Key Takeaways: FHA MIP costs were reduced from 0.85% to 0.55% Potential savings of up to $1,056 annually and $31,680 for a $350,000 30yr mortgage. In Texas, FHA loan limits are $472,030 for single-family FHA home loans. Federal Housing Administration…
Understanding 1031 Exchanges and Timeframes The 1031 Exchange 45-Day Rule and 180-Day Deadline Tax deferred real estate allows investors to defer capital gains taxes on the sale of their assets through a 1031 Exchange. A crucial aspect of this process…
Key Takeaways Mortgage interest rates in Houston, including current FHA mortgage rates in Texas, are constantly changing. Silver Mortgage, a trusted mortgage lender in Houston, offers personalized assistance to help you understand the current market for the best mortgage interest…
Reverse Mortgage Eligibility Understanding Reverse Mortgage Eligibility for an FHA (Federal Housing Administration) HECM (Home Equity Conversion Mortgage) is crucial for homeowners considering this financial option. Let's explore the requirements related to age, homeownership, and primary residence for reverse mortgage…
DSCR Mortgage Loans Debt Service Coverage Ratio (DSCR) mortgage loans are an essential financing tool for real estate investors and business owners, particularly in states like Texas and Florida. DSCR loans are based on the property's ability to generate income…
Owning a home is often seen as a significant financial milestone. However, saving for a down payment can be daunting for many prospective homeowners. Generating a large sum of money to make a down payment can feel insurmountable. As a…
APR and Mortgages: APR stands for Annual Percentage Rate, and it represents the cost of a mortgage over the life of the loan, including the interest rate and other associated fees or charges. APR is a standardized way of expressing the cost…
What is the VA Mortgage Funding Fee? (Updated 3/13/2023: new lower funding fees, site updated) The VA Mortgage funding fee is a one-time fee paid to the Department of Veterans Affairs by eligible veterans using their VA Home Loan benefit. The fee…
Have too much stuff cluttering your home? Here are a few helpful tips to make your home more storage-friendly, even in a small space. 4 Helpful Tips for Storing Stuff At Home 1) Use Vertical Space Create vertical storage systems.…
There are rarely hard and fast requirements for a credit score when it comes to getting approved for a loan. A higher credit score will result in more favorable loan terms, such as a higher loan amount or lower interest…
