Here is your weekly interest rate update: Conventional 30 year Mortgage: 3.875% Credit score:740 LTV:80% Loan Amount:$200k APR: 4.125% FHA 30 year:4% Credit Score:640 LTV:96.5% loan amount:$200k APR:4.375% Conventional 15 year:3.5% Credit score:740 LTV:80% Loan Amount:$200k APR:4.05%   Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.        10/13/2010

On October 16th, Minute Maid will be presenting "Monsters vs. Aliens" at 8pm at Sugar Land Town Square.  If you are my age or older you remember Drive In Theaters.  And they were AWESOME!!!  Well, they are all gone.  But this event gives you a great opportunity to take the family to a movie with the same out doors feeling of a drive in theater.  And it is FREE.  Keep checking back as they will be having a movie in November also.  For more information check out Sugar Land Town Square.  And right now you can vote on which movie you would like to see in November.    10/12/2010

Many mortgage lenders and banks have recently gone to a minimum score of 640 for FHA loans(down to 620).  At Schmidt mortgage we are still doing mortgages for clients who have under a 640 credit score.    Obviously, these loans are done on a case by case example.  On these loans an underwriter wants to make sure the borrower is a strong client even thou their scores maybe lower.  Here are the requirements needed to help you get approved for your mortgage with a score under 640: A Debt to Income Ratio of 45% of less.  This is a calculation of your debts divided by your income.  You will need to show reserves of the equivalent of your mortgage payment.  This requirement is as little as 2 months of your mortgage payment.  As an example, if your mortgage payment is $1000 then you would need... 10/11/2010

Here is your weekly interest rate update: Conventional 30 year Mortgage: 3.875% Credit score:740 LTV:80% Loan Amount:$200k APR: 4.125% FHA 30 year:4.25% Credit Score:640 LTV:96.5% loan amount:$200k APR:4.875% Conventional 15 year:3.75% Credit score:740 LTV:80% Loan Amount:$200k APR:4.25%   Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.    09/29/2010

  For more information about where to find international restaurants in Southwest Houston, contact me through my webpage and I’ll be more than happy to give you directions. Having lived before in different countries that are also home to international residents; I’ve developed a taste for global cuisine. To start with, I already like variety in my menu and I like to cook fresh and healthy meals for myself and my family as much as I can. My family owned a restaurant in the Philippines so did my grandmother. And they’re not just fast food but real home cooked as ordered. So this didn’t really come as a surprise to me. I share this flare for delectable international food with my mom & my dad who both also like fine tasting food. Thankfully, America being a melting pot and Houston being one... 09/26/2010

I get approached with leads and phone calls from potential commercial sellers all the time. In this market, I have been picking up commercial listings and new clients faster than I can handle. I actually have a backlog of listing appointments for the next month where the owners have already told me to just bring the paperwork to sign. I realize that I'm very fortunate. I also realize my business plan, and model is working very well. However the clients and properties have to fit the model and the plan. There are some owners who contact me to list their properties and when I arrive the expectations, reality, and goals do not match mine. I then have to politely close and say: "Unfortunately Mr. Owner, I cannot list your property for you at this time". "What! Are you kidding me? There are ... 09/23/2010

Here is your weekly interest rate update: Conventional 30 year Mortgage: 4% Credit score:740 LTV:80% Loan Amount:$200k APR: 4.475% FHA 30 year:4.25% Credit Score:640 LTV:96.5% loan amount:$200k APR:4.875% Conventional 15 year:3.75% Credit score:740 LTV:80% Loan Amount:$200k APR:4.25%   Call me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.      09/22/2010

