Buying a home

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This may come as a shock to many borrowers, but it’s absolutely true. Here is great information form a valuable Texas lender. Mortgage interest rates are not set by the Federal Reserve and, contrary to popular belief, mortgage rates are not directly tied to the yields of US Treasury bills, bonds, or notes – including the 10-year Treasury Note. That’s right. Despite what you might hear in the media, mortgage interest rates are actually set by lending institutions, and are based solely on the performance of mortgage-backed securities. Read the rest of this entry »

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Beautiful North Deerfield in Plano is located 1 mile East of Preston Road and Hedgecoxe. 4 Showcase stunning Plano homes are ready to close within the next 30 days. This beautiful neighborhood is close to well known Deerfield in Plano. Attractive area is close to several shopping centers and restaurants.  

Outstanding neighborhood offers the best floor plans for brand new homes with great deals.

Stunning Brand New house of Livingston Plan is 3787sqft and has 5 gorgeous retreat style bedrooms, 4 beautiful stylish bathrooms, media room as well as game room. Stone elevation exterior invites you the attractive inside. Monterey homes just reduced the price from $459K to $425. Read the rest of this entry »

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Here is important news about Housing and Urban Development from our Lender Jeff Lancaster at Prime Lending.

This is cutting edge news and a more formal announcement will be made, however, I wanted you to know about this ASAP.  This is a very important news for investors interested in Dallas Homes and Plano Foreclosure Properties.

HUD has announced their intention to

  • Lower the Up Front MIP from 2.25% to 1% AND
  • Increase the Annual (monthly) MIP From .50 – .55% to .85 – .90% depending on LTV

on loan terms greater than 15 years. Read the rest of this entry »

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Closing costs is one of the biggest concerns for buyers and sellers during any real estate transaction. During home buying process most people think that the down payment is going to be enough however you will have additional closing costs to your down payment. There are many professionals will work for you during your real estate transaction who may not even see or talk with you such as title assistant, lender’s staff, escrow agent, appraisers and more. Most of the time closing costs cover all these helpful professionals labor, licenses, education needs, state mandatory filing system and more. You may still have a part that you can work on to reduce closing costs.

Shopping around for title insurance fees may help you to save and talking with different Title Company helps you to see the different options easily for your closing costs.

Remember to ask the seller if they can contribute or pay all of your closing costs at the closing. It is getting harder to find this kind of real estate deals but sometimes you can make this work. You can offer little bit more than the seller was asking and get contribution at the closing towards your closing costs. That way, you are essentially financing the closing costs over 30 years or whatever loan term you have. Only one thing you need to be careful this kind of real estate deals that you may have problems with the appraisal if purchase price is at or near top market value.    Read the rest of this entry »

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