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Jennie Said:

Mortgage business in Texas?

We Answered:

I am a mortgage broker in Ohio. I have been generating my own leads for two years now. I am about to close on a loan for 340,000 that I self generated. All you have to do is run a small add in a small neighborhood newspaper. Say something like why rent when you can own. Homes available now in _____. Call for details. When you take the call, tell them who you are ,and see if you can get them done. Once you get them done ,than contact a Realtor and say," this guy needs a house and he is already been approved". Do you have any homes you can show them? You will have a Realtor friend for life.

Debra Said:

Realtor/Mortgage lender fraud? PLEASE HELP!!?

We Answered:

There is a huge difference between fraud being committed by a Lender or Realtor and a Buyer who didn't have a clue as to what they were doing getting in way over his or her head.

The fact that you are young has nothing to do with anything. There are plenty of young people who research what they are doing before they do it so that they don't enter into a deal that isn't in their best interests.

The Texas AG's Office has a Mortgage Fraud Task Force that you can contact if it indeed was fraud.

Here is a link to the Texas Office of The Consumer Credit Commissioner that lists what is considered predatory lending practice in Texas, along with the Texas Code that addresses the issue:

http://www.occc.state.tx.us/pages/agency…

I hope you work things out. Good Luck.

Terri Said:

Mortgage/ Real Estate Lenders in Houston Texas for Buyer with Blemished Credit?

We Answered:

I love how people who have no idea about a subject answer these questions and misinform people.
Judy is wrong, if you have no credit or blemished credit you do not need to put 20% down to get a mortgage.
You will need to get an FHA mortgage which will allow you to buy a home with only 3.5% down and they will allow alternative trade lines for borrowers who have little or no credit.
If you have bad credit where you've been late on you payments in the last 12 months you will have some troubles. Most lenders require at least a 620 mid score these days so if you are under that you will need to work on bringing your scores up.

You should start by contacting a mortgage banker/broker.

Anthony Said:

Any recommendations for a mortgage lender for home purchase?

We Answered:

Talk with several brokers and give them a hypothetical scenario to work with. For example I have been on same job for 3+ years and make 50K per year, I have a 730 mid score and can put 20%down. My purchase price is below a jumbo rate loan and I have very low credit card debt. Now we know your actual situation is different but they can price your loan based upon unverified information. They cannot however guarantee your rate until your info is verified and a rate is locked. Once they price you based upon the scenario you can see the difference between them based on a even comparison. Then when you feel one of them has your best interests in mind and can give you the rate your comfortable with allow that person to pull your credit and begin your loan. Often people will shop lenders and have too many credit reports pulled as a result, that can sometimes undermine your end rate. Dont allow anyone to pull credit until you are confident in their ethics and abilities. As for points you can ask the seller to pay 1 point for you and both you and the seller can deduct it from your taxes. Regarding references I would ask a few people whom they recommend but keep in mind some of them might have had a great rapport lender but paid a higher rate and dont realize it.

Kyle Said:

I am a Account Executive for a mortgage lender in Texas...?

We Answered:

Well I just feel bad that nobody answered this question, but no I'm not a mortgage broker. If I need a mortgage in Texas though I'll keep you in mind....