Loan Programs and Information Archives | Page 13 of 14 | The Richard Woodward Team Nexa Mortgage

What is PITI and how does it affect your mortgage payment

What does PITI consist of? Breaking Down your monthly mortgage payment. PITI is the handy acronym for your monthly mortgage payment. It’s pronounced like the word “pity” and the letters stand for the four parts of that monthly payment: P stands for Principal That’s the part of the monthly payment used to pay down the…

By now, I’m sure that you have heard about the Equifax security breach. My friends at Rising Point Solutions put this information together for you. At the Richard Woodward Mortgage Team, we are always looking for ways to help our customers. While this isn’t the largest security breach that has happened, this is significantly larger…

How to buy a home with a reverse mortgage

Reverse Mortgages are changing effective October 2, 2017. The Trump administration is planning to raise premiums and place tighter loan limits on some borrowers in a mortgage program that helps seniors supplement their incomes. This Wall Street Journal article indicates that HUD says the program needs a sounder financial footing. The bad news is that…

Why are you still renting? Call (214) 945-1066 or apply online now.

5 things Plano home buyers should do before they start looking at homes. Get pre-qualified for a mortgage. See us and we’ll run the numbers to tell you the mortgage size and terms you qualify for to purchase your Plano home. This gives you the price range of homes to look at in Plano and…

First Time Home Buyer Programs from the Richard Woodward Mortgage Team 214.945.1066

Dallas Texas First time home buyer programs are great to help you buy your first home. If you are a first time homebuyer, the prospect of owning your first home is exciting and perhaps daunting. There are several items to consider such as landing a good real estate agent, searching for the right home, and…

Great News for Homebuyers |Now Easier to Qualify for a home loan

Great news homebuyers, it is now easier to qualify for a Fannie Mae conventional mortgage. Effective July 29 Fannie Mae has made changes to their automated underwriting engine. These changes enable lenders like the Richard Woodward Mortgage Team of Service First Mortgage the ability to create more homebuyers. We are very happy that Fannie Mae…

Are you pre-qualified or pre-approved for a home loan? Most people don’t know the difference between a Pre-qualification and a Pre-Approval. As a top Plano, McKinney, and Frisco Texas mortgage lender, we feel you should know the difference. It could mean the difference between winning that competitive bid or being beat out by a buyer…

The Dallas housing market continues to be red-hot. Here is a snapshot video of the Dallas housing stats. As a local 5 star rated lender, my team and I can help you in a competitive bid situation. The median home sales price has increased to $266,000 which is an 11.3% increase over the same month…

Big changes coming to Fannie Mae loans on July 29, 2017

Some great changes are coming to Fannie Mae loans on July 29, 2017. This benefits Texas homebuyers by allowing more people to qualify under more flexible guidelines. Fannie Mae recently announced new changes to its Desktop Underwriter® (DU®) Version 10.1 in order to make underwriting easier and simpler for Texas home buyers. One of the…

Dallas Reverse Mortgage for Purchase or refinance cash out in Texas. Home buyers 62 years of age or older are now eligible to purchase a Texas primary residence and make no mortgage payment for life, taxes and insurance payments are required. What better way to enjoy your retirement than in your own comfortable home with…