Featured Loan this Month:
FHA - Refinance or Purchase
BENEFITS OF FHA...
1. Great Rates !!! Rates competitive with Conventional
2. We attend 95% of our closings to insure the numbers are correct - Either Refiance or Purchase - We'll be there with you!!
3. We check the appraised value of your home BEFORE the process starts to make sure the numbers work - No Surprises!!!
We Specialize in the Following Types of Loans
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Jumbo - Non-Conforming
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Conventional - Conforming Loans
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FHA loans (3.5 % Down Needed -Can be all gift funds)
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Up to 90% Loans for Land and Lots
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Purchase and Simultaneous Rehab
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Texas Equity Cash-Out
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Business Entity Loans (LLC, LLP, C Corp, etc.)
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Investor Loans of All Types
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And Many More .....Just Ask!!
What's Going On with "Jumbo" loans?
What are “Jumbo” Loans” and why are the rates higher (than smaller loans)? The real name for these loans is a Non-Conforming loan. In Texas, this is any loan larger than $417,000. The limit was raised higher than $417,000 in some areas of the US but this did occur in Texas, due to our reasonable house prices. The largest loan that Fannie Mae and Freddie Mac, now fully government-owed entities, will buy from a bank/lender in Texas is $417,000. Loans less than $417,000 are called conforming loans. Most conforming are bought by Fannie/Freddie. On Jumbo’s though, the bank/lender must hold and service those jumbo loans themselves, or sell them to a private investor. Fannie/Freddie is not involved. In times past, with lower default rates, it was easy to find or service a jumbo loan. Now these larger loans are viewed as riskier than in the old days. Consequently, there is a larger “spread” in the interest rates - Jumbo loans may be .750 % to 1 % higher than conforming loans, depending on the Bank/Lender. See our complete blog at www.homemortgagescoop.blogspot.com
What Makes Us Different
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We Personally Attend 95% of our Houston Closings to Insure Accuracy
- We NEVER Drop the Ball - We'll Always be in Touch Once your Loan is Started
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We are Referred Repeatedly by Realtors, Builders and Financial Advisors Due to Our Excellent Work Quality and Competitive Pricing.
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