Want and Easy Loan Application Process? Follow These Simple Steps:

Follow these steps below to help keep your loan process smooth and easy! Have all of your funds used to close in one account without any recent large deposits – Even small deposits and transfers to your account may sometimes have to be sourced. Underwriters must prove that this money is not borrowed and that it can be hard unless you save checks, stubs, deposit slips and make copies of everything. It’s a lot less work if you simply use one account that is dedicated to your transaction and put all of your needed funds into that account at least 2 months prior to your transaction. Save your pay stubs and other financial documentation – Pay statements are one of the ways that income is verified and monitored. Currently, underwriters often want these updated within 30 days of the closing so get or get in the habit of hanging onto them and have them ready to transmit when requested. The same goes for all other financial documentation from bank to retirement statements, tax returns, fund transfers, asset sales, etc. Don't change jobs or switch from salary to commissions – It’s not always enough to simply have income, ideally, it’s best when it’s been received from the same employer for two years or more and it’s consistent or growing. We understand that things can change, yet, voluntary moves during the mortgage process can often equal difficulty and at the least, will make verifications more complex and time consuming. Save all pages of your bank statements - We know that banks love to include blank pages or advertisements in their statements. The problem is when they put a number on this page such as “1 of 8″ or “5 of 5″ – you may know their is nothing there but how will an underwriter if she or he can’t see the page? So, save even these and include them when you provide your statements. Don't apply for any new credit cards, car loans, furniture financing, etc – While purchasing a new home often goes hand in hand with buying furniture, lawn mowers or gas grills, that 10% discount the salesman wants to grant you by opening a new charge card can not only cost you far more money than you save; in extreme cases, it can even cost you your loan approval. If you need more detail, just ask but to be the ideal borrower, just don’t do it. Save your purchases until after close and you may be far happier. This is the most important thing of all – and that is to simply accept the process for what it is regardless of how crazy it may seem and enjoy your closing! Last but not least: Choose a mortgage company that understands the mortgage rules and regulations, and who can easily guide you through the process with their expertise. You also want a company who has been in business at least 5+ years and is up to date on all the newest regulations in the industry. Here at Texas Premier Mortgage, our Loan Officers are the best trained in the business to provide you with the utmost up to date information regarding your mortgage needs. We have 10+ years experience in the industry, allowing us to have all the knowledge it takes to get you a good deal and get it done for you in a timely manner. Why delay? Call today!! 281-627-4222. www.txpremiermortgage.com

