J. Scott Harris – MortgageXperts.com

Call us 1st to AVOID mortgage problems, Call us 2nd to SOLVE them! We close loans every day that Banks would not, or could not approve. NMLS # 375517 – Mobile 214-435-8825

80% Of Renters Believe Homeownership Is A Part Of Their American Dream

According to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream.

The profile went on to state that 50% of millennials believe that their rent will increase, with 20% believing that an increase in rent will be the catalyst that pushes them to consider buying a home vs. renewing their lease.

So, what is holding renters back?

What would make renters take the plunge?

NAR’s Chief Economist, Lawrence Yun believes that,

“Housing demand in 2018 will be fueled by more millennials finally deciding to marry and have kids and the expectations that solid job growth and the strengthening economy will push incomes higher.”

Yun goes on to warn that,

“However, with prices and mortgage rates also expected to increase, affordability pressures will persist. That is why it is critical for much of the country to start seeing a significant hike in new and existing housing supply. Otherwise, many would-be first-time buyers will be forced to continue renting and not reach their dream of being a homeowner.”

Bottom Line

If you are one of the many homeowners whose houses no longer fit their needs and are looking to move up to your dream home, now is a great time to list your starter home! First-time buyers are out in force looking to achieve their American Dream.

 

 

We look forward to helping you purchase that new home,

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J. Scott Harris & Jani Mansour
NMLS # 375517 – NMLS # 877007
www.MortgageXperts.com

J. Scott Harris
Branch Manager
6900 Dallas Parkway #610
Plano, TX 75024
M: 214-435-8825 | F: 972-696-7810
NMLS# 375517 | Company NMLS # 3274
Equal Housing Lender
Apply Online
Guild Mortgage Company Like us on Facebook Follow us on Twitter Find us on LinkedIn Follow us on Instagram
Ranked #1 Highest in Customer Satisfaction with Primary Mortgage Originations – J.D. Power

 

Awesome Testimonial – No one works harder for clients than We Do!

If you are seeking to purchase a home and are in need of EXPERT ADVICE, HELP OF ANY KIND REGARDING YOUR LOAN, YOU CANNOT DO ANY BETTER THAN JANI MANSOUR.

