be a great time to secure a low-interest rate for your new home purchase.  Ask me about zero down home loans and Jumbo Home loans for people with challenged credit or trouble showing income to qualify.  I can help.
Home renovations are up 30% over last year.  Let me show you have to secure the best home renovation home loan for your project.
New York Federal Reserve President John Williams said the Fed could possibly re-evaluate rate hikes for 2019
New York Fed President John Williams says the central bank is open to rethinking rate … (0 comments)

mortgage: Divorce? Top 10 Things You Should Know about Divorce - 11/26/18 02:58 PM
Divorce? Top 10 Things You Should Know About Your Mortgage When Going Through a Texas Divorce.  If you are currently in the process of a divorce or contemplating divorce and you have real estate and mortgage financing, there are many things you should consider. You can request a copy of the “Top 10 Things You Should Know About Your Mortgage When Going Through a Divorce” eBook now.

  Understanding Your Divorce Mortgage OptionsIf you are going through a divorce, mortgage issues need to be addressed and taken care of if the two of you own a home together. Even if your … (2 comments)

mortgage: Mortgage interest rate up date | 🏡 2nd Chance Home Loan Program - 10/26/18 03:03 PM
Mortgage Interest rate update for Dallas Texas October 26, 2018.   Current Mortgage Rate Trend Direction:  Modestly higher
Advise for Clients for mortgage rate lock: Continue floating as Stocks endure pain, for now
Disappointing earnings from Google and Amazon are pushing Stocks lower again this morning while giving Bonds a boost higher.
Today’s drop in Stocks comes after yesterday’s 400-point gain for the Dow as the extreme volatility continues in the equity markets.
The first read on Q3 GDP rose 3.5% versus the 3.3% though down from the 4.2% seen in Q2 – but still very strong – leaving the year over year rate at 3.00%. … (0 comments)

mortgage: 15 Business Day Home Closing Guarantee - 07/09/18 04:01 PM
Our 15 business days home closing guarantee helps you to compete with cash buyers.  Are you a Realtor or homebuyer looking to purchase a home in this competitive market? Often times your offer could be passed over in favor of by cash buyers that can close quickly.
I’m proud to announce that Service First Mortgage has just launched our 15 Business Day Home Closing Guarantee or Fast Pass-Guaranteed Closing*program. This program allows our homebuyers to compete with cash offers. Qualified homebuyers that complete a prequalification process with the Richard Woodward Mortgage Team of Service First Mortgage will be issued a certificate that … (0 comments)

mortgage: Free Mortgage App for your phone - 07/06/18 12:52 PM
With my Mobile Mortgage app, I’ve enabled a hassle-free experience that ties every aspect of the mortgage process together—from simply applying to closing your loan.
In order to provide the best mortgage service to my borrowers, we have developed Service First Mortgage – Richard Woodward Team Mobile App. It provides clients with tools to help you through the loan process with ease.
Imagine you are home shopping.  This app allows your to quickly and accurately calculate the payment for your new home in seconds.  Find out how much offering $10,000 more for a home will affect your payment.
Realtor and home buyers: Install it on your phone today
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mortgage: Mortgage rates update for Dallas Texas - 01/19/18 03:15 PM
Mortgage rates update for Dallas Texas for January 19, 2018. Mortgage rates climbed higher this week as a result of the bullish stock market. The stock market was pushed higher on economic optimism and as the recent tax plan buoyed stocks. Unfortunately, the bond market did not fare so well. The bond market determines interest rates for the most part. Generally when the stock market does well people pull money out of the bond market which often times results in higher mortgage rates.
Mortgage rates increased roughly 0.25% this year. This will result in higher borrowing cost and higher payments. If you … (0 comments)

mortgage: How does an inquiry affect my credit score for a mortgage - 01/16/18 04:58 AM
How does an inquiry affect my credit score for a mortgage. As a top Dallas Texas lender, I get this question all the time.  The fact is if you are shopping for a Dallas Texas mortgage, lenders have to pull your credit.  Let’s take a look at some basics.  What is an inquiry?  An Inquiry is the common term that is used to describe someone who is checking your credit status. Basically they’re inquiring about someone’s track record and payment history to creditors.
Many experts in the industry rate the inquiries down to a two part description. The two part description is … (0 comments)

mortgage: 5 things Plano home buyers should do - 08/29/17 07:38 AM
5 things Plano home buyers should do before they start looking at homes.
Get pre-qualified for a mortgage. See us and we’ll run the numbers to tell you the mortgage size and terms you qualify for to purchase your Plano home. This gives you the price range of homes to look at in Plano and makes you more attractive to sellers. I will even call the listing agent of the Plano home you want to buy and share with them your complete pre-qualified status. Most Plano Realtors would prefer to work with a local and direct lender that they know and trust. Check out … (1 comments)

mortgage: Changes coming to Fannie Mae loans on July 29th 2017 - 06/23/17 03:58 PM
Some great changes are coming to Fannie Mae loans on July 29, 2017. This benefits Texas homebuyers by allowing more people to qualify under more flexible guidelines. Fannie Mae recently announced new changes to its Desktop Underwriter® (DU®) Version 10.1 in order to make underwriting easier and simpler for Texas home buyers.
Big changes coming to Fannie Mae loans on July 29, 2017
One of the best changes that will help many borrowers with debt-to-income ratios between 45% and 50%. The DU Version 10.1 maximum allowable debt-to-income ratios (DTI) will be adjusted to consider applications with a maximum DTI of 50%. … (1 comments)

