The Mortgage Report

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Mortgage and Lending - FirstTrust Home Loans - NMLS License #113781
I'm here to educate homebuyers and/or sellers on topics related to mortgage lending and share fun and educational facts about the real estate market. My company, FirstTrust Home Loans, offers highly competitive rates through our direct to consumer lending channel (no middleman) known as “Direct Rate.” We do this with transparency, service, speed, and a human touch. To meet these requirements, we offer an engaging, concierge user experience. Our Direct Rate system provides an intuitive borrower portal that offers simple, transparent interaction, the ability to easily, safely, and securely upload and store documents with real-time status updates and the ability to engage with experienced lending professionals at any point in the process. We have been in business since 2003. Choosing a mortgage lender is a major decision, and at FirstTrust Texas, we take our jobs as lending professionals very seriously. Please consider us for an opportunity to earn your business. Hope you find my blog educational.
RECENT BLOG POSTS
FHA condominiums that are "approved" by the Federal Housing Administration (FHA) are eligible for an FHA Home Loan. The FHA provides an easy to use condo lookup tool that lists the FHA approved condos. If the condo development is not on the approved list or the approval has expired, then the proj...
09/11/2020
08/20/2020
I'll be posting my mortgage interest rates in Texas for comparison purposes.  With that stated, here are today's rates: 30 Year Fixed Conv. Loan 2.500% | 2.626% APR Low monthly payments that never change.   15 Year Fixed Conv. Loan 2.250% | 2.377% APR Stable monthly payments on a shorter term sav...
08/05/2020
I'll be posting my mortgage interest rates in Texas for comparison purposes.  With that stated, here are today's rates: 30 Year Fixed Conv. Loan 2.625% | 2.766% APR Low monthly payments that never change.   15 Year Fixed Conv. Loan 2.250% | 2.377% APR Stable monthly payments on a shorter term sav...
07/21/2020
I have often been asked the question of how much a Texas mortgage lender can hold when a client establishes an escrow account for taxes and insurance.  Here's the answer:  Lenders can hold no more in escrow than the annual cost for such expenses as property taxes and insurance, plus a reserve equ...
06/03/2020
Many couples are asking their wedding guests to contribute to their “Down Payment Fund” for a wedding gift rather than fulfilling a traditional registry. This is fueled by the fact that many couples live together prior to marriage and already have the necessary items to make a house a home…they j...
08/25/2018
The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States. In the six years that Trulia has conducted this study, this is the first time...
08/01/2018
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.As Entrepreneur Magazine,...
07/27/2018
When most mortgage lenders calculate escrows/reserves required at closing they look for 14 months of reserves.  The key in figuring how many months will be collected at closing will depend on when the first mortgage payment will be due, the renewal dates of their insurance policy, and when the ta...
07/19/2018
Some experts are calling for a slowdown in the economy later this year and most economists have predicted that the next recession could only be eighteen months away. The question is, what impact will a recession have on the housing market?Here are the opinions of several experts on the subject:Iv...
07/19/2018
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Kevin Whatley

Professional Mortgage Lender
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