Dallas Mortgage Lenders More Open to Underwater Mortgages under HARP

Homeowners who are reeling from their underwater mortgages or those who simply need help with restructuring their Dallas, TX mortgage loans can turn to reliable mortgage refinance professionals—such as those from Churchill Mortgage—for much-needed advice and assistance. Even those who are not in the red or are purchasing a home for the first time will find such professional assistance invaluable. After all, rather than run into financial troubles down the road, it certainly makes sense to get everything right from the get-go.

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Reputable Dallas Mortgage Lenders Discuss the Benefits of VA Loans

Prior to the financial crisis of 2007-2012, many lenders were offering no down payment loans. However, after the housing market tanked, this option largely disappeared. As the VA mortgage loan program still offers the no down payment option to borrowers in Texas, eligible home buyers can channel the extra cash into their emergency funds. These emergency funds can be used to pay for repairs or renovations, among other expenses.

Dallas mortgage loan programs, like the VA mortgage loan, also offer other unique benefits. Unlike FHA loans and other low down payment loan programs, there is no private mortgage insurance (PMI) with VA mortgage loans. Apart from assisting home buyers with their monthly cash flow, no-PMI mortgage loans also decrease the long term costs of owning a home.

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Own Your Dream Home with Help from Trusted Dallas Mortgage Companies

For the previously unemployed, purchasing one’s dream home is likely to be a top priority. However, the home acquisition process requires careful thought to avoid any miscalculation. Among other things, one needs to secure a reasonable financing arrangement with the help of established Dallas mortgage companies.

Keep in mind that some mortgage companies in Dallas, TX set special requirements before granting loan approval. Some companies prefer applicants with stable employment records for the past two years, with no long gaps in between. Most lenders also pay particular attention to employment stints within different industries. In any case, some loan providers are likely to approve your loan application if you get a new job that pays a bigger income than your previous one.

http://dallas.churchillmortgage.com/industry-news/own-your-dream-home-with-help-from-trusted-dallas-mortgage-companies/

Finance Single-Family Homes for Investment with Dallas Home Loans

"DALLAS — Fort Worth and Dallas sit in the first and second spots among the top 10 housing markets in the country for investing in single family homes, according to new data compiled by HomeVestors (known as the “We Buy Ugly Houses®” company) and Local Market Monitor. Job growth, particularly in lower paying jobs, population growth and relatively low home prices are factors making investments in single family homes as rental properties a nearly risk-free opportunities in Fort Worth and Dallas as well as several other markets across the country, explained Ingo Winzer, president and founder of Local Market Monitor.Such news is certainly encouraging, particularly if you’re looking to purchase real estate for investment purposes. However, way before you can rent out your property and enjoy a steady cash flow, you need to secure appropriate financing to buy the single-family home you have in mind. Regardless of your objective for purchasing real estate property in Dallas—i.e. whether as an

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Know Before You Owe: Why Your Dallas Mortgage Lender Will Love 2015

"A new mortgage form is coming soon to a Dallas mortgage lender near you. Officials promise that it'll make mortgages a whole lot easier to understand. Part of the reason for Americans' mortgage woes can be traced to the presence of jargon. Does my loan come with a penalty for paying early? How much will I pay for at closing day? Studies show that a third of American home buyers don't have a clue about mortgage and its nature."

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Exercise Caution About Paying Early, Dallas Mortgage Lenders Advise

"Prepayment may sound like a good idea but only if the contract tells you that it's fine. Certain Dallas mortgage lenders, for instance, may impose prepayment penalties that are prevalent in low-interest loans. The amount varies by lender, but experts estimate it can reach up to six months worth of interest. Prepayment policies, for this reason, should be included in your list of questions when shopping for mortgage. Read the terms of Dallas mortgage loans from providers like Churchill Mortgage to the letter; a lot of people have been caught off-guard in their mortgage policies due to the simple mistake of not reading the fine print. Don't be one of them."

http://dallas.churchillmortgage.com/industry-news/exercise-caution-about-paying-early-dallas-mortgage-lenders-advise/

Dallas Mortgage Companies More Flexible with Mortgage, Study Shows

"The news is a welcome relief for many in Texas, whose credit scores aren't as perfect as local mortgage companies in Dallas, TX would want it to be. Texas has the third lowest average credit score in the country at 718. Despite recent improvements, the Center for Public Policy Priorities reported major cities in the state having average credit scores below 700. As of 2012, Austin has the highest average credit score of 699 among the six cities in Texas with a population of over 500,000. Fort Worth has the lowest at 666. The largest gain went to Dallas with three points, from 667 in 2011 to 670 in 2012."

http://dallas.churchillmortgage.com/industry-news/dallas-mortgage-companies-more-flexible-with-mortgage-study-shows/