Tag Archives: home loan

If you’re looking for Texas home loans for tough economic times, the truth is that you can get a home loan much easier than you ever thought possible. While you can definitely get a Texas home loan for tough economic times, it’s important to consider a number of factors when considering taking out a Texas home loan in order to ensure that you get the best loan possible with the best possible interest rate and the best possible loan terms.

Today, our Texas home loan experts are going to talk about some things to look for and consider when deciding on getting a Texas home loan for tough economic times!

The Interest Rate

Of course, one of the most important things to consider when looking for any home loan, including a home loan in Texas, is the interest rate. While it can be a bit tougher to get a home loan in tough economic times, you can still get a home loan with an excellent interest rate on your mortgage. Even if you don’t have the best credit, you can search for a lender that will provide you the best possible interest rate, giving you the best deal on your home loan. Continue reading

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Over the past few years, the housing market has been in a downturn and, while it’s currently still at a low point, the housing market is now ripe to improve. When the housing market improves and real estate becomes more valuable throughout the country, especially in certain states, it’s very likely that real estate prices are going to rise.

If you’re thinking about buying a home, it’s very important to beat the market with a home loan while conditions are ripe for rising prices. Since prices are very likely going to rise soon, buying a home and taking out a home loan now while prices are still low and it’s still a buyer’s market is an excellent move.

Our real estate experts are going to share some tips and great reasons why buying a home and getting a mortgage now, while the housing market conditions are prime for rising prices, is an excellent idea. Continue reading

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Basel III is the international agreement made in 2010 by members of the Basel Committee on Banking Supervision to make the banking system more resilient after the recent collapse of the economy back in 2007. The economy continued to show signs of weakness well into 2009, which is why Basel III was deemed a necessary provision to help banks better absorb significant losses and also prevent them from hurting the economy by taking unnecessary risks.

Among all of the many changes lending banks have had to undergo in the past few years, the most significant change came with capital requirements. Ironically, the regulations intended to fix all of the past problems in the banking system has come with a backlash. Banking regulations adhering to Basel III requirements, more often than not, has created stricter rules on credit availability and has increased lending costs. With this occurring, higher costs for a home loan in Houston, Dallas, and Austin is becoming an ever increasing reality. Continue reading

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Although they can be a very useful tool for a lot of people, lump sum reverse mortgages are not for everyone. A reverse mortgage is a loan that will let a homeowner borrow money against the equity in their home. The primary difference between a reverse mortgage, and a refinance or a line of credit, is that you will not have to make any monthly payments. The loan is to be paid off when you sell your home, move out of the home, or pass away. If you pass away, the home will be foreclosed on, and sold to pay off the loan.

To qualify for a reverse mortgage you need to be at least 62 years of age and have clear title to your property. If you still owe money on your home, it must be a relatively small amount that would be able to be paid off with the proceeds of your reverse mortgage.

There are different types of reverse mortgages available. You may receive equal monthly payments as long as you live in the home, you may receive equal monthly payments for a specific period of time, or you may elect to choose a lump sum of cash. Many homeowners elect to go with an option that gives them regular monthly payments because they can use this money to live on during their retirement. Some people do elect to receive a lump sum, but as stated earlier, lump sum reverse mortgages are not for everyone, and there are some important points you need to be aware of.
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There are hundreds of home mortgage applications being submitted every day, but many potential buyers are still being denied. If you want to get a home mortgage or refinance loan in the state of Texas, you need to have all of your financial accounts, credit reports, and credit score in line before you apply. The lending market is tough and finding the right lender who is willing to finance your dreams may be hard. Before applying, there are some things you can do to increase your chances of being granted a home loan.

The credit score is one of the firs things that lender will look at. The FHA loan is the easiest to get, especially for those with lower credit scores, and without a lot of money to put down. To get a FHA loan most lenders are going to expect you to have a score above 620, and some lenders may want a higher score than that. With a low score you can’t get approved, so if you don’t have the right credit score, you’ll want to work on it before you apply. If you have a high credit score, that is going to be beneficial, but it doesn’t guarantee approval. Continue reading

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Many people got into financial trouble during the recession when home prices decreased dramatically and homeowners were left with a mortgage that exceeded their homes value. While some people chose to stick it out and hope for a rebound in home prices, others decided to simply walk away from their homes which left many banks on the hook for these homes. While that is mostly in the past and we are not seeing significant declines on homes purchased since the recession began, what is the best advice for individuals who are considering using a home loan to purchase a home during these turbulent times?

All real estate, as many realtors like to mention, is local. What may be true in one location will not necessarily have the same impact in another. This is true even of major worldwide events. Even during the recession, home prices in certain areas, like New York, did not decrease nearly as much as they did in other locations such as Florida. As such, this article is concentrated on Texas and the specifics of the housing market in this location. Continue reading

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Frustrated Texans who were recently denied a home loan can take heart, as several opportunities exist to gain approval of their mortgage application. The simplest alternatives involves simply re-applying with a good alternative lender or Texas mortgage company, while others … Continue reading

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When a person first gets married, naturally the next step would be to buy a home. In this economy, it is hard to know what to buy and how much to pay for it. The process of buying a home … Continue reading

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