Top Mortgage Lenders in Texas

  Good Morning! FHA gift questions come up often. This is where the buyer would get a gift to help in purchasing a home. I wanted to give you the rules on FHA gift giving. Acceptable gift donors for FHA loans… 1) Borrower’s Relatives. 2) Borrower’s Employer Or Labor Union. 3) A Close Friend With A Clearly Defined And Documented Interest In The Borrower. 4) A Charitable Organization. 5) A Governmental Agency Or Public Entity That Has A Program Providing Home Ownership Assistance. Unacceptable gift donors for FHA loans… 1) The Seller. 2) The Real Estate Agent Or Broker. 3) The Builder Or An Associated Entity. Gifts from these sources are considered inducements to purchase, and must be subtracted from the sales price. That’s it for today! For more details please visit our website.  Loans by Brown

  Hello! If you pay your property taxes apart from your mortgage payment, and you didn’t get them paid by then end of January they are now considered late with the county. There are two issues I see every year with regard to property taxes. …Issues that put people in tough spots. 1) Some people just don’t have the money saved up to pay their property taxes. …They might have had the money, but had to use it on an emergency. …or any number of other things. 2) Some people that have an escrow account on their mortgage — but their mortgage company didn’t collect properly. This often results in an arrearage… Which means your payments go way up until the escrow is caught up. If you are in either one of these situations — there’s usually an easy fix for it. …Refinancing. We can often refinance someone in either one of these situations, and we pay the property taxes through the new refinance loan.. …Not only that, but usually at a lower rate and payment than they have now. Please let us kno...

  Hello! The other day I had a borrower ask me if they could apply for a 30 year mortgage even though they were 78 years old. I can see why they asked this question. …The odds are they may not be around for another 30 years. Just so you know… It’s against the law for mortgage companies to discriminate against a mortgage applicant for being older. Even if you were 90 years old you could still apply for a 30 year mortgage. That’s it for today! For more information please visit our website:-  Loans By Brown

  Hello! Here are two quick credit tips for you… 1) 30% of your score is made up of the ratio between your available credit vs your actual balances on revolving credit accounts (like credit cards). You don’t want to charge these accounts over 50% of the available balance, and its even better if you can keep it under 30% of the available balance. 2) 15% of your credit score comes from the length of time each account has been open, and the length of time since the account’s most recent action. So, it’s  i mpossible for someone who is new to credit to have a perfect credit score. A longer credit history provides more information and offers a better picture of long-term financial behavior. So, to improve your credit score, individuals without a history should begin using credit, and those with credit should maintain long standing accounts. That’s it for today! For complete blog Please visit our website:-  Loans By Brown

  1. Shop Around It'll take some time, but could save you a good sum of money. Ask your friends, check the Yellow Pages or contact your state insurance department. (Phone numbers and Web sites are listed here.) National Association of Insurance Commissioners ( www.naic.org ) has information to help you choose an insurer in your state, including complaints. States often make information available on typical rates charged by major insurers and many states provide the frequency of consumer complaints by company. Also check consumer guides, insurance agents, companies and online insurance quote services. This will give you an idea of price ranges and tell you which companies have the lowest prices. But don't consider price alone. The insurer you select should offer a fair price and deliver the quality service you would expect if you needed assistance in filing a claim. So in assessing service quality, use the complaint information cited above and talk to a number of insurers to get...

  The following list of items has been compiled for your convenience. Please bring this information to your mortgage application in order to expedite the processing of your mortgage loan. A check for your credit report and appraisal Your residence addresses for the past  two years Names, addresses, and phone numbers of your landlords for the past  two years Present value of all real estate owned Names, addresses, phone numbers, and contact person for all employers for the last  two years W-2 Forms for all employers for the last  two years To receive the  complete contents  of this special report titled "Checklist Of Items Lenders Need To Approve Your Loan Application" and get VIP access to the rest of our FREE home loan success reports, simply fill out the form below and we will send you an INSTANT ACCESS link to the email address you provide below. Also, make sure you register for our  Insider Mortgage Secrets , browse our  HomeBuying Resour...