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MY STORY – Louis P.
I’m 82, my wife is 75.  We were living in a senior apartment complex in McKinney with no intention of purchasing another home.
We are on a very limited after tax income of only $2,180 per month.  In 2016 we were awarded custody of our 16 year old grandson by the Family Court in Collin County.
Of course we agreed to this request and began taking steps to assume custody.  We realized that we could not stay in a 1,039 sq. ft. apartment dedicated to seniors.  Therefore we began exploring options to provide a safe environment.
We had no resources other than our income; we learned of a federal program offered by the USDA Direct Loan Program where we could get approved for a mortgage with zero down and a guaranteed interest rate of 3.25%.  We found a home in Jasper, Texas and submitted an application.
We were in the process of receiving final approval when the government shut down occurred and USDA lost its funding for that program.  We thought we were not going to be able to provide a home for our grandson.
Fortunately, our realtor introduced us to JANI MANSOUR!
JANI IS TOTALLY PROFESSIONAL, SKILLED IN ALL LOAN PROGRAMS,AND WAS ABLE
TO ARRANGE FINANCING THROUGH THE USDA GUARANTEED LOAN PROGRAM WITH A ZERO DOWN PAYMENT REQUIREMENT.
We were thrilled, settled on a loan cap of $100,000 for the purchase of a home.  We had specific requirements that had to be met;
1.    Home had to be 3 Bedroom, 2 Bath
2.    Must have 2,000 Sq Ft
3.    Must be priced below the cap
4.    Interest Rate could not be greater than 4.50 percent.
Jani found the loan we needed and we proceeded with the steps needed to purchase the home we had selected. The home we selected was on the market at $82,000
and was 3B/3B, 2286 Sq Ft. and came with a small “shed” which was equipped with a full bathroom.  It was obvious that repairs were needed to both structures  We offered asking price, offer was accepted.  Pre-purchase inspection revealed home needed new roof, electrical up grade, replacement of some of the rotting soffit on the roof over hang and the bathroom in the shed would require replacement of the commode in order to meet USDA appraisal requirement.  We thought we were doomed and out of luck
JANI TO THE RESCUE!   Through her knowledge, ability and commitment to get us in “our home”, we were able to roll all the repair costs rolled into the loan without any out of pocket cost to us.  The final loan amount wound up being $102,500.
Our next problem was with the USDA Inspector.  She was given the assignment on Nov 22, 2017, “slow-walked”  the inspection delivered the initial inspection report on 12-26-2017 with a listing of the repairs specified above.
Our realtor in Jasper engaged the necessary contractors who all agreed to wait for payment “at closing” (which is why the total loan amount was $102,500)
One of the contractors failed to perform according to specifications.causing delay.  This caused considerable stress on my wife and I; it looked like we would wind-up homeless.  JANI WAS THERE FOR US, staying in constant contact with the realtor and offering us her encouragement and support!
We submitted a request to the appraiser  for final inspection.  Again she slow walked our request and it appeared that we would not get her report in time to meet the closing date and would, therefore, lose our funding from USDA.
AGAIN JANI TO THE RESCUE!  She made calls to the appraisal management company, explaining the “need for speed” on the part of the appraiser..
We got the final appraisal just 3 days prior to the expiration of the 120 day funding window and made the closing date of 2/7/2018.  WE COULD NOT, WOULD NOT HAVE OUR NEW HOME WITHOUT JANI’S DETERMINATION TO SEE THAT WE DID NOT WIND UP HOMELESS1
YOU WILL NOT FIND A MORE DEDICATED, KNOWLEDGEABLE ADVOCATE FOR HOME OWNERSHIP THAN THIS LADY FOR WHOM WE WILL FOREVER BE INDEBTED TO.
IF YOU WANT TO PURCHASE A HOME AND NEED HELP – CALL JANI!  SHE WILL GET YOU THE FUNDING YOU NEED AT THE PRICE YOU CAN AFFORD AND STAY ENGAGED FROM START TO FINISH UNLIKE MOST LOAN OFFICERS OUT THERE.  WE WILL ALWAYS BE GLAD WE WERE LUCKY ENOUGH TO FIND HER!

We look forward to helping you purchase that new home,

Click Here to start your quick Free Credit Analysis & Loan App Now!

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J. Scott Harris & Jani Mansour
NMLS # 375517 – NMLS # 877007
www.MortgageXperts.com

J. Scott Harris
Branch Manager
6900 Dallas Parkway #610
Plano, TX 75024
M: 214-435-8825 | F: 9726967810
NMLS# 375517 | Company NMLS # 3274
Equal Housing Lender
Apply Online
Guild Mortgage Company Like us on Facebook Follow us on Twitter Find us on LinkedIn Follow us on Instagram
Ranked #1 Highest in Customer Satisfaction with Primary Mortgage Originations – J.D. Power

 

5 Reasons Homeowners Throw Better Super Bowl Parties!

We look forward to helping you purchase that new home,

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J. Scott Harris & Jani Mansour
NMLS # 375517 – NMLS # 877007
www.MortgageXperts.com

J. Scott Harris
Branch Manager
6900 Dallas Parkway #610
Plano, TX 75024
M: 214-435-8825 | F: 9726967810
NMLS# 375517 | Company NMLS # 3274
Equal Housing Lender
Apply Online
Guild Mortgage Company Like us on Facebook Follow us on Twitter Find us on LinkedIn Follow us on Instagram
Ranked #1 Highest in Customer Satisfaction with Primary Mortgage Originations – J.D. Power

 

Buy a Home with 1% Down and get 2% Grant from Guild Mortgage EXCLUSIVE PROGRAM

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 Guild Mortgage has launched a new conventional loan program that requires only a one percent downpayment from the homebuyer. Combined with a two percent grant from Guild, the three percent equity results in a loan with a 97 percent loan-to-value (LTV) ratio. The grant does not need to be repaid.

A recent study from the National Association of Realtors (NAR) estimates that Millennials represent 32 percent of all homebuyers and 68 percent of first-time homebuyers. However, Millennials can have trouble saving for a downpayment because of student loans, credit card debt and high rent costs, according to NAR.

