USDA Rural Development Loans ARE BACK!

As of yesterday, the US House of Representatives passed a new bill (HR 4899) which includes additional funds for the Rural Development Loan Program.  This is HUGE news, as many many of these loans have been put into suspense over the past several months, or have been waiting for "subject to" commitments, which has been keeping them from closing, and not coincidentally, people from moving into their new homes. These additional funds will also be available for consumers looking to purchase new homes, although there is one small change to the previous requirements for qualifying.  People are still eligible for the ever popular 100% financing the USDA RD loan offers, but the up front Funding Fee has been increased from 2% to 3.5%.  This is small potatoes considering that this funding fee can be rolled into the loan amount, so you don't have to pay for anything out of pocket at closing (theoretically). If you have questions about the USDA Rural Development loan, or what properties in Fort Worth or Dallas qualify, don't hesitate to CONTACT US and we will review your situation.  You can also FILL OUT THIS FORM or

Time is Running Out to Refinance in Fort Worth-Dallas

This is going to be short and sweet, but I figured it is worth noting that this refinance boom we have been experiencing lately could be coming to an end very very soon.  Why?  Well, if history is to be our guide, we could be at the apex right as we speak.  And you can't get any better than the apex. For example, from April to July rates have been dropping quite steadily, but for the last several weeks they have leveled out, and don't seem to be dropping again.  In fact, all signs point to rates going back UP before we see any type of drop again. What does this mean to you?  It means that if you are on the fence about refinancing your mortgage you should take advantage of these low rates NOW before they go back up.  This is the best we have seen since 1972, and if you don't feel like waiting another 40 years you should CONTACT US as soon as possible. You can also SEND US AN EMAIL or FILL OUT THIS FORM and we will review your situation. We can get your ...

Buying HUD Homes – A Simple Guide

The following information is provided in effort to give you an introduction on HUD homes, and how they can be purchased by you as a consumer. WHAT IS A HUD HOME? In its most basic sense, a HUD home is a one to four unit property (residential) that is foreclosed upon and then acquired by HUD, who in turn offers it for sale to recover any loss it may have incurred on said foreclosure claim.  The houses are then sold to the public through internet listing sites that are ran by property management companies who are under contract from HUD.  CLICK HERE for local Dallas-Fort Worth HUD home listings. HOW DO I GET ONE? If you find a property you like, just notify your real estate agent who can make an offer for you on your behalf.  HUD will even pay the real estate agent’s commission (if it is included in the purchase contract).  If you need a real estate agent just contact us and we will find the best one for you! WHAT ABOUT PRICE? Based on the most recent appraisal, HUD homes are offered for sale ...

Tax Credit Closing Extension signed by President Obama

Good news!  President Obama this morning signed a tax credit extension for homebuyers who had a contract dated on or before April 30th of this year.  The extension is expected to help an estimated 200,000 people complete their home purchases in order to receive the $8000 tax credit, which has been running the past few years. The bill will allow first time homebuyers and any eligible borrower until September 30th to close on their home.  So if you recently put your home purchase on the back burner because you didn’t think you would get the tax credit, call your loan officer and get your mortgage moving again! As always, if you have any questions about the tax credit (or home loans in general) please don’t hesitate to CONTACT US and we will get back to you as soon as possible.  You can also fill out this LOAN OFFICER CONTACT FORM and one of our representatives will review your situation and see if we can help you out!