Top Mortgage Lenders in Texas

  FHA Loans Good Morning! FHA loans  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

  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...