“With the gift of a two percent grant, Guild is helping solve financing challenges for first-time and move-up buyers with low-to-moderate income,” said David Battany, executive vice president of Capital Markets at Guild. “Because this is a downpayment assistance program, there are income limits, required homebuyer classes and additional parameters. Income limits do not apply for properties in low-income census tracts.”

Here are key components of the Guild One Percent Down loan program:

►Non-borrower household income can be used to qualify
►Boarder income can be used to qualify
►Debt-to-Income ratio (DTI) up to 50 percent
►680 Minimum FICO
►Reduced PMI Coverage – Only 25%

“Guild’s one percent down loan program provides a unique option to low- and moderate-income homebuyers who are having a difficult time coming up with the downpayment,” said Battany. “We developed this program because of our history of working with first-time homebuyers for more than 50 years and what we saw as a need to fill a void in the market. Now, many homebuyers will be in a stronger position to afford a first home, or even upgrade to another home.”

Check a neighborhood or address to determine income and property eligibility.

Call or email me with ANY questions about this breakthrough new program.
We look forward to helping you purchase that new home,

Click Here to start your quick Free Credit Analysis & Loan App Now!

scott-circle

J. Scott Harris & Jani Mansour
NMLS # 375517 – NMLS # 877007
www.MortgageXperts.com

J. Scott Harris
Branch Manager
6900 Dallas Parkway #610
Plano, TX 75024
M: 214-435-8825 | F: 972-696-7810
NMLS# 375517 | Company NMLS # 3274
Equal Housing Lender
Apply Online
Guild Mortgage Company Like us on Facebook Follow us on Twitter Find us on LinkedIn Follow us on Instagram
Ranked #1 Highest in Customer Satisfaction with Primary Mortgage Originations – J.D. Power

 

 

5 Reasons Homeownership Makes ‘Cents’

The American Dream of homeownership is alive and well. Recent reports show that the US homeownership rate has rebounded from recent lows and is headed in the right direction. The personal reasons to own differ for each buyer, but there are many basic similarities.

Today we want to talk about the top 5 financial reasons you should own your own home.

  1. Homeownership is a form of forced savings – Paying your mortgage each month allows you to build equity in your home that you can tap into later in life for renovations, to pay off high-interest credit card debt, or even send a child to college. As a renter, you guarantee that your landlord is the person with that equity.
  2. Homeownership provides tax savings – One way to save on taxes is to own your own home. You may be able to deduct your mortgage interest, property taxes, and profits from selling your home, but make sure to always check with your accountant first to find out which tax advantages apply to you in your area.
  3. Homeownership allows you to lock in your monthly housing cost – When you purchase your home with a fixed-rate mortgage, you lock in your monthly housing cost for the next 5, 15, or 30 years. Interest rates have remained around 4% all year, marking some of the lowest rates in history. The value of your home will continue to rise with inflation, but your monthly costs will not.
  4. Buying a home is cheaper than renting – According to the latest report from Trulia, it is now 37.4% less expensive to buy a home of your own than to rent in the US. That number varies throughout the country but ranges from 6% cheaper in San Jose, CA to 57% cheaper in Detroit, MI.
  5. No other investment lets you live inside of it – You can choose to invest your money in gold or the stock market, but you will still need somewhere to live. In a home that you own, you can wake up every morning knowing that your investment is gaining value while providing you a safe place to live.

Bottom Line

Before you sign another lease, perhaps you should sit with a real estate professional in your area to better understand all your options.

 

YOU CAN BUY A HOME, CALL US AND TAKE THE RIGHT STEPS.

Even if another Bank or Lender has said “NO,” we will work with you until we can say “YES.” If you have already started in our Qualification Coaching Program, call us, so we can check your progress!


Call us 1st to AVOID mortgage problems,
Call us 2nd to SOLVE them!

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Click Here to start your quick FREE Credit Analysis & Pre-Qualify Now!