mortgage: Top 10 Things You Should Know About Your Mortgage When Divorcing - 06/02/17 12:53 PM
Top 10 Things You Should Know About Your Mortgage When Going Through a Divorce
Divorcing clients have many questions when going through a divorce; especially when real estate and mortgage financing are involved. Here are ten top things every divorcing client should take into consideration when dealing with the marital home and/or other real estate.
1. Timing of Filing The Divorce Petition. The timing of filing a divorce petition with the court has a direct impact on mortgage financing. When a petition for divorce is filed, most mortgage lenders will require either a temporary settlement agreement or a finalized divorce settlement agreement ordered … (1 comments)

mortgage: Divorce and Your Mortgage. What You Need To Know - 04/11/17 05:06 AM
Divorce and Your Mortgage If you are going through a divorce, separated, or considering a divorce and you own a Texas home together with a mortgage then there will be issues that need to be addressed. The vast majority of loan officers are ill prepared to help effectively and if they are not a Texas lender they may not even be aware of special Texas lending laws the apply to divorce refinancing and lending.
A professional divorce team has a range of team players including the attorney, financial planner, accountant, appraiser, mediator and yes, a divorce lending professional. Every team member … (2 comments)

mortgage: Need a Low Down Payment Option for your home purchase - 03/01/17 08:46 AM
Need a Low Down Payment Option for your home purchase HomeReady mortgages are designed to encourage home ownership.  For those clients looking for a larger property or have higher credit scores, Home Ready is an excellent choice.
You only need to make a 3% down payment for home loans up to $424,100.  The down payment can even be a gift from a relative or fiancé.
Read more about the program by visiting our HomeReady loan program page. 

Contact the Richard Woodward Mortgage Team today for your FREE consultation and customized mortgage purchase plan. Call now at 214-945-1066 or complete an online application now.
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mortgage: How to use a Bridge Home Loan to purchase your next home - 02/07/17 12:23 PM
How to use a Bridge Home Loan to purchase your next home February 7th, 2017 2:04 PM by Richard Woodward NMLS#217545
 
 
Are you thinking of buying a new home? If you are and you have a home to sell, you might worry about how to coordinate that.  Are you scared that you might sell your home and not be able to find your next home?  Buying and selling simultaneously can be stressful. 
 
Wouldn't you rather buy a new home and then take your time moving? The problem is that you need the equity in your existing home … (2 comments)

mortgage: How to divide home equity in Texas when divorcing - 01/17/17 09:31 AM
Refinancing while divorcing is a very hard thing to do.  Emotionally and financially, it can be very stressful.  Finding an experienced mortgage lender in Texas capable of handling this delicate situation is essential.
Texas is a common law state and if you are married and own Real Estate that is  considered your primary residence with a homestead exemption, both spouses have equal rights to the equity in the home.  Equity is the value of the home minus the mortgage loan amount.  The Owelty Lien is designed to give each spouse what is owed to them as detailed in the divorce decree states.  I have found that the Owelty … (2 comments)

mortgage: What are the steps to getting a mortgage? Video review of the process - 12/29/16 09:30 AM
What are the steps to getting a mortgage? Buying a home in Dallas Texas or other hot market? Shopping for a mortgage is the first step toward owning a home and perhaps the most daunting, especially if you are not prepared. Make no mistake, there's a lot involved in getting a mortgage loan. You wouldn't be here on our site if you could fill out a one-page application and get the best loan for you funded the same day. Prior to the mortgage crisis that occurred around 2008, getting a mortgage was as easy as picking out a new coffee table for … (2 comments)

mortgage: FANNIE MAE HOMESTYLE® RENOVATION LOAN - 12/21/16 01:27 PM
FANNIE MAE HOMESTYLE® RENOVATION LOAN
Whether you are looking to purchase a Plano Texas home that needs renovations or repairs or are refinancing an existing Plano Texas mortgage and looking to make home improvements, the Fannie Mae Homestyle® Renovation Loan is an excellent home loan choice.   Are you looking for a move in ready Texas home but can’t find one?  Why not buy a home in the perfect area and turn it into your dream home?
The great feature about this renovation loan is that it is a single first mortgage, not an equity line of credit, construction loan, or second mortgage. The … (3 comments)

mortgage: Should You Buy A Texas Home In December? - 12/19/16 02:41 PM
Buying A Texas Home In December Could Save You Money It’s December and it’s really cold outside. If you have been even remotely thinking about buying a Texas home, December could possibly be the best time for you to do so. There’s less competition in the marketplace, most people are enjoying the holidays going to parties enjoying themselves. The homeowners that have their homes listed during this time of the year are usually pretty motivated. You can pick up a good deal on a home, have a lot less competition, and do so before the mortgage rates continue to rise. 

So … (3 comments)

mortgage: Texas Home Buyers Will See Higher Rates With FED Increase - 12/14/16 02:12 PM
The Fed Raised Rates What Does That Mean To Texas Home Buyers?
As expected, the Federal Reserve announced today that it would raise its benchmark interest rate by a quarter of a percentage point.
“In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 1/2 to 3/4 percent,” the Fed’s policy-making committee said in a statement. “The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a return to 2 percent inflation.”
This is the first time the Fed has increased interest … (0 comments)

 
Richard Woodward  NMLS#217454, Service Beyond Expectations! Your Texas Lender (Service First Mortgage, NMLS #166487) Rainmaker large

Richard Woodward NMLS#217454

Service Beyond Expectations! Your Texas Lender

Dallas, TX

More about me…

Service First Mortgage, NMLS #166487

Address: 6800 Weiskopf Ave., Suite 200, McKinney, TX - Texas, 75070

Office: (214) 945-1066

Mobile: (972) 814-3587

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