Be Your Home Mortgage TEAM CAPTAIN

Getting approved for a mortgage can be stress-free experience for borrowers who take the time to prepare, and who approach the approval like a job. This is because, as a borrower, you become an integral player on a team where every member's goal is the same -- to have a successful closing. It could be argued that your role as "borrower" is more important, even, than the roles of loan officer, loan processor, home appraiser, loan underwriter, and closer. As the borrower, you're the team captain, and the way that you engage and participate with your loan is more important in getting your loan closed on-time (and without problems) than you may realize. Let's think of your loan approval in terms of a sporting team, where every player plays a specific part in the team's success. First, there's the loan officer. Sometimes called a "loan originator", the loan officer's role is to assess your situation and make a game plan. Your loan officer will ask questions of you, and use its mortgage market knowledge to determine which mortgage options may best suit your needs. The options may include fixed-rate or adjustable-rate financing; or, a recommendation to consider an FHA loan or VA loan. Your loan officer will be non-biased in presenting your options. It will be your choice as the borrower, ultimately, to choose the loan you like best. As a mortgage borrower, the way that you engage and participate with your loan is more important in getting your loan closed on-time (and without problems) than you may realize. Let's think of your loan approval in terms of a sporting team, where every player plays a specific part in the team's success. First, there's the loan officer. Sometimes called a "loan originator", the loan officer's role is to assess your situation and make a game plan. Your loan officer will ask questions of you, and use its mortgage market knowledge to determine which mortgage options may best suit your needs. The options may include fixed-rate or adjustable-rate financing; or, a recommendation to consider an FHA loan or VA loan. Your loan officer will be non-biased in presenting your options. It will be your choice as the borrower, ultimately, to choose the loan you like best. Often, but not always, a loan officer will work with an assistant to help coordinate the handling of a loan. This assistant may have any of the following titles : Loan Coordinator, Loan Assistant, Production Assistant, Production Manager, or some other title entirely. However, the role of this assistant is the same -- to help you close your loan as quickly and cleanly as possible. The team will also include a Loan Processor -- sometimes two! Loan Processors are the unsung heroes of the mortgage approval process. From the onset, they're busy collecting paperwork, reviewing documentation, making calls and requesting verifications, and keeping "the file" clean. Loan processors are also responsible for ordering home appraisals, when they're required. Notable exceptions include the VA Streamline Refinance and FHA Streamline Refinance, neither of which require a home appraisal. Appraisals, meanwhile, are handled by another member of the team -- the home appraiser. The role of the appraiser is to support your opinion of your home's value. The appraiser will visit the home you're wishing to mortgage and will perform a full assessment to determine its Fair Market Value. The value of your home becomes the basis for the loan. Your loan-to-value (LTV) ratio uses the appraiser's findings, for example, and all of the information collected to-date is passed to the Loan Underwriter. The Loan Underwriter's role is to review all of the information provided by you, the borrower; by the credit agencies and your employer(s); by the appraiser; and by anybody else who provided information in support of your loan approval. This may include your attorney, your accountant, your homeowners association (where applicable), and others. With all of the information in-hand, the underwriter then confirms that it adheres to the allowable rules for the loan you selected at the start of the approval process. The "allowable rules" are known as mortgage guidelines. You must meet mortgage guidelines in order to get approved. Loans which meet mortgage guidelines are approved, and issued a "clear-to-close". Clear-to-close means your loan has been issued a final approval, at which point a Closer is assigned to the team. The closer's role is to officiate your settlement, presiding over your signing and ensuring that all documents are signed where required. Documents are delivered from the underwriter to the closer only after a loan is clear-to-close. On a purchase mortgage, the closer will make sure that home is legally transferred to you, the borrower, after all papers are signed. With a refinance, the closer will ensure your old lender gets paid off, and that your former mortgage is retired. You are the most important player. To close on a loan -- whether purchase or refinance -- large groups of people must work as a team. There's your loan officer, your production assistant, your processor, your appraiser, your underwriter, your closer, and there's also you -- the Most Important Player. As the borrower, your job goes beyond choosing the loan program which is best for you. Once that loan is selected, your job is to provide the necessary paperwork and signatures to meet the terms of the loan. That means, in most cases, giving proof of income; proof of assets; and, proof of employment to help with underwriting. It may also mean providing supporting paperwork for a missed mortgage or credit card payment; or proof that a prior lien was released on your home. There are other items for which you'll be asked, too, and when those requests are made, your job as borrower is to respond to those requests as quickly and thoroughly as possible. The faster you reply back to your lender, the faster your loan can close. Closing quickly can get you access to lower mortgage rates. Closing slowly can ruin your loan. Truly. The internet is littered with stories of home buyers who failed to close on their original rate lock, and were forced to accept a higher rate at closing. Be proactive about your loan. Set a weekly appointment to speak with your loan office. Find out where you loan is in-process, what paperwork is still missing, and what's left to be done. Ask what you can do to move things forward. When you're asked for additional documentation, provide it with no question asked. Lenders don't want to request additional documents from you any more than you want to provide them. If they're asking, they need it. Be involved with your loan and the team will thank you. Your hustle and heart and be rewarded. You will see other team members working in-kind. Everyone will bring their "A" game to match your effort and interest. Championships are won when a whole team consistently puts forth its best effort. Therefore, find a lender who knows how to do just that, and who has your best interest at hand. To find out more and to see what interest rates are doing these days please click here. The loan officers at Texas Premier Mortgage are trained to work as a team, assisting you with a smooth home buying process. Contact Steve Head, President and Top Producer of Texas Premier Mortgage today! Why wait another day to get started?

What to Discuss With Your Mortgage Lender

You're ready to buy or refinance – but whether this is your first or fourth loan – you may find that working with a loan officer to be confusing and difficult. Having a clear understanding of what you want and how to communicate with your mortgage professional is critical for success. To keep everything running smoothly – make sure you discuss the following topics with your loan officer. 1 - Communication Style. Mortgage professionals will communicate with you in a variety of ways including by phone, email and text. Some are tech savvy and others prefer traditional methods. The point is to be clear about what YOU prefer. If you respond more quickly to text messages versus voicemail - tell your loan officer. Often times, there are time sensitive issues that arise during the loan process, so it will make everyone happy if your loan officer knows how to get questions answered, additional documentation etc. in a timely manner. 2 - Timeline & Priority Level. Mortgage loans are a process and the process is changing almost on a daily basis. This means that you need ask your loan officer about expected timelines and be clear about any time restraints you have. Your mortgage professional wants to get your loan secured and completed as soon as possible but the key word here is "possible." Don't make unrealistic demands or expectations. Try to provide information right away so you can stay on schedule. Your loan officer will give your file top priority and it is essential that you do the same. And while it might seem obvious - keep your loan officer in the loop when it comes to going on vacation and delays on your end. You will need to be able to electronically sign disclosures, provide scans of income verification and tax returns and physically present to sign contracts throughout your loan process so if you are unable to fulfill these requirements, it can jeopardize your application. 3 - Be Upfront About Unusual Circumstances. One of the quickest ways to get declined for a mortgage is to not tell your mortgage professional about an unusual circumstance in your file. This can include: A pending divorce A short sale, foreclosure or bankruptcy Unreliable working hours or income restraints Other rental properties Anything that seems unique or unusual! Understand that it is ALWAYS better for you to tell your loan officer upfront about unusual circumstances than for them to "discover" it later. If you are unsure where there is something unique about your financial profile - talk to your mortgage professional to see if it will impact your application. 4 - Short-term & Long-term Goals. Is this the home you plan on living in for a few years or a few decades? Do you plan on turning this home into a rental eventually? Is your goal to pay off your mortgage quickly? Understanding your short and long term plans can help tailor the loan programs and rates that your loan officer presents to you. A qualified mortgage professional cares about how this loan will fit into your financial goals and can help position you to achieve those plans faster. Let their expertise help you! Contact Steve Head today, President and Top Producer of Texas Premier Mortgage. You can email him at steve@txpremiermortgage.com with any questions you may have about the lending process.

