MARITZA GONZALEZ | Sr. Loan Officer | NMLS# 1150927 Licensed to do business in Texas. You have the right to file a claim against a licensed residential mortgage loan originator if you feel that you have suffered actual damages as the result of acts committed by a licensee in the origination of a residential mortgage loan.
The acts must constitute a listed violation of Texas Finance Code Sections 156.303, 156.304, or Section 157.024. http://www.sml.texas.gov/ConsumerInformation/tdsml_recovery_fund_claims.html
Equal Housing Opportunity Lender
Operating as usual
Cue "Beautiful Day."
It's already the weekend, right...?
We can't stop dreaming of Spring.
"Despite the usual holiday lull in overall mortgage applications, the demand for newly constructed homes increased in December. The Mortgage Bankers Association (MBA) said its Builder Applications Survey (BAS) found those applications were up 18 percent from November. The change does not include any adjustment for typical seasonal patterns. The applications were 7.8 percent higher than in December 2016." - Source: mortgagenewsdaily.com
He had a dream. Let's live it.
Time for a little liquid electricity.
It's the weekend already, right...?
Can we miss the holidays and want Spring at the same time...?
"If you're not prioritizing home ownership, you're making a costly mistake, says co-founder of AE Wealth Management and self-made millionaire David Bach. In fact, not buying a home is the single biggest mistake millennials are making, he tells CNBC Make It: 'The most important advice I can tell you right now if you're young is: Don't listen to these people that tell you should rent versus buy.' Even with the tax law changes, he notes, 'buying a home is the escalator to wealth in America. Homeowners are worth forty times more than renters.'" - Source: cnbc.com
Home is a (really good) feeling.
Keep calm and dream of Spring.
When life gives you (lots) of snow...
This cold weather's got us dreaming of Spring colors... Anyone else?
"Homes across the nation are selling at a breakneck pace—reaching levels not seen since the height of the housing boom more than a decade ago.
Sales of existing homes (which have previously been lived in) rose 5.6% last from October to November, according to the most recent National Association of Realtors® report. They were also up 3.8% year-over-year to reach a high of about 5.81 million sales.
That's the fastest clip at which they've sold since December 2006."
- Source: realtor.com
Did you know your credit score isn't the only factor lenders care about?
Your DTI could be just as important!
There are 2 types of DTI: front-end and back-end, and although the thresholds change from loan program to loan program, the basic calculations stay the same.
Front-End = Housing Expenses / Gross Income
Back-End = Housing Expenses + Other Debts / Gross Income
(Note that "housing expenses" aren't just your mortgage payment, but also any applicable taxes and insurance, and "other debts" includes all recurring debt payments!)
Want to know what kind of loan programs you may qualify for based on your DTI? Contact us!
Happy New Year!
We hope it's your best year yet!
Like if you still have your lights up.
The moment you remember its Friday!
The Christmas season winding down has got us all blue...
Loan limits will be rising in 2018 for loans guaranteed by the FHA. The Department of Housing and Urban Development (HUD) announced on Thursday it was boosting limits for those loans in more than 3,000 counties. This will bring FHA loans in line with those of Fannie Mae and Freddie Mac. The Federal Housing Finance Agency announced new limits for loans eligible for purchase or guarantee by the GSEs on November 28.
Did you know your credit score isn't the only factor lenders care about?⠀ Your LTV could be just as important!
The loan-to-value (LTV) ratio is a financial term used by lenders to express the ratio of a loan to the value of an asset purchased. For example, if you borrow $225K to purchase a house worth $250K, the LTV ratio is $225K/$250K, or 90%. The remaining 10% is referred to as "equity," or the amount of "cash in your home."
Loan-to-value is one of the key risk factors lenders assess when qualifying borrowers for a mortgage. The risk of default is always at the forefront of lending decisions, and the likelihood of a lender absorbing a loss increases as the amount of equity decreases. Therefore, as the LTV ratio of a loan increases, the qualification guidelines for certain mortgage programs become much more strict.
Want to know what kind of loan programs you may qualify for based on your LTV? Contact us!
Joy to the world, the Lord has come!
Is it Christmas morning, yet?
There's still time to deck the halls!
Hey, Winter! Nice to see you again!
"The economy has recovered from the depths of the financial crisis, and more folks are gainfully employed. So it's not exactly a shocker that the Federal Reserve raised its short-term interest rates three times in 2017.
But if interest rates are up, then why are mortgage interest rates still hovering around record lows? It turns out mortgage rates are actually more closely tied to the 10-year U.S. Treasury bond market. Who knew?
Bonds are usually considered a safer investment than the more volatile stock market. So when bonds are up, mortgage rates go down. But the party could be ending. The Fed is expected to raise rates four times in 2018. And mortgage interest rates will likely follow suit and start ticking up."
First-time homebuyers! We know it's been tough out there this year... Home prices have continued to rapidly increase and inventory has stayed historically low.
It looks like the nation's homebuilders may be coming to the rescue in 2018! Many analysts believe more homebuilders will be focusing on lower-end, entry-level homes in the new year.
Own your home. Get more out of life.
Don't wake me until Christmas. Amirite?
Business on the outside. Christmas Spirit on the inside.
"Homeowner equity increased by almost $871 billion over the last 12 months, the largest increase in more than three years," said Dr. Frank Nothaft, chief economist for CoreLogic. "This increase is primarily a reflection of rising home prices, which drives up home values, leading to an increase in home equity positions and supporting consumer spending."
There's no place like home.
With home prices continuing to rise at historic rates, you could be sitting on a lot of cash in your home.
We may be able to help you "free up" that cash to use however you wish... like simplifying debt and paying for home improvements!
Contact us today about cash-out refinances.
Homeownership looks good on you.
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Residential & Commercial Mortgage Banker - "Home Loans Built for You" NMLS#99250 | Equal Housing Lender
We will arrange for the purchase of “Certificates of Deposit” in the amount you request, at any acceptable insured (FDIC, CDIC) financial Institution.
Contact us for all of your home financing needs!