Lone Star Financing – Blogs
Did you know that the definition of a first-time buyer in isn’t restricted to people purchasing their first property ever? According to the Department of Housing and Urban Development, it also includes the following: A person who has not owned a residence for at least 3 years. A single parent who previously co-owned a home
Last November, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve released a proposal that would increase the appraisal requirement for home sales from $250,000 to $400,000, meaning that certain home purchases of $400,000 and less would no longer require an appraisal
Millions of mortgage applications are completed and sent to lenders each year. Part of the steps required include the lender gathering information about you—and sometimes those questions can seem invasive. Most of the questions are required as part of your approval. Let’s take a look at the things a mortgage lender will ask. Credit Lenders
The mortgage industry examines a number of factors to determine not only if you qualify for a mortgage, but also what interest rate you’ll pay. An excellent rate on a mortgage is about a lot more than comparison shopping. It’s also about much more than just your credit score. Mortgage rates can differ by several
A property appraisal is different from a property inspection. The home appraiser’s job is to determine the current value of a house or other property. The appraiser, of all the people you encounter during a home purchase, is the one you’ll probably interact with least. Looking for issues in the home that the buyer should
For many Americans, purchasing a home was a measure of financial success for decades. After the subprime mortgage crisis, people realized buying isn’t always smart but now it seems like we’re taking it to the other extreme. You need to understand the reasons for both to make the proper decision. Normal buying pros: You eliminate
We Serve All of Texas!
No matter what part of Texas you live in, Lone Star Financing has the resources to serve you. Specializing in New Home Loans; FHA and VA mortgages; and Mortgage Refinance. Find your city below and discover how we’ve helped your neighbors finance their homes!