Be Informed When Shopping For Mortgage Rates

Mortgage Rates Change All Day, Every Day Mortgage bond prices, similar to stock prices, are random. They can't be predicted with any sort of certainty, and they change from minute-to-minute. Facts like this are big deal to people like you and me because mortgage bonds are the basis of everyday mortgage rates. Mortgage rates are in constant flux. As a real-life illustration, mortgage rates changed every few hours. That's fast. It makes life tough for people looking to shop for the lowest mortgage rates possible. Shopping Rates? It's Better To Be Lucky Than Smart. Shopping lenders is always a good idea. You never know which bank will have the lowest rates, or lowest fees, or widest selection of programs. But, when it comes to physically lock your rate; to find the best possible mortgage rate that you can with the lowest set of closing costs, you're going to need more than just "good shopping skills". You're going to need good luck. Mortgage rates can change at any time, and often do. While you're shopping for a loan, for example, rates could be rising. And not just by an eighth-percent here and there. I'm talking big jumps. There have also been days when rates have dropped by as much. Some days, mortgage rates happen to rise. Some days, mortgage rates happen to fall, and some days, mortgage rates do nothing. And then, there are the days when mortgage rates do all three. Want Good Mortgage Rate Luck? Do Good Research. Since you can't shop for good luck in mortgages, you can at least shop for good information. Talk with multiple loan officers well before you have a need to lock-in, and gather as much data as possible -- about yourself, about your home, and the process, and about the mortgage market drivers. Then, after having these conversations, two things will happen. First, you'll get a very close approximation of your final closing costs and rates. This is important for comparison's sake. You need to know which lender is consistently in the ballgame, and which lender never is. Second, you'll get a feel for the loan officers to whom you're talking. Who's a professional, who's a hack, and who fails to return a phone call. Then, when it is time to lock-in, you won't have to screw around with the shopping process. You'll already know your "A List" of lenders and can choose the one that gives the best combination of rates and fees at that given moment. Just make sure, though, that when you shop for rates, you do it the right way. Let your lender pull your credit. It's not going to harm your score and your lenders need to know this stuff. Now... Go Get Your Rate Quotes! If you're in the market for a mortgage, or know you'll need one soon, start your shopping here. Get a rate quote based on your parameters, and follow-up for more information. Oh, and do it with some other lenders, too. The trick to getting low mortgage rates is to do a fair amount of research, to pick a "good" lender, and to have a little luck.

What is CFPB and How Does this Affect My Home Loan?

The CFPB Proposed Rule Changes are here and the way we do business is going to be different…we think anyway. What is the CFPB anyway? CFPB stands for “Consumer Financial Protection Bureau.” As you know the market collapsed and world as we know it went upside down for a while. We are now right side up but the legislation aftermath that followed has not slowed down. Hence…the CFPB Proposed Rule Changes was born. The CFPB was born in July of 2011 and it overseas “ALL” consumer financial products. This means it supervises banks and non-banks and integrates disclosures under the “Dodd-Frank Act” which started in 2010 after the collapse. The CFPB covers Federal and State Regulatory issues. Is the HUD-1, GFE, and TIL Going Away? Good question, and the answer is YES. This sounds scary and it kind of is because we have all been doing business a certain way for a long time and now some major changes are headed our way. Here are some NEW terms for you to familiarize yourself with: 1. The GFE (Good Faith Estimate) is now going to be the Loan Estimate. 2. The HUD-1 is now going to be the Closing Disclosure Form or CDF 3. 3 Day Rule in affect where the borrower needs to see Final figures. If off by more than $100 a re-disclosure has to take place. 4. Either the Lender or Title Company was deliver the Closing Disclosure Form 5. Limits to Closing Cost increases 6. APR will now change to include more fees normal Title and Escrow Charges 7. Implementation could take 12-18 months. All in all you need not worry. As long as you make sure you adjoin yourself with a lender who has been trained properly in the new changes, you can sit back, relax and let them work their magic to help you obtain your home loan, or home refinance. Ultimately if you find a company who has already put these changes into play ahead of time, you will have no problem reaching your ultimate goal. Texas Premier Mortgage has teamed up with some of the best in the industry to brain storm and make a plan to implement these changes so that is does not affect our customers…it just helps them to achieve a higher level of satisfaction once they sign those closing papers! If you need any assistance at all, contact Steve Head, President and Owner of Texas Premier Mortgage to assist you with your next home purchase. Find us online at www.txpremiermortgage.com or call 281-627-4222 today!

