New Fannie Mae 5% Down for 2-4 Unit Multi-Family Homes What is Considered a Multi-Family Home? A multi-family home is a single building that’s divided to accommodate separate living quarters. Examples include duplexes and townhomes as the most common property types. They can range from a duplex or triplex, which has 2-3 dwellings within a single building, to homes with up to 4 units called quadplexes. Buildings with more than 4+ units are typically considered commercial properties and are not applicable for the 5% Down Payment Fannie Mae loan program. The Basics to Qualify: 1. You must live i ..read more

New 2024 Mortgage Conforming Loan Limit Increase. Take advantage of the new conforming loan limits for your next Conventional or VA home loan! Qualify today for conventional and VA loans with the new 2024 FHFA conforming loan limits: $766,550 for VA and one-unit conventional loans (increased from $726,200) $1,149,825 for one-unit loans in high-cost counties (increased from $1,089,300) We offer a variety of home loans and are here to help you navigate the mortgage process. As a leading Texas Mortgage Broker our goal is to provide you with the best customer service, lowest rates and ..read more

TEXAS DSCR MORTGAGE LOANS – INVESTOR FLEX OUR TEXAS DSCR MORTGAGE LOANS ALLOW BORROWERS TO FINANCE UP TO 20 PROPERTIES BY USING EACH PROPERTY’S MONTHLY RENTAL INCOME TO QUALIFY FOR INVESTMENT PROPERTIES Investor Flex is our exclusive Debt Service Coverage Ratio (DSCR) loan program. It offers 4 different loan options for real estate investor borrowers using the prospective rental income of the property, rather than the borrower’s income, to qualify. The loan has no traditional income requirements – no paystubs, no tax returns, no w2’s or 1099’s. Its a great way to expand your real estate ..read more

Bank Statement Mortgages in Texas A FLEXIBLE LOAN OPTION FOR SELF-EMPLOYED BORROWERS If you’re self-employed, it can often be difficult to prove income when getting a mortgage loan or it can be a hassle to gather the necessary income docs needed to apply. We have an extensive portfolio with our Bank Statement Loan options – they’re the most advanced and aggressive available on the market. Which Color Option works best for you? As rates continue to fluctuate we will review your specific scenario to determine the eligibility based on your credit score, down payment, reserves, and loan size ..read more

Conventional 1% Down Payment Assistance Program. This program is designed to help borrowers with down payment funds. The program does have income requirements based on 80% of the Average Medium Income for the county: https://sf.freddiemac.com/working-with-us/affordable-lending/home-possible-eligibility-map Example: Montgomery County 80% Area Median Income: $72,640 Ready. Set. Home. Move In With 1% Down You put 1% down and your lender pays an additional 2%, for a total of 3% down Use gift funds for your entire down payment Keep more money in your pocket for furniture, house repairs and ma ..read more

As the new year begins, I would like to thank you for your continued support over the years. Our team has over 19 years of mortgage expertise, and we will continue to strive to provide the best possible service we can within our community and all over our great state of Texas. Best Texas Mortgage Lender providing the lowest rates and our Award Winning Service 2023. New Home Loans  Refinance, Cash Out. Conventional, FHA, VA, Jumbo. We are excited to announce we have been awarded several awards for 2022: Best Mortgage Brokers in Houston Top 1% producing loan officers in Texas ..read more

TEMPORARY RATE BUYDOWN Buydown: A Way To Reduce Interest Rates HELP BORROWERS LOWER THEIR INTEREST RATE BY UP TO 2% AT THE START OF THEIR LOAN Giving clients extra flexibility with a lower monthly payment by offering them a Temporary Rate Buydown to lower their interest rate at the start of their loan. It’s a great option for borrowers who have excess seller concessions to use — and want to take advantage of a low fixed rate. Available for: Conventional primary and second home purchases FHA and VA primary home purchases Seller-paid 1- and 2-year buydown options 2-1 buydown of 2% in the ..read more

Rising Interest Rates in the Housing Market – Mortgage Rates in Texas Stephanie Marini, CFP®, CRPC® September 23, 2022  Mindset Wednesday (Sept. 21), to no one’s surprise, the Fed announced an increase to rates of 75 basis points for the third time in a row, an overall fifth increase this year. Chair Jerome Powell maintains that a strict monetary policy is the way to fight inflation, which increased in August despite projected declines. Hopefully, we will start seeing our grocery bills shrink, but the biggest impact we’ve seen with these rate increases has been within the housi ..read more

New 2023 VA loan limits in Texas won’t be released until November but we’re honoring them now effective September 11, 2022 for VA loans locked starting today. $726,200 for regular 1–4 unit VA loans (increased from $647,200) $1,073,000 for regular 1–4 unit VA loans in AK and HI (increased from $970,800) VA jumbo loans starting $1 over the county loan limit up to $4M https://www.va.gov/housing-assistance/home-loans/loan-limits/ VA-backed Veterans home loans VA direct and VA-backed Veterans home loans can help Veterans, service members, and their survivors to buy, build, improve, or refi ..read more

The new 2023 Conventional Loan Limit Increase goes into effect immediately for Texas Premier Mortgage and its clients at $726,200 the previous loan limit for most counties was $647,200. This will apply to your next purchase, refinance, or home equity cash-out mortgage loan. The loan limit increase is welcome news as most homes across the country have increased anywhere from 10% – 20% over the last few years. The recent boom in property values has left many buyers stuck in-between qualifying for a conventional loan vs a jumbo loan. Jumbo loans typically require more down payment costs on a ..read more