Author Archives: theloanman

Planning to Buy a Home: Do You Know Your Debt-to-Income Ratio?

When you’re planning to buy a home, one of the factors that will determine whether or not you’ll be approved for a Texas home mortgage loan is your debt-to-income ratio (DTI). What is a DTI, and how is it determined? … Continue reading

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4 Steps to a successful Texas home mortgage loan

In spite of what the ads promise, getting a home mortgage loan is not as simple as clicking a mouse or making a quick phone call. And no, it can’t be done in one day. Step #1: Become pre-approved for … Continue reading

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Which is smarter – to buy or build a house?

  Should you buy an existing home, buy a newly constructed home, or have a custom home built? The relative purchase price of each is one consideration – but only one. And the purchase price is only one piece of … Continue reading

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Real Estate and the Supreme Court

While news commentators go on and on about how confirmation of Donald Trump’s pick for the Supreme Court might affect issues like abortion and immigration, there’s been little or no discussion about how it could affect real estate. In fact, … Continue reading

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Is there a lien on your property?

Your first impulse might be to say “Only my home mortgage,” but you could be mistaken. Your home could have a lien that you are not aware of. Liens fall into four primary categories: Mechanical liens: These could result from … Continue reading

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Can Your Mortgage Loan be Assumed by a New Buyer, or Does it Have a Due on Sale Clause?

  The general assumption today is that all loans have a due on sale clause. This is the clause that simply says “If you sell the house, you have to repay the loan in full.” It only makes sense, because … Continue reading

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Down Payment Myths to Ignore

If you’ve begun saving up for the down payment on a home, and if you’ve mentioned your goal to friends and family, you’ve probably been getting plenty of advice. Some of it, of course, is good advice. For instance, Mom … Continue reading

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Understanding Real Estate Jargon

  When you set out to purchase or sell a home, you’ll likely be confronted with an abundance of terms that you simply don’t use in everyday life. Your agent, your lender, and others associated with the real estate industry … Continue reading

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Pay attention! Your Closing Disclosure Form is important.

First, what is a Closing Disclosure Form? It’s a document that outlines the terms and costs of your home mortgage. When you first applied for your loan you were given a Loan Estimate, also known as a good faith estimate. … Continue reading

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Which loan is right for you – Conventional or FHA?

When you’re planning to buy a house and will need a mortgage, and you’ll have choices. While a few do qualify for VA or Farm Home loans, most must choose between Conventional and FHA. Right now, about 40% of all … Continue reading

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