Renting VS. Buying: The REAL DEAL

Have you been renting and considering purchasing a new home but not sure on where to turn? It is easy to get into a routine and not take that leap of becoming a home owner. But honestly, if you look at today’s interest rates you would really be doing yourself a favor by purchasing. Mortgage rates are back in the 3s and there's an argument to be made that there's no better time to buy a home than right now. Affordability is high, low-down payment loans remain readily available, and home prices continue to ratchet higher -- as do rents in many U.S. markets. However, because buying your first home will likely be the largest financial commitment you've made in your life so far, it's in your best interest to weigh the pros and cons of homeownership; and there are both. Yet, mortgage rates are currently super low, which has lowered the cost of a monthly mortgage. In many markets, it's now cheaper to pay on a loan than to pay monthly rent to a landlord. This is especially true in cities such as San Francisco and Seattle where rents are rising faster than wages. Renting can give you flexibility, but homeownership can give you wealth. Which is more important to you? Buying and owning a home is the essence of "The American Dream". Each month, your housing payments go towards owning your home instead of renting it; building your personal wealth and assets instead of someone else's. History has shown that homeownership is a clear path to wealth-building, with homeowners boasting net worths which are multiples higher than the net worths of renters. This happens because renter "own nothing" while living in a home. A homeowner, by contrast, owns the home and, as the home's value changes, those changes are bestowed upon the owner. Historically, real estate has increased in value nationwide. There's no guarantee that values will continue to rise, but in the majority of U.S. markets, it's likely over the long-term. So, if you buy a home for $250,000 -- regardless of your mortgage! -- and that home's value rises to $300,000, you have accumulated $50,000 in additional net worth. Renters can't make that same claim. Owning a home can anchor a household, as well, offering stability and predictability to life. When you own your own home, there's no landlord to give you "30 days notice", after all. Then, there are the tax benefits to consider. For homeowners who itemize deductions on their federal tax returns, owning a home grants access to multiple tax breaks, including the monies spent on mortgage interest each year and the monies paid in real estate taxes. Still trying to consider between renting and buying? Make a list of the pros and cons that you can thing of between the two and then make an educated decision based upon what is best for you and your family. Have mortgage questions or wondering how much mortgage you can afford? Contact the local Woodlands, TX Mortgage Expert Steve Head, President, Owner and Broker for Texas Premier Mortgage since 2006. His expertise in the current market has helped thousands of homeowners make their dreams come true. Check out the website at www.txpremiermortgage.com, or give him a call at 281-907-6401 extension 100.

School Year 2015 is Now in Session

School is back in full swing as is car and bus rides, walkers, bikers, and all the traffic to go along with it! Here are a few helpful back to school tips from the America Academy of Pediatrics to help you and your child have a successful school year!

