The Positive Effect of Home Affordability Thanks to COVID-19

Written by Katie White, Loan Officer, NMLS# 848270

June 8, 2020

If you're looking to focus on something good that has come about thanks to COVID-19, here it is - more opportunity through home affordability. Although the economy has suffered greatly, mortgage interest rates have come to a point where they are in the lowest they've almost ever been. NOW is the time to purchase a home or refinance. THIS is your chance.

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What You're Not Being Told About Forbearance and How It Could Hurt You

Written by: Katie White, Loan Officer, NMLS# 848270

May 8, 2020

You've probably seen a lot of articles from Mortgage Loan Officers talking about how "Forbearance is not Forgiveness." This is certainly true, and we'd like to add more information to this conversation that can protect you, if you have any interest whatsoever in applying for a forbearance. The truth is that if you even apply for a forbearance, in many cases, you will not be eligible for a refinance for 12 months.

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Realtor Update: How the Mortgage Crisis of 2020 is Impacting our Clients and our Business

Written by Katie White, Branch Manager & Loan Officer, NMLS# 848270, Fairway Independent Mortgage Corporation

April 16, 2020

Loan Products and many Mortgage Lenders are exiting the market at an alarming pace. We want you, our Realtors, to be equipped with some key knowledge points that will prepare you for what’s happening to some clients and what could happen with yours. We want to empower you to write contracts that protect your clients in this climate.

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Why December & January might be the best months to buy or refinance a home

Katie White, Loan Officer, NMLS#848270

November 15, 2019

Looking for a good deal? December/January are typically busy months for us in the mortgage industry. Truth is, these are two of the best months to buy or refinance a home. Why? Here are 3 great reasons… CLOSING COSTS. Part of these costs are calculated based on how much of your taxes for the calendar year have not yet been paid. When you pay the last installment of your taxes in December for the year, you’ll only need to pay to impound 1-2 months. This could help you bring $7,000+ less in cash you’d need to bring to the closing table (based on an average priced home & property taxes in Austin, Texas).

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Can you refinance your cash-out refi?

Katie White, Loan Officer, NMLS#848270

November 6, 2019

A new law about home equity refinance is going to help a lot of Texans :) Recently, we had a client who reached out to us to inquire about refinancing a home equity loan. She had heard the phrase "once a cash-out refi, always a cash-out refi." The good news is, that is no longer necessarily the case in Texas! Thanks to a law that changed in January 2018, that many people aren't aware of, some lenders offer the opportunity for borrowers to refinance a home equity loan into a non-home equity mortgage loan.

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The truth about that huge credit from your builder's lender

Written by: Katie White, Loan Officer with Fairway Independent Mortgage Corp.

October 17, 2019

Most builders nowadays offer a significant discount to potential homebuyers if they use the builder’s in-house mortgage lender to purchase their home. We wanted to show you a real life example of how these discounts are often times deceptive. Here is real Good Faith Estimate (we call this the “GFE”) that a local builder’s lender sent to our client. They offered a $5,000 “seller credit” on the estimate, which is reflected on the bottom right part of the page. What most people miss is that in order to be able to offer this credit, the builder charges the borrower a higher interest rate AND thousands of dollars in fees.

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3 Lies that Hold People Back from Buying a House

Written by: Katie White, Loan Officer with Fairway Independent Mortgage Corp.

February 6, 2020

We frequently meet people who want to buy a their first home or upgrade, but their reasons for thinking it’s not possible are usually based on LIES and and fear around the buying process. Let’s clear some of those up. Today, I'm going to empower you with FACTS that could change your life. Lie #1 – I need to have a huge down payment saved up in order to buy. TRUTH - There are lots of renters in Austin who would love to own their own home, but think they need to have 20% saved to put down. This is simply not true! In fact, there are several ZERO down payment programs available. Many of our clients only put 3-3.5% down and some clients use “gift” funds from a friend or relative to cover that cost.

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