Don’t Get “Financially Frisked” – Consider a Stated Income Mortgage

We recently had a client, a small business owner with a solid credit history, who applied for a jumbo loan. He had his financial documents in good order, so we decided to process a conventional loan application. The process was, frankly, excruciating. The requirements were ever-changing and the documents that were required by the underwriter were


Consider Your Outdoor Space When You Build Your New Home

Today’s trend toward outdoor living – think outdoor kitchens, posh patio furniture, covered verandas wired for TV & speakers, firepits and other little luxuries- encourages us to think of the outdoor environment of the home hand-in-hand with the house itself. Especially during hot Texas summers, many buyers of luxury homes consider swimming pools a necessity, not […]

How to make a jumbo loan a conventional loan and save

In the Texas the conforming limit is 417k, this means any loan 417k or lower qualifies for a conventional loan and the lower conventional mortgage rates. In Texas, we are very lucky in that there are a number of options for jumbo purchase amounts.  One of these options is to turn a jumbo non conforming […]

Low Down Payment – Jumbo Mortgage

The jumbo property market in Texas is in much better shape than most markets around the country. However, sales are still slow in the upper end for a few reasons. But, one of the least discussed is the large down payment and reserve requirements for jumbo mortgages. The down payments required are generally 20%-25% of […]

How do I find the best Jumbo loan rates in Texas?

To answer this question, we first need to understand what makes a loan a jumbo loan or a Jumbo Mortgage. Jumbo loans are loans with higher dollar amounts which may not be sold to Fannie Mae or Freddie Mac. These types of loans are known as non-conforming loans. In Texas, the current jumbo home loan […]

Worried About Being Called up for Active Duty?

No Equity? – Still want to Refinance

Homeowners with little or no equity in their homes still have time to take advantage of the Government’s Home Affordable Refinance Program. The HARP program is designed for borrowers with underwater mortgages but who are otherwise qualified and responsible borrowers.  This program allows borrowers to refinance their primary residences up to 105% loan to value […]

How Do I Find The Best Jumbo Texas Mortgage Rates?

Non-conforming loans or Jumbo loans are loans with higher dollar amounts which may not be sold to Fannie Mae or Freddie Mac. A Texas Mortgage that is above the conforming loan limit of $417,000 for the year 2010 is considered to be a Jumbo loan. Non-conforming Texas Mortgage loans often come with a higher rate […]

DEFINITION: Jumbo Loan, Jumbo Loans, Jumbo Home Loans, Jumbo Mortgages.

A Texas jumbo loan is any mortgage loan that exceeds the conforming loan limit of $417,000 for the year 2010. Jumbo loans are considered to be non-conforming loans which mean they are not eligible for purchase by a GSE or government-sponsored enterprise (i.e., Fannie Mae/Freddie Mac) and instead are held on the lenders books as […]

Want to Buy a Home at a 50% discount?

The Good Neighbor Next Door Sales (GNND) program is a federal revitalization initiative through HUD that provides homeownership at a substantial discount to qualified buyers.  Under this Texas  Home Loan program, HUD offers a 50% discount on the list price of a qualified home as long as the buyer commits to live in the property […]