Before you "GO GREEN" check with local regulations and your Home Owners Association. This is an actual photo from a Sugar Land neighborhood. Not edited, not airbrushed, not PhotoShopped, and no funny camera tricks. The new owners actually painted the entire home (brick and all) green. I cant imagine what colors are on the interior pallet. However I can report that the Home Owners Association is recieving dozens of calls per day and the neighborhood residents are furious about it. With so many home improvement stores and paint stores around, it's tempting to experiment with colors when things get boring, or on a just purchased home. Put the brushes down for a minute Picasso. Before you do anything to the exterior of your home check with your local HOA and city regulations. That includes... 09/21/2010

Any loan that is started on or after Oct 4th, will have the new mortgage insurance changes.  These changes are: Monthly Mortgage Insurance will go up from .55% to 85-90%.  Any LTV 95%+ will have .90% monthly mortgage insurance The Up Front Mortgage Insurance will go down from 2.25% to 1% In order to not have these changes affect someone's loan, the FHA case number must be ordered before Oct 4th.  Depending on the speed of your mortgage lender this could take a couple days to do.  While the up front mortgage insurance going down is good news.  The monthly mortgage insurance going up will increase your buyer's monthly payment and may affect how much they can be approved for.  On a $100k loan amount their payment would increase $29.  For more information check out: FHA Changes.  09/21/2010

The Houston Association of REALTORS® reports median single-family home price down -0.2% in Aug-10 over Jul-10, with sales closed at  4,048 homes in August 2010. Aug-10 Quick Facts: The median price of existing single-family homes decreased to $160,000 up -0.2% vs Jul-10 Existing single-family home sales decreased -4.3% from Jul-10 for a Aug-10 total of 4,048 Condos increased in price to $130,500 up 4.4% vs Jul-10 Existing condo sales increased 4.2% in Aug-10 over Jul-10 for a total of 424   Aug-10 Houston Association of REALTORS® Regional Sales and Price Activity Houston Association of REALTORS® Median Price Percent Change in Price from Prior Month Percent Change in Price from Prior Year Total # Units Percent Change in Sales from Prior Month Percent Change in Sales from Prior Year   Aug... 09/16/2010

As I'm driving back to the office tonight after a late meeting I was thinking of what to blog about. All these complicated ideas started popping into my mind, and the clock is ticking to keep up with my 30 Day Challenge. Today was an incredibly busy day. I got to the office early today to make my lead generating phone calls and follow up with clients and prospects. I had to prepare for hosting the Asian American Real Estate Association Luncheon today. Then as usual the clients and prospects started returning my calls and everything backed up as I was trying to rush out of the office. I took a couple of calls from investors clients and realized I was 15 minutes late to my meeting. I rushed across town and fulfilled my emcee and hosting duties. Then I rushed to an appointment. Then I rush... 09/15/2010

If you are looking for a mortgage in Sugar Land or Fort Bend County, you are in the right place.  I am approved to do VA, FHA, USDA and conventional mortgages.  I am also approved to do the MCC tax credit.  If are you not familiar with this tax credit, please contact me.  Call me today, to make sure you are getting the best mortgage possible.  09/13/2010

God Bless those who were lost on this day. God Bless the troops and our government for protecting us, and God Bless Our Beloved Nation. On the anniversary of the tragic events of 9-11 I paused the smell the flowers. I spent time calling and talking to my family. I arrived at my office and just sat at my desk, thinking of how much of my life I have taken for granted. I paused for prayer and remembrance. And for once, I sat at my desk and did not work, and just stared at the wall you see here. In my office there is a 7ft wide photo on the wall that everyone compliments and enjoys. It's a beautiful photo on any other day. Today that photo is a different reminder. A different message. A different purpose. A different inspiration.I can still remember the day exactly as it happened. Every sin... 09/11/2010

                  Here are some tips for securing your home provided by the National Association of Realtors. The FBI reported a statistic that every 12 seconds a home is invaded by someone going through the front door. Make sure that all doors to the outside are metal or solid, 1 ¾" hardwood and have good, sturdy locks. Consider upgrading lock hardware and reinforcing the frame with metal kits that can be purchased and fitted. Use the locks you have. Keep your doors and windows locked, even if you're at home. Get your children into this habit, too. And always lock up your home when you go out, even if it's only for a few minutes. Consider replacing deadbolt locks on doors with a window to keyed deadbolt locks. What is the point if someone can break the window and reach thru to unlock t... 09/08/2010

