Houston Mortgage Blog

Tax filing blunders cause otherwise credit worthy borrowers to effectively disqualify themselves. In part 1 of this series we discussed how unreimbursed expenses and not declaring profit on self-employment can limit your borrowing capacity. Here we will go over blunders that if you commit them you could outright eliminate any possibility of qualifying for that next mortgage.

With so many people around the country losing their homes in today’s economy, this question is just part of our everyday life.  I receive numerous calls from people that are late on their mortgage payments and need our help to avoid foreclosing on their homes.  Many times people wait until it is too late for anyone to be able to help.

Let’s face it you’ve heard it before and probably have from time to time have taken the advice from your uncle Freddy or your really smart tax-preparer who explains how they can help you avoid $1k, $2k or much greater sums of money in taxes just by using some available tax deductions. They may even be legal. But there-in lays the problem.  Just because the deductions are legal doesn’t mean they won’t come back to bite you when it comes time to qualify for financing of your dream home or refinancing that high interest loan. In this article I will highlight two blunders and provide others in a series of 5 articles

As one of the best mortgage companies Houston has to offer, at HomeStart Capital we come across many cases where a loan approval becomes difficult to obtain. These difficulties could be avoided if borrowers had been informed in advance.

Advertisements everywhere sell the benefits of refinancing your home loan into a new 30-year fixed rate mortgage. These loans offer significant benefits, including low payments and historically low rates. That being said, going to a shorter loan is an even better idea for many homeowners.

You may have heard that mortgage rates are again at 50yr lows. This is true but the bigger question you may be asking yourself is “How do I decide if refinancing my home mortgage is the right step to take?”

Knowing the difference between a pre-qualification, a pre-approval letter, and a true pre-approval will help you position your self for a complication free closing.