Register Real Estate Advisors

Did you know that the average rate for a 30 year fixed mortgage over the past 30 years has been about 6.5%?

Did you know that a borrower who earns $100K per year and has $1K in monthly debt can typically be approved for a loan amount of about $350K at 6.5%?  That
same borrower can get approved for about $400K at 4.5%.  (Assuming a 3% tax rate, 20% down payment, and $100 per month for homeowners insurance.)

Low rates mean you can buy more house for your money!  Call me today to get pre-approved for your mortgage.  At RREA, we have agents ready to show you any home on the market!  Call 281.288.3500 Monday-Friday 8:30a.m.-5:30p.m.

Ever been fooled by the Free Credit Report online? They do send you a free credit report, but you have to pay to get your FICO score. If you are interested in purchasing a real estate property before the end of 2013, please call me for your FREE Credit Report and it will include your FICO Score. I want to help you with your next mortgage. I am available 24/7 online and you can apply from the RREA.com website. Go online to apply or call me today to get your Free Credit Report with your current FICO Score – 281.288.3500 and ask for Terry. Getting your credit score has never been this easy!

I had a borrower that was employed for many years as a W2 employee but transitioned to a 1099 independent contractor and/or self employed status working with the same company. This created a major problem as the borrower was self employed for only 6 months and the mortgage guidelines call for a 2 year history of self employment income.

My first step was to find out what the borrowers assets consisted of. The borrower had an investment account that I felt would do what was needed to help me close this loan. With the borrowers permission, I contacted the investment account representative and had her develop a monthly automatic withdrawal agreement for a specific dollar amount that would put the borrowers Debt to Income Ratios at an acceptable level for loan approval. The investment account had to have enough money in it so that the monthly withdrawal amount we needed could continue for a 36 month period after the closing.

If you have a borrower that is self employed and their adjusted gross income is not enough to qualify them or perhaps they are recently self employed and their income cannot be used to qualify, I have a legitimate option to consider. Terry Traylor 713 705 1244.