MAKING THE FIRST DAY EASIER: Remind your child that there are probably a lot of students who are uneasy about the first day of school. This may be at any age. Teachers know that students are nervous and will make an extra effort to make sure everyone feels as comfortable as possible. Point out the positive aspects of starting school. She'll see old friends and meet new ones. Refresh her positive memories about previous years, when she may have returned home after the first day with high spirits because she had a good time. Find another child in the neighborhood with whom your student can walk to school or ride on the bus. If it is a new school for your child, attend any available orientations and take an opportunity to tour the school before the first day. If you feel it is needed, drive your child (or walk with her) to school and pick her up on the first day. BACKPACK SAFETY: Choose a backpack with wide, padded shoulder straps and a padded back. Pack light. Organize the backpack to use all of its compartments. Pack heavier items closest to the center of the back. The backpack should never weigh more than 10 to 20 percent of your child's body weight. Always use both shoulder straps. Slinging a backpack over one shoulder can strain muscles. If your school allows, consider a rolling backpack. This type of backpack may be a good choice for students who must tote a heavy load. Remember that rolling backpacks still must be carried up stairs, they may be difficult to roll in snow, and they may not fit in some lockers. DEVELOPING GOOD HOMEWORK AND STUDY HABITS: Create an environment that is conducive to doing homework. Children need a consistent work space in their bedroom or another part of the home that is quiet, without distractions, and promotes study. Schedule ample time for homework. Establish a household rule that the TV and other electronic distractions stay off during homework time. Supervise computer and Internet use. Be available to answer questions and offer assistance, but never do a child's homework for her. Take steps to help alleviate eye fatigue, neck fatigue and brain fatigue while studying. It may be helpful to close the books for a few minutes, stretch, and take a break periodically when it will not be too disruptive. If your child is struggling with a particular subject, and you aren't able to help her yourself, a tutor can be a good solution. Talk it over with your child's teacher first. Some children need help organizing their homework. Checklists, timers, and parental supervision can help overcome homework problems. If your child is having difficulty focusing on or completing homework, discuss this with your child's teacher, school counselor, or health care provider. Establish a good sleep routine. Insufficient sleep is associated with lower academic achievement in middle school, high school and college, as well as higher rates of absenteeism and tardiness. The optimal amount of sleep for most adolescents is in the range of 8.5 to 9.5 hours per night. So hang in there! Here at Texas Premier Mortgage we value higher education and wish everyone a fun and fulfilling school year! Good luck students and teachers! - See more at: https://www.aap.org/en-us/about-the-aap/aap-press-room/news-features-and-safety-tips/pages/back-to-school-tips.aspx#sthash.A9mUtvpi.dpuf

Important Real Estate and Mortgage Terms Defined to Help Ease the Process With Your Clients

First-time homebuyers tend to be overwhelmed and anxious when it comes to real estate industry jargon, but if you make the terms understandable it will ease their anxiety. Confusion can lead to discouragement and the possibility of losing a sale. It is imperative that you take time to enlighten your client on vital terms to help ease their feelings of being overwhelmed with the process. Here are the real estate market terms that every first-time homebuyer should get acquainted with and the explanations that will help them understand them.

1. Appraisal An appraisal is the estimated value of a property. A property is appraised to know the amount of money that a lender is willing to lend for a buyer to buy a particular property. If the appraised amount is less than the asking price for the property, then that piece of real estate might be overpriced. In this case, the lender will refuse to finance the purchase. Appraisals are designed to protect both the lender and buyer. The lender will not get stuck with a property that is less than the money len t, and the buyer will avoid paying too much for the property. 2. Certificate of title This document ensures that a particular property is legally owned by the seller and that no other individual owns it or can lay claim to it. 3. Closing Closing happens when you meet up to close the deal. It’s also referred to as settlement. It involves the buyer and his or her attorney, the seller and his or her attorney, as well as the escrow agent. 4. Closing costs This refers to the additional expenses spent in financing and purchasing the property. Costs usually include lawyer’s fees, loan origination fee, escrow impounds, appraisal, survey and title search fees. The closing costs usually amount to 6 percent of the sale price of the property. 5. Comparative market analysis (CMA) The CMA is conducted to determine the market value of a property, which is needed to make a fair asking price. The analysis is done by comparing the property in question to other similar properties that have been sold recently in the area. It’s one of the ways to find out the salable factors of a property. 6. Contingency This term enumerates conditions that are needed to be met before the sale can proceed. These conditions involve financing, appraisal contingency and inspection contingency. 7. Due diligence Due diligence refers to the actions that a responsible buyer must conduct. These include verifying the representations of the seller and questioning pertinent facts that might not have been disclosed but can have a bearing on his decision to purchase the property. 8. Earnest money deposit (EMD) This money is committed by the buyer to signify his good intentions in purchasing the property. The cash is usually deposited in an escrow account. If the sale pushes through, the cash is applied to the down payment. If it doesn’t, the buyer can forfeit the deposit and take the money. 9. Escrow account This account is where the closing costs will be deposited. The lender will use this account to pay for insurance and taxes on the buyer’s behalf on an annual basis. 10. FICO score This term refers to the financial information compiled by three major credit card reporting agencies, which are then calculated by the Fair Isaac Corp. The score contains information such as debt payment history, owed amounts and credit history. The score ranges from 300 to 850. The higher the score is, the less credit risk to lenders, which increases the buyer’s chances of getting loans. 11. Fiduciary duty The fiduciary refers to the broker that the real estate agent works for. By law, a fiduciary has duties to the buyer, including confidentiality, disclosure, diligence, loyalty and reasonable care. 12. Good faith estimate (GFE) The GFE is a form given by borrowers to lenders. By law, lenders are required to provide the information needed by borrowers so they can compare terms and rates from different lenders. The form must include a list of fees associated with the mortgage loan and must be given to the borrower within three days of loan application. 13. HOA docs This term refers to homeowners association documents. A buyer has the right to view these documents when buying a condo property or house in a managed community. The documents have information such as meeting minutes and budget. Viewing these documents can orient a buyer on the basics of condo association fees. 14. Loan-to-value ratio (LTV) The LTV is a ratio used by lenders to assess the risks involved in a mortgage loan. The amount of mortgage will be divided by the appraised value of a property. If the LTV is high, then it is considered a high-risk loan. 15. Mortgage The document that binds the house to the lender, which also serves as the security for the money borrowed for the purchase. 16. Prequalification This is the process in which it’s determined if a borrower is qualified to secure a loan. An approximate of the amount he might receive is provided from this process. 17. Principal, interest, taxes and insurance This sums up the monthly mortgage payment. The principal goes to the loan amount itself, and the interest goes to the lender. The taxes and insurance are other nonnegotiable parts of the mortgage payment. 18. Private mortgage insurance The PMI serves as a protection for the lender in case the buyer defaults on his payments. This insurance is applied to high-risk loans, for LTVs with a score of more than 80. These are only some of the terms that clients will hear as you negotiate for the purchase of the house. If you or your clients need any further information or explanation you can contact Steve Head, President and Mortgage Purchase Expert at Texas Premier Mortgage in The Woodlands, Texas.

