Down Payment with Dallas Top Lender

Mortgage Down Payments

So you’re buying a home and trying to determine how much you should put for a mortgage down payment. Below are the basic down-payment guidelines for various loans programs, AND a few of our opinions about how much you should (or shouldn’t) put down for a down payment. The funds due at closing consists of […]

Seller Concessions for Best Listing Realtor in Dallas

Seller Concessions

Seller Concessions Seller Concessions are essentially a way to “roll-in” Closing Costs on a purchase home loan (see also How To Pay For Closing Costs). Seller Concessions are negotiated between the buyer and seller during the contract negotiations and are recorded in Section 12 of the purchase contract.  (Note: Seller Concessions can be included in a contract amendment […]

Jumbo Loans with 10% Down?

Who knew your JUMBO clients could purchase or refinance with only 10% down payment? Team Pfeiffer…that’s who! Buyers purchasing at a price point which pushes their loan above the $417,000 conforming loan limit have typically been required to put at least 20% down.  NOT anymore!  Using portfolio money, Team Pfeiffer can finance up to $1 […]

High-Cost Areas

The Federal Housing Finance Agency (FHFA) is the government agency that sets the mortgage loan limits that apply to all conventional mortgages delivered to Fannie Mae and Freddie Mac.  Meaning, they ultimately determine what is considered a “normal” loan and what is considered a jumbo loan. Conforming Loan Limits of $424,100 For 2017 the new […]

Split Financing and Second Lien Loans with Best Mortgage Banker in Dallas Texas 200

Split Financing And Second Lien Loans

Split Financing means using two mortgages to purchase or refinance a home so that the total amount financed is “split” up into two loans. A second lien is a mortgage that exists behind a first lien mortgage and is typically used to avoid Mortgage Insurance (MI) and/or Jumbo financing.  Split financing and second lien loans are […]

Portfolio Loans

<under construction> Buyers purchasing at a price point which pushes their loan above the $417,000 conforming loan limit have typically been required to put at least 20% down.  NOT anymore!  Using portfolio money, Team Pfeiffer can finance up to $1 million with only 10% investment by the borrower. What you need to know: $1,000,000 max 1st lien Primary […]

Jumbo Home Loans

The Government-Sponsored Enterprises (GSE) (better known as Fannie Mae and Freddie Mac) set the Conforming Loan Limit in Texas as $424,100 for a home loan. (This amount varies from state to state and is determined by the median home value within the metropolitan statistical area). This means that anything above $424,100 in Texas is considered […]