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Using the USDA Loan for Rural Homes in Fort Hood, TX

Using the USDA Loan in the Fort Hood Area

Did you know that the USDA loan is not for Farms and Ranches, but single family homes? Did you know there are numerous Fort Hood, TX area subdivisions that qualify, including most of Nolanville? If you are buying a home, especially a first-time homebuyer, don’t forget to check out the USDA Loan.

Posted in: Buying, Loans Tagged: USDA

Mortgage Insurance Explained: PMI, MIP and the VA Funding Fee

Everything you need to know about mortgage insurance

Not the same as property insurance, learn about the advantages and disadvantages of the loan types (VA, FHA, Conventional) as relates to mortgage insurance.

Posted in: Buying, Loans Tagged: MIP, mortgage insurance, PMI, va funding fee

Financing Repairs When Buying Your Home: The FHA 203K Loan

Financing in the Repairs with the FHA 203k Loan

One of the only options for financing in repair costs when buying a home – it is probably better as a last resort option. Read more about the pros and cons.

Posted in: Buying, Loans

Budgeting Your Mortgage Payment in Killeen, Texas

How to budget your home price in Fort Hood, TX

Updated 3/6/17; Originally published 8/26/15 Takeaways Budget based on your monthly mortgage payment, not your purchase price Plan on that mortgage going up Your lender is your #1 resource for planning your budget Considering buying a home? Don’t know how much home you can afford? Look no further! Starting a Home Budget The very first […]

Posted in: Buying, Loans Tagged: calculator, escrow, Home Affordability, Insurance, Interest, Lenders, Mortgage, Principal, Taxes

Everything You Need To Know About the VA Loan

Everything You Need to Know about the VA Loan

Takeaways Are you eligible for the VA loan? Use it! Advantages / Pros The VA loan boasts numerous advantages to those who are eligible. The main advantages are the 0% down payments and lower interest rates compared to alternatives. VA loans also don’t require mortgage insurance, which can add $100 or so to a monthly […]

Posted in: Loans Tagged: closing costs, funding fee, military, Tex Vet, va

How the VA loan can Trap Homeowners

Home Underwater

Updated 8/9/16, originally published 8/2/15 Takeaways The VA loan is a fantastic loan option for Fort Hood service members, but it is not a blank check. Plan ahead, budget and have an exit strategy, even if it is your “forever home” (situations change) Talk to a Realtor – especially when buying from a builder – […]

Posted in: Buying, Loans Tagged: foreclosures, fort hood, killeen, military, VA loan

5 Tips on Choosing a Lender (Fort Hood, TX Style)

Top Fort Hood Lenders

Takeaways Don’t just look at rates; Lenders can manipulate rates Get the Loan Estimates from multiple lenders to compare apples to apples Local lenders are often better prepared and resourceful than online lenders Choosing one lender over another can be very confusing, actually.  Many shoppers erroneously think it is all about the rate, and they […]

Posted in: Buying, Loans Tagged: Lenders, loan estimate, Mortgage, mortgage rate

The Texas Veterans Home Loan I Didn’t Know About Until I Became a Realtor

The Tex Vet Loan for Texas Veterans

This loan type is worth looking into if you are a Texas resident and military veteran or service member.

Posted in: Buying, Loans Tagged: George P Bush, Loans, military, SWBC, Tex Vet, texas, VA loan, Veterans, VLB

54% of Fort Hood Home Buyers Used the VA Loan in 2015

Types of Loans

Some top producing Texas Realtors have never even touched a VA loan. Not here in the Fort Hood area. By far, the VA loan is the most prevalent loan type, making up over half of the transactions in the area. The next closest method of payment was cash deals, comprising 19% of the market. 2015 […]

Posted in: Loans Tagged: Cash, Conventional, FHA, military, Owner Financing, Tex Vet, VA loan

How to Calculate Your Debt to Income Ratio

Types of Loans

What is your Debt to Income (DTI) Ratio and why does it matter when getting approved for a home loan? How do you calculate your DTI?

Posted in: Loans Tagged: dti ratio, Loans, preapproval

Conventional Loan

Types of Loans

Information on the pros and cons of the Conventional, or conforming, mortgage home loan.

Posted in: Loans Tagged: closing costs, Conventional, debt-to-income, downpayment, FHA, Lenders, mortgage rate, USDA, va

5 Tips on Choosing a Quality Mortgage Lender

Good Faith Estimate Logo

Fort Hood / Killeen area recommended lenders, and criteria to use to help choose which lender or mortgage broker is right for you.

Posted in: Buying, Loans Tagged: Brokers, Builder, GFE, Good Faith Estimate, Lenders, Loan Originators, Mortgage, Points, real estate

Types of Loans

Types of Loans

What loan types are available to you as a buyer? Here is the short and skinny of the different loan types with a brief explanation of the benefits and restrictions.  These loans apply to owner-occupied loans, meaning only homes you are intending to live in yourself.  Investment homes will either be looking at an investor […]

Posted in: Buying, Loans Tagged: Conventional, FHA, Jumbo Loan, Tex Vet, USDA, VA loan

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Brian E Adams, Realtor

Brian E Adams, Realtor, GRI
StarPointe Realty
1604 South W S Young Drive
Killeen, TX 76543
(512) 763-7912
brian@hoodhomesblog.com
Licensed in the State of Texas

 

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