Who doesn't love Robots???  Well, starting Oct 24th you can check out the "Robots" exhibit at The Houston Museum of Natural Science- Sugar Land Branch.  The exhibit is based on the 2005 Movie "Robots", which stares Robin Williams.  The exhibit will have:   Climbing aboard the Crosstown Express Becoming a Robot Explorer Using Build-A-Wonder-Bot How Robotic Arms Work Learn about Workforce Robots Check out Robots of the Future Robot Hall of Fame   This exhibit is going to be 3,500 square feet of Robot fun.  You will not want to miss this.  For more information check out www.hmns.org.   09/08/2010

I'm Negotiating with Chicken LittleWe are working in interesting times in this current real estate market. With the current recession and market statistics I don't have to remind my fellow Realtors about what we are dealing with. Most of us are realistic and inform our clients about pricing strategies and what it takes to sell, purchase, or lease in this market. I'm working on listing a commercial office tower. Less than a minute into the appointment the owner proclaimed how great of a building he owns and the privilege of leasing from him. In his words people should be lining up to fill his building. After our appointment he admitted it really is a tough market and he was caught off guard. The previous commercial agent abandoned the listing, never marketed the property, and never showe... 09/08/2010

 I just finished this video and wanted to pass it along.  Keep in mind I am approved to do FHA, VA, USDA and Conventional mortgages.  I am also approved to offer the MCC Tax Credit.  If you are thinking of buying your dream home or refinancing that home, call me today to make sure you are getting the best mortgage possible!   09/07/2010

Mike's Neighorhood Report for Colony Cove (September 2010) Colony Cove is located in the acclaimed City of Sugar Land. A small community of only 28 homes in First Colony which began construction in 1999. The community is located off Austin Parkway near Grants Lake and Lexington, Colony Cove is convenient to Highway 6 and Highway 59. This subdivision is surrounded by retail and restuarants. The neighborhood features some lake front homes, contemporary stucco exteriors, amd one of the most desired locations to live in Sugar Land.   Currently there are 6 homes listed on the market for September which is more than usual for this exclusive neighborhood, where the typical marketing time is less than 30 days.     5 available   0 option pending   1 pending sales   1 rental available  Current pr... 09/05/2010

An email from a lender this month notified us that The Federal Housing Administration (FHA) is giving homeowners and buyers until October 4 to lock in a low monthly insurance premium. After October 4, the monthly insurance premiums on FHA loans will increase by over 63%.Are You Still Waiting for the Market Prices to Bottom Out? A home buyer purchasing a $200,000 home using a $193,000 FHA mortgage before October 4 would pay an insurance premium of $88.46 per month. If the same home buyer waits until after October 4, the insurance premium would jump to $148.01. In this case, the home buyer would spend an additional $59.55 per month, which is an extra $7,146 over  a 10 year term. Although the upfront mortgage insurance premium is going down after October 4, the real impact to the home buy... 09/02/2010

Well, it is safe to say Coco is a Diva.  She will only eat the best.  Which forces me to buy her the best.  Where do I do this???  At a big chain, nope at a local store that prides themselves on carrying the best food and treats for your pet.  Natural Pawz!!  Natural Pawz has:   Natural Food and Treats- none of their products contain soy, corn, wheat, or by-products.  None have been recalled.  Holistic Health Solutions Nutritional Consultants- Does your dog have a food allergy??  If so they can help you with what diet works best for your pet Supplies and Accessories- aka Toys!!  Lots of cool toys Grooming- it's the only store you need for your pet   Coco isn't really a Diva, maybe I just want the best for her.  If you are the same way check out Natural Pawz.  They have 6 locations in Ho... 09/01/2010