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J. SCOTT HARRIS | BRANCH MANAGER
NMLS ID# 375517 (www.nmlsconsumeraccess.org)
(M) 214.435.8825 | (F) 866.343.3688
jharris@goldfinancial.com  www.goldfinancial.com  | Pre-Qualify Now

LinkedIn  |  Facebook  |  Twitter  |  JSH BLOG – News & Articles www.MortgageXperts.com

GoldEmailLOGO

885 E Collins Blvd Ste 110
Richardson, TX 75081

My Branch Closes FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana

Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

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Mortgage Money More Available Than Ever!

Mortgage credit availability was up in September, according to data from the Mortgage Bankers Association (MBA).

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The trade group’s Mortgage Credit Availability Index (MCAI) rose by 0.7 percent to 181.4 in September. All four component indices were up: The Conforming MCAI and the Conventional MCAI both recorded 1.5 percent upswings, followed by the Jumbo MCAI with a 1.4 percent increase and the Government MCAI inching up by 0.2 percent. September marked the fourth consecutive month that mortgage credit availability was on the rise.
“Mortgage credit availability increased in September due to continuing updates to conforming loan programs as well as agency jumbo programs that have been phased in over the last few months,” said MBA Vice President of Research and Economics Lynn Fisher. “For the year to date, the supply of credit has increased only modestly in the non-jumbo space while it has expanded significantly among jumbo programs.”  Link to Original Article

YOU CAN BUY A HOME, CALL US AND TAKE THE RIGHT STEPS.

Even if another Bank or Lender has said “NO,” we will work with you until we can say “YES.” If you have already started in our Qualification Coaching Program, call us, so we can check your progress!


Call us 1st to AVOID mortgage problems,
Call us 2nd to SOLVE them!

Click Here to start your quick FREE Credit Analysis & Pre-Qualify Now!

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J. SCOTT HARRIS | BRANCH MANAGER
NMLS ID# 375517 (www.nmlsconsumeraccess.org)
(M) 214.435.8825 | (F) 866.343.3688
jharris@goldfinancial.com  www.goldfinancial.com  | Pre-Qualify Now

LinkedIn  |  Facebook  |  Twitter  |  JSH BLOG – News & Articles www.MortgageXperts.com

GoldEmailLOGO

885 E Collins Blvd Ste 110
Richardson, TX 75081

My Branch Closes FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana

Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

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Ask me about 100% Financing on Homes right outside DFW


YOU CAN BUY A HOME, CALL US AND TAKE THE RIGHT STEPS.

The KEYS to your new home are within reach!

Click Here to start your quick FREE Credit Analysis & Pre-Qualify Now!

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J. SCOTT HARRIS | BRANCH MANAGER
NMLS ID# 375517 (www.nmlsconsumeraccess.org)
(M) 214.435.8825 | (F) 866.343.3688
jharris@goldfinancial.com  www.goldfinancial.com  | Pre-Qualify Now

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GoldEmailLOGO

885 E Collins Blvd Ste 110
Richardson, TX 75081

My Branch Closes FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana

Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

nmp-top-50-logo

Home prices still rising, bad news for first-timers

Home prices were up again in July but the continued rise in values is further impacting potential first-time buyers.

The newly-released S&P CoreLogic Case-Shiller HPIs show a rise of 5.9% year-over-year for the nationwide index covering all nine census areas, up from 5.8% in June; a 5.2% rise for the 10-city composite (up from 4.9%); and a 5.8% rise for the 20-city composite (up from 5.6%).

“While the gains in home prices in recent months have been in the Pacific Northwest, the leadership continues to shift among regions and cities across the country. Dallas and Denver are also experiencing rapid price growth. Las Vegas, one of the hardest hit cities in the housing collapse, saw the third fastest increase in the year through July 2017,” said David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.

Meanwhile, first-time buyers are being increasingly priced-out of the housing market.

Unsustainable price gains for entry-level homes are exacerbating affordability for potential new entrants to the market, according to Nationwide’s Health of Housing Markets report.

“The U.S. housing market is, overall, healthy and maintains a positive outlook,” said David Berson, Nationwide senior vice president and chief economist. “However, we can’t ignore that price gains are weighing on affordability, and it’s worth keeping an eye on how the price environment will impact those looking to purchase a home for the first time.”

