Homebuyers Check List

For more information about this subject and about loan questions please contact Frank Marta Texas Home Loan Specialist. Info@nuhomegroup.com or give us a call (713) 373-0345.

NuHome Group 713-373-0345
1445 North Loop West Suite 105 Houston, TX 77008
Frank Marta NMLS# 245813/835196

30 Day Closing Guaranteed!

30 DAY CLOSING GUARANTEE

Terms and Conditions

Please review the terms and conditions below.

Disclaimers

Pre-Approval and Closing Guarantee are based on a preliminary review of Borrower's credit information only and is not a commitment to lend. The Closing Guarantee is subject to verification of the information submitted on Borrower's application, in addition to Borrower’s property eligibility.

Rules and Restrictions

1.   The "30 Day Closing Guarantee" timeframe begins upon receipt of the pre-approved Borrower's completed application and executed purchase and sales agreement.

2.   A mortgage payment, for the purposes of this promotion, is defined as principal and interest up to $1,500.

3.   Any additional required documentation/information must be provided by Borrower within 48 hours of each request.

4.   Any alteration to the loan amount or loan terms by, or per request of, Borrower will invalidate the guarantee.

5.   Any alteration to the closing date documented in the original purchase and sales agreement will invalidate the guarantee.

6.   Should Borrower choose their own title agent, title vendor must submit preliminary title work within 10 days of initial application.

7.   Appraisal must be scheduled within 24 hours of initial contact by appraiser.

8.   Property must appraise at or above the sale price.

9.   All pre-closing conditions must be satisfied 5 days prior to the scheduled closing date.

10.                Closing dates extended due to a delay in completion of new construction, and improvements or repairs made to an existing property, will invalidate the guarantee.

11.                Loans for new construction properties require a final certificate of occupancy for consideration.

12.                Fraudulent or purposely misleading information provided by Borrower will invalidate the guarantee.

For more information about this subject and about loan questions please contact Frank Marta Texas Home Loan Specialist. Info@nuhomegroup.com or give us a call (713) 373-0345

NuHome Group 713-373-0345

1445 North Loop West Suite 105 Houston, TX 77008

Frank Marta NMLS# 245813/835196

Do I have to pay off my mortgage to qualify for another property?

Do I have to pay off my mortgage to qualify for another property? 

There are a couple options that you can choose from:

Option one: FHA loan- the guide lines state that you have to be stepping up from one home to a bigger, newer, or closer to work home. In addition to that if you cannot qualify with two mortgages you will need to have 25% equity in the property that you currently own. With this equity you can count rental income based on contingent lease agreement. This will help offset the mortgage associated with that property.

Option two: Conventional loan: the guide lines state that you have to be stepping up from one home to a bigger, newer, or closer to work home. In addition to that if you cannot qualify with two mortgages you will need to have 30% equity in the property that you currently own. With this equity you can count rental income based on contingent lease agreement. This will help offset the mortgage associated with that property.

Option three: You can rent out your property for 12 months then file the rental income on your tax returns. This will be the only exception to the equity rule for mortgages.

For more information about this subject and about loan questions please contact Frank Marta Texas Home Loan Specialist. Info@nuhomegroup.com

NuHome Group 713-373-0345
1445 North Loop West Suite 105 Houston, TX 77008

Frank Marta NMLS# 245813/835196