Texas Premier Mortgage is proud to announce for the past two consecutive years, as well as in 2011, our company has been distinguished with the Award of Distinction recognition, and we are happy to announce we have the privilege of being recognized by a higher achievement award for 2015. This year we were awarded the Pinnacle award, the most prestigious award given to one company per category of business. The BBB Awards for Excellence recognizes businesses and non-profits for their achievements and commitment to overall excellence and quality in the workplace. Texas Premier Mortgage has been going strong since 2006, and has maintained an A+ rating with the BBB. We strive to continue to uphold our commitment to our clients and are very proud to have achieved this high honor this year. Our best complement is the high satisfaction and praises we hear from our customers. We just wanted to take a minute to recognize all of our customers, colleagues, and business partners who help us strive for continued excellence for those whom we serve. This award is testimony to the hard work and dedication of all our employees, who consistently strive to provide first class service to our wonderful customers. Thank you for your continued support, trust, and for assisting us in helping to make a difference within our community. About Texas Premier Mortgage: Texas Premier Mortgage was founded by the President, founder, and top producer, Steve Head, and provides residential mortgage loans to their clients. Steve began his career in the mortgage business in 2004, and opened the company in 2006. The company steadily grew to currently 14 employees, and continues to hold an excellent satisfaction rating amongst its clients. The company had to expand offices earlier this year in 2015 to accommodate its growing staff. Steve prides himself in being an expert in his field, therefore constantly educating himself and his team on the most up to date mortgage information. He shares his knowledge and expertise with his colleagues, clients, and business partners. He is a graduate from Sam Houston State University with a Bachelor's in Business in 2002. He and his wife Cynthia have two children and live in The Woodlands. They enjoy the outdoors, going to church, golf, trips to Disney World, weekend barbeques, giving back to the community, and motivational movies. For more information about Texas Premier Mortgage visit www.txpremiermortgage.com.

Prequalification or Preapproval?

