Wade Betz δημόσια
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How can you get rid of your mortgage insurance? The answer depends on your loan type. Removing mortgage insurance is different for conventional and FHA loans. However, most people may not realize that the removal of mortgage insurance, regardless of loan type, is actually dictated by the federal government. If you take out an FHA loan, your ability…
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Equity loans are treated differently here in Texas. Here are the things you need to be aware of. You may not realize it, but we actually have some of the most conservative equity laws in the country down here in Texas. They limit the maximum loan-to-value of your financing to 80% of the home’s value. Regardless of the financing you are doing, the s…
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Have you thought about buying a home for your parents? Their level of mortgage qualification goes a long way in determining how the transaction will play out. Many people would like to buy a home for their parents, but don't know the best way how. The answer largely depends on the circumstances of the parents. Fannie Mae guidelines allow a child to…
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A marriage ending is a difficult situation, but deciding on the outcome of your home and mortgage doesn’t have to be another headache. If a marriage ends, what happens to the house and the mortgage? It's important to know the plans for the home. You can refinance to remove one person from the loan or sell the house. Texas is a community property st…
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Can you trust online credit reports if you are thinking of buying a home? Unfortunately, the answer is no, and there are a few reasons why. You have probably seen advertisements for free credit scores online. However, those sites can be fairly misleading. Why? Those websites are selling their own version of a credit report, which is not the same as…
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Contrary to popular belief, mortgage insurance can benefit you greatly as a consumer, and here are the three different types you need to know about. To many people, the topic of mortgage insurance carries a negative connotation, but it shouldn’t. It has its place in the mortgage process and can benefit you as a consumer. There are three main types …
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Today you'll learn about an alternative to making bi-weekly mortgage payments that will save you money and achieve the same effect of making an extra payment every year. We often get questions from clients asking about bi-weekly payment options. The fact is, once you close on a transaction, you're going to get inundated with junk mail, much of whic…
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Choosing the right lender is critical if you want to close on time, and today I want to tell you why. Closing on time is a promise that every lender makes, but the reality is that very few actually do it consistently. When I have an initial conversation with a borrower and I ask them what’s most important to them, I’ll often hear things like the in…
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Using a piggyback loan when buying a house can result in giving you a lower interest rate over the life of the loan. What makes piggyback loans beneficial to home buyers? Why would a recast be more advantageous for you? A piggyback loan is when you take out a single loan for 80% of the home’s value and either 10% or 15% of the remainder to purchase…
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Financing a new construction home isn't the same as financing for a resale home; you have two main options. Allow me to explain the difference between the two. When buying a new construction home, the financing works a bit differently. But how? There are basically two ways to fund new construction—a one-time close or a two-time close. Each has its …
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Junk mail from credit bureaus and marketing services can get annoying. Here are a few ways to limit the amount of junk mail you receive. After you close a real estate transaction, there are certain documents that have to be filed with the county courthouse. The unfortunate thing is that county courthouse records are public access, and marketing com…
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When you buy a new construction home, there are two options when it comes to financing: a one-time close or a two-time close. Tune in to learn the pros and cons of each. When you buy a new construction home, there are basically two financing options available for you: a one-time close or a two-time close. Each option comes with advantages and disad…
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Whether you’re buying or refinancing, a low appraisal can make things much more complicated. We’ve got some tips to share on how to remedy the situation. Many people have no idea what to do if an appraisal comes in low on a home they are trying to buy or refinance. There are a number of different options you have based on what kind of product you h…
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Today, I'd like to talk about everything that goes into the loan process. What all goes into the loan process? The loan process starts once a lender has a 1003 Form, also known as a loan application. With that, they’ll pull a credit report. From there, they’re going to request the specific documentation from you in order to pre-approve you for your…
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Today, I'd like to talk to you about what documents you need to get pre-approved for a home loan. Click Here to request a Consultation Click Here for a Pre-Approval Request To get fully approved for a mortgage, you need to make sure all of your documents are in order. We’re going to talk about some of the documents you will definitely need in order…
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Today, I'd like to talk about the difference between pre-qualification & pre-approval. Click Here to request a Consultation Click Here for a Pre-Approval Request You may have heard real estate professionals tell you that you need a pre-approval letter or a pre-qualification letter to buy a home. Do you know the difference between these letters? In …
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