How much home can I afford based on my salary? It's one of the most important questions when shopping for a new home. Let's explore a few essential factors determining "How Much Home Can I Afford Based on My Salary,"…
Seller Concessions Pros and Cons Seller concessions can make a home purchase more affordable for buyers, but can also impact the seller's profit and appraised value. Let's explore the pros and cons of seller concessions, negotiating for benefits, limits by…
First Time Home Buyer in Texas is someone purchasing a home for the first time or someone who hasn't owned a home for at least three years. With so many different loan programs, down payment options, and confusing phrases like…
Mortgage Escrow Account – Key Takeaways A mortgage escrow account, or a “bank escrow,” is a financial buffer for property taxes and insurance payments. The money in the account technically belongs to the borrower but is managed by the lender.…
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…