So you are in the market for a new home wondering the best way to get started. Before you get serious about making an offer on a new home, obtain from your mortgage lender a prequalification letter at minimum, or better yet, a preapproval letter. A preapproval letter from a lender is much more significant than a prequalification letter. Prequalification often takes just a few minutes, and many lenders provide this service at no cost to you. However, a prequalification letter is a nonbinding offer by the lender to provide you a loan for a certain amount of money. The problem with a prequalification letter is that the lender hasn’t verified your financial information. Rather, they’re indicating that if everything you stated can be verified and your credit rating is solid, they will provide you with this loan. Preapproval, on the other hand, involves your lender actually verifying the financial information you provide. The lender will contact anyone they need to receive verification of your income, assets, debts, and credit history. After it verifies this information, it issues a letter stating that you are approved for a certain amount of mortgage for a certain period of time. You have several very good reasons for obtaining a preapproval letter prior to entering into any negotiations regarding the house purchase. Your mortgage company has done a thorough review of your financial information and has provided you with the letter stating that they will give you a loan for a certain amount of money. It’s obligating itself to provide you with this loan. A potential buyer who already has a preapproval letter from a lender stands a much better chance of having his purchase offer accepted than someone who is making their offer contingent upon obtaining financing. The preapproval letter provides you with confirmation of how much money (loan plus your down payment) you have available to spend on your new home. Preapproved borrowers are attractive to potential sellers. Sellers don’t need to worry that if they accept your offer, you could be turned down for a loan. Also, you may be able to close more quickly than another competing buyer, because you have already completed the time-consuming process of being approved for your mortgage. If your financial circumstances change significantly from preapproval to closing, your preapproval letter may no longer be valid. Contact your lender immediately if your circumstances change. To obtain a prequalification letter, preapproval letter, and eventually a mortgage, you need to pull together the following information and documents: Employment and Income: Be able to answer these questions about your employment: Where do you work? How long have you worked there? How long have you worked in the industry? What is your annual income? How is your compensation derived? How stable is your income? Liabilities: What current debts do you have? What is your minimum monthly payment required to satisfy these debts? What is the actual monthly payment that you’ve been applying toward these debts? Of your total debts, how much is directly applicable to credit cards and auto loans? Assets: What is your current bank balance? Where will the money come from to make your down payment and pay any closing costs and discount points, if applicable? Credit: The lender won’t typically ask you any questions about your credit history and instead pulls a copy of your credit report. Review your credit report personally to make certain that you have done everything possible to improve its accuracy prior to making a loan application. Your lender should be able to walk you easily through the process. Click here to contact your local Woodlands Purchase Expert, Steve Head, or call at 281-627-4222 to get your preapproval letter started!

Easy to do Tips for Selling Your Home This Spring

Spring has sprung! Have you gotten your duster out for some spring cleaning? It is that time again! If you are in the market to sell your home now is the time to start cleaning out those closets and de-cluttering your home. The first impression is always what counts. Just imagine yourself stepping into a potential new home for yourself. You open the door and that first sight of the home sticks with you and continues to be that same image as you continue your search for that perfect new home! So, with that in mind, be sure to put all your grandmother’s trinkets away that have been passed down from generations, and all those magazines you have been collecting over the past few months. You can start placing those items safely in boxes to place away in your garage or storage until you are ready to move. Moving does not mean you have to wait until you sell your home…you can start early! It helps you get rid of the things you no longer need or want as well as help make your home free of clutter. It also helps make your move less stressful. Next you will want to make sure you clean your carpets, blinds, and drapes. You will want to deodorize your carpets especially if you have pets in your home. Utilize your pillows, towels, and throws in soft spring colors to help light up the room. Try light shades of yellow, blue, coral or grey. These items are very inexpensive to purchase and add accents to any room. Next on your checklist you will definitely want to increase curb appeal. Trim back bushes and branches so the house can be seen, and brighten up the yard with some colorful flowers. Also pressure wash the driveway, sidewalk, and patio. Finally, repair anything that’s showing wear and tear if it is noticeable from the road. Sometimes buyers drive by just looking for homes in your area. If they are not impressed with the outside, they are less likely to want to see the inside of your home. Lastly, research your market. Home buying and selling can be tricky, which is why it is important to make sure you have your home market knowledge up to date. It is a good idea to work with an experienced real estate agent to help you not only choose the correct listing price, but also get an idea of what your home is likely to sell for in the current market. If you are in the market to buy or sell this spring, we can help you find an experienced real estate agent who is knowledgeable in the area you are interested in. Prior to purchasing any home, you will need a pre-qualification letter to let the buyer and sellers agent know you mean business and are ready and qualified to buy a new home. Contact Steve Head, 281-627-4222 with Texas Premier Mortgage. He is more than qualified to help you with finding that right agent for you, as well as assist you with your pre-qualification letter and purchase mortgage needs. Good luck with your move, and happy spring house hunting!

How To Tips: Building Your Credit

In order to help build your credit you have to first understand what factors influence their credit scores. Let’s start with how your credit—or FICO—score is calculated. Your credit score is affected by 5 factors: Payment History: Your payment history accounts for 35% of your credit score. The goal is to establish a record of full, on-time payments. Recent history is given more weight. Amounts Owed: Your debts account for 30% of your credit score. Credit bureaus look at both your total debt and your debt-to-credit-limit ratio. Not all debts are bad, but loads of credit card debt is definitely frowned upon. Length of Credit History: How much history you’ve already established accounts for 15% of your credit score. This can make it difficult for folks just starting out. New Credit: Recent credit acquisitions account for 10% of your credit score. New accounts are handled with suspicion. Types of credit used: The types of credit utilized account for 10% of your credit score. It’s helpful to diversify. Lenders use your credit score to determine your financial trustworthiness. They’re more inclined to give money to people who will successfully pay it back. To prove your trustworthiness, you must demonstrate through example. Here’s a list of simple guidelines to follow as you work your way up the ranks. One, make payments ON TIME, ALWAYS. This is the #1 rule of building credit. This applies to credit cards, loans, mortgages, everything. Keep credit card debt LOW. Use your card regularly, but don’t spend money you don’t have. Stay well under your credit limit. You’ll be scored favorably if you keep below 30% of your total credit limit. To raise your limit, consider a credit card that has no hidden fees. Don’t take out cash advances. Keep accounts open for as long as possible, especially if doing so is cost-free. This raises your average account age and your total credit limit. Don’t open too many new accounts all at once. This lowers your average account age. Checking your credit report regularly will help to keep you up to date on where you stand with your credit score. Paying through installment loans will raise your score. Stay away from prepaid debit cards because they do not help to improve your credit. If you have everything lined up your next step is finding a credit card. Stay on top of your credit, and remember to NEVER spend more than you can afford…and ALWAYS pay more than the minimum monthly payment to help keep you from getting behind in the future. For more information or helpful credit tips contact Steve Head at steve@txpremiermortgage.com, or call at 281-627-4222.

