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NEXTA
Become an Expert at Buying HUD Owned Property in Texas
By Leesa Sandoval
Buying a HUD owned property in Texas is a slightly difference process than purchasing from an individual seller. These are usually great buys but there are just some things to consider. Far too many times I’ve seen buyers disappointed by the process simply because they were unaware of some of the, let’s just call them
Read MoreMove Up, NOT Out – Exploring the Renovation Refinance
By Leesa Sandoval
Renovation Refinances – After Repair Value Provides More Room to Renovate 203k & HomeStyle Renovation Mortgages – Turn YOUR House BACK Into YOUR Dream Home Life, inevitably, comes with change. Babies are born, those babies grow up, they head off to college. Income fluctuates up and down with good and bad economic times, promotions,
Read MoreWhat’s Great About the FHA 203k Renovation loan?
By Leesa Sandoval
What’s great about the FHA 203k Renovation loan? Well I could talk for hours about it but why not hear from a recent client of ours that closed on an FHA 203k Renovation loan as a refinance. Let me set the scene for you…We got their call one afternoon after their current contractor walked off
Read MoreFHA’s Back To Work Program – Own A Home Again!
By Leesa Sandoval
FHA’s Back To Work Program – Own a home again with a shorter waiting period after an economic event! How would you like to be eligible for an FHA loan and not wait 3 years after a foreclosure, pre-foreclosure or deed in lieu? I’m sure it wouldn’t take long for you to answer, YES! FHA has made this possible through Mortgage Letter 13-26 with their Back to Work Program!!
Read MoreThree Tools to Help You on Your Home Search in Texas
By Leesa Sandoval
I wanted to share with you three fun tools that I found to aid you with your home search in today’s hot Texas real estate market. Picking the perfect neighborhood and the perfect school district is very important. Especially if you are shopping with a family and intend on staying put for a bit. Also in a world full of mobile and smart phone devices why not put the internet to work for you.
Read MoreTrue or False: The FHA 203k Renovation Loan in Texas is Just for HUD Foreclosures
By Leesa Sandoval
The FHA 203k Renovation loan along with its conventional counterpart, the Fannie Mae HomeStyle Renovation loan, can be used for any type of property. Furthermore either can be used for a purchase or a refinance. I think far too often these loans are associated with HUD or bank foreclosures since those homes tend to be the most distressed but that’s not always the case. This is especially true in today’s market due to the speed at which the inventory is going under contract.
Read MoreThe FHA 203k Streamline Loan Made Easy in Texas
By Leesa Sandoval
The FHA 203ks or the FHA 203k Streamline loan is the answer for those wishing to purchase and renovate a home in Texas. Let’s talk for a moment about a home that has a great structure but just needs some light renovation. Why walk away from it when you can simply finance the cost of the new paint job or the new granite counters…just to name a few examples. Simply put the FHA 203k streamline loan eliminates much of the hassles needed to obtain its counterpart – the FHA 203k full loan.
Read MoreConventional Loans with 3% Down – They Are Real!
By Leesa Sandoval
Now might be a good time to think about a Conventional loan with only 3% Down. Why you ask? Well with FHA’s new mortgage insurance policy in place for both the 30 year and 15 year loans, a good alternative is a Conventional loan especially when we can get you one with only 3% down!!
Read MoreRediscovering the Fannie Mae HomeStyle Renovation Loan
By Leesa Sandoval
The Fannie Mae HomeStyle Renovation loan has gotten very little press lately in Texas. I’m not quite sure why since it’s a conventional loan that allows you to purchase or renovation a home with only 5% down. Let’s say you are refinancing and need money for repairs. This loan is your key! It’s the perfect hidden treasure for those needing a mortgage loan with a low down payment and the ability to finance repairs/upgrades.
Read MoreFHA Makes Changes to the Mortgage Insurance Premium
By Leesa Sandoval
HUD recently announced in Mortgagee Letter 2013-04 that any FHA case number issued on or after April 1, 2013 will be subject to an increased annual mortgage insurance premium (MIP) along with a new cancellation policy. Streamlined refinances where the case number was endorsed on or before May 31, 2009 would be an exception to this rule. What this basically means is that now would be the time to act if you are considering an FHA purchase or refinance!
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