The lowest-tier homes have seen an escalation in average price of 56% in the last five years while the top tier has gained just 33%. Gaps like this were also seen in the period 1987-2005 followed by a slowdown, but Berson is not concerned about a repeat.

“The lending environment today is very different than in both those times. Lenders are more cautious today, likely because they have changed lending practices since the housing market crash. Consumers are in more solid financial standing today, too, as they are less levered overall.”

While affordability is a growing concern, Berson says that demand is not being weakened but that inventory continues to be a challenge for the housing market.

by Steve Randall       27 Sep 2017  MPA Mortgage Professional America
YOU CAN BUY A HOME, CALL US AND TAKE THE RIGHT STEPS.

The KEYS to your new home are within reach!

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J. SCOTT HARRIS | BRANCH MANAGER
NMLS ID# 375517 (www.nmlsconsumeraccess.org)
(M) 214.435.8825 | (F) 866.343.3688
jharris@goldfinancial.com  www.goldfinancial.com  | Pre-Qualify Now

LinkedIn  |  Facebook  |  Twitter  |  JSH BLOG – News & Articles www.MortgageXperts.com

GoldEmailLOGO

885 E Collins Blvd Ste 110
Richardson, TX 75081

My Branch Closes FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana

Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

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Headlines: Student Loan Debt is crippling prospects for Home Ownership..Call Us for a Solution!

Student debt delaying home ownership by nearly a decade

An overwhelming majority of millennials with student loan debt do not currently own a home, and blame the debt for what they expect to be a delay of about seven years before purchasing a home, according to the National Association of Realtors and American Student Assistance.

The 20% of surveyed millennials reporting they do currently own a home are carrying a median student debt load of $41,200, which surpasses their median annual income of $38,800. About 79% borrowed money to finance their education at a four-year institution, and just over half are repaying a balance

By Elina Tarkazikis – Published  – September 19 2017, 12:33pm EDT

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Student loan balances jump nearly 150 percent in a decade

  • As college costs continue to rise, outstanding student debt has ballooned to an all-time high of $1.4 trillion.
  • Still, delinquencies have decreased, which may mean that consumers are managing their loan payments better than they have in the past.

Call Us to develop a plan to be able to manage your Student Debt AND a New Home !

 

Click Here to start your quick Free Credit Analysis & Pre-Qualify Now!

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J. SCOTT HARRIS | BRANCH MANAGER
NMLS ID# 375517 (www.nmlsconsumeraccess.org)
(M) 214.435.8825 | (F) 866.343.3688
jharris@goldfinancial.com  www.goldfinancial.com  | Pre-Qualify Now

LinkedIn  |  Facebook  |  Twitter  |  JSH BLOG – News & Articles www.MortgageXperts.com

GoldEmailLOGO

885 E Collins Blvd Ste 110
Richardson, TX 75081

My Branch Closes FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana

Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

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JUMBO LOANS – TINY DOWN PAYMENTS

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How do you buy More of a home with LESS of a down payment?
 
We offer :
 
95% CLTV loans to $625,000 Purchase Price
90% Jumbo loans to $944,000 Purchase Price
90% CLTV loans to $1,666,666 Purchase Price
91% VA Jumbo Loans to $650,000 Purchase Price
85% VA Jumbo Loans to $1000,000 Purchase Price
 
In some case, your current home does NOT have to close simultaneously if it is on the market or under contract.
 
Get Pre-Approved and negotiate with the confidence and the negotiating power as if you are “Cash Buyer” with our Letter of Commitment.
 

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J. SCOTT HARRIS | BRANCH MANAGER
NMLS ID# 375517 (www.nmlsconsumeraccess.org)
(M) 214.435.8825 | (F) 866.343.3688
jharris@goldfinancial.com  www.goldfinancial.com  | Pre-Qualify Now

LinkedIn  |  Facebook  |  Twitter  |  JSH BLOG – News & Articles www.MortgageXperts.com

GoldEmailLOGO

885 E Collins Blvd Ste 110
Richardson, TX 75081

My Branch Closes FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana

Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

nmp-top-50-logo