Benefits of Mortgage Refinance

Refinancing a mortgage means paying off an existing loan and replacing it with a new one. There are many common reasons why homeowners refinance: The opportunity to obtain a lower interest rate to decrease monthly payment, shorten the term of their mortgage, the desire to convert from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, or vice versa, the opportunity to tap a home's equity in order to finance a large purchase, or the desire to consolidate debt. If any of these sound good to you, keep reading. How does this process occur? Basically, refinancing is done when you seek to obtain a different or even better interest term and rate. Before you refinance take a careful look at your financial situation, and ask yourself: How long do I plan to continue living in the house? And how much money will I save by refinancing? If reducing your monthly payment is your goal, and interest rates are low, refinancing is the way to go. Reducing your interest rate not only helps you save money, but it increases the rate at which you build equity in your home, and it can decrease the size of your monthly payment. When interest rates fall, homeowners often have the opportunity to refinance an existing loan for another loan that, without much change in the monthly payment, has a shorter term. You can go from a 30 year fixed to a 15 year fixed with a slight change in monthly payment if you are wanting to decrease the time it takes to pay off your loan. If you have an adjustable rate mortgage, you may want to consider going to a fixed in order to secure a lower interest rate as well as eliminating the concern over future interest rate hikes. Conversely, converting from a fixed-rate loan to an ARM can also be a sound financial strategy, particularly in a falling interest rate environment. If rates continue to fall, the periodic rate adjustments on an ARM result in decreasing rates and smaller monthly mortgage payments, eliminating the need to refinance every time rates drop. Converting to an ARM may be a good idea especially for homeowners who don't plan to stay in their home for more than a few years. If interest rates are falling, these homeowners can reduce their loan's interest rate and monthly payment, but they won't have to worry about interest rates rising in the future. To see what your monthly payment would be with a lower interest rate click here. Another option homeowners often access is the equity in their homes to cover big expenses, such as the costs of home remodeling or a child's college education. Many homeowners also refinance in order to consolidate their debt. Whatever your financial need, refinancing is indeed an option to help you achieve your financial goals for the future. First consider what goal you are wanting to achieve by refinancing, then find the right lender to assist you with the process. Now is the time, when rates are low to consider saving yourself hundreds or thousands of dollars per year.

New Year... New Resolutions for 2015

With a new year comes resolutions. Spending more time with family, taking that trip you’ve been putting off, buying your dream home — there are undoubtedly goals you’ve set for yourself entering 2015. But is improving your way of life by reducing your monthly debt one of them? It should be, even if you already spend a great deal of time and effort to make sure you stick to a budget, there are still ways you can reduce your monthly mortgage payment to help save you thousands of dollars each year!

No doubt each year brings new challenges, and your circumstances change. So lets review your current needs and compare your financing options. Think about your own reality- what you wake up to each day, your daily activities, your work schedule, your family and their needs, your finances, and your own desire to enjoy your life on a daily basis. Now, think about and just imagine this…imagine having peace of mind knowing you have the money to meet your most pressing needs right NOW! That is where we come in! We specifically help to meet your needs by customizing mortgage solutions that work for you and your family’s needs. Each loan we do we take personally, so that we can provide the utmost best customer service and to help ensure you get the best rate possible to help lower your monthly mortgage payment, or to have cash on hand for those home improvements you have been putting off. So as you are thinking of your new year’s resolutions, think about what kind of mortgage is right for you. If things such as making home improvements, enhancing your lifestyle, building your wealth, improving cash flow, paying excessive monthly bills off, funding college for your kids, switching your ARM for a fixed-rate mortgage, or paying off your home loan early sound enticing….then hesitate no further. These great low mortgage rates won’t last forever! Click here to start your new home process and lock in that low rate!