Darrick Ethien

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Confused About FHA Loans Or Conventional Loans? Here’s Some Help

are conventional loans better.jpgBuying a home is an exciting as well as difficult task. Nearly everyone wants to buy a home of their own at some point in time. However, it is not always possible to finance the entire amount on our own, and as a result people opt for home loans.

When looking for mortgages, find out what the possibilities are of getting a loan in the state where you live and what borrowers need to comply with. For example, to get home loans in Texas, you will find different loan limits for various counties. This can help you decide on your budget and what kind of property (e.g., single, duplex etc.) you will be able to afford.

In addition to the above, another important decision that you need to make when opting for home loans is the type of loan that will be suitable for you. With a wide variety of home loans available such as FHA loans, VA loans and USDA loans, you might find it confusing to decide...

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Qualifying For A VA Home Loan in Texas

FHA loans.jpgDespite the Department of Veteran Affairs offering lucrative terms on home loans, not even 12% of military veterans have taken advantage of it. The primary reason for such low participation is that many veterans are unaware of the loan programs and if they qualify. Most have instead opted for loans offered by the Federal Housing Administration (FHA). However, with the sharp increase in mortgage insurance premiums on FHA loans in 2014, the demand for VA loans has risen.

To apply for a VA Loan you will have served in the Army, Navy, Air Force, Marines, National Guard or Coast Guard for a minimum of 90 days. Additionally, for VA Loans in Texas, you must meet the following criteria:

• You are an active military serviceman looking for a permanent change of station (PCS) to Texas

• You are an active military person and already living in Texas

• You had a home in Texas when you entered the...

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More to VA Loans Than Competitive Loan Rates

va1.jpgThe advantage of taking out a Veteran Affairs (VA) loan is quite far reaching. The main purpose of this loan is to make life easier for active duty or retired military personnel. That is why lucrative benefits are offered to them through this program, which includes providing a guaranty on loans of up to 100% value of the property that they choose to buy. Even the funding fee from 0% to 3.15% that may be required for this loan can be financed by the Department of Veteran’s Affairs. This mortgage also provides another key benefit of zero down payment. Also, in terms of interest rates, among all the states VA loan rates in Texas are lower due to the support provided by the state.

There are some conditions to fulfill in order to get financing for a home loan under the VA mortgage program. The price of the house should not be more than the reasonable value as assessed by the department. So...

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Want a home in Texas? Look for a credible lender

Home-mortgage-loan.jpgA reliable mortgage lender in Texas is one that can guide you in choosing a suitable loan and also prepare you in advance for all the steps involved in closing it. From loan application to closing, they make sure that the entire process completes seamlessly. Let’s take a look at some of the dos and don’ts that they may suggest before and during the loan application and processing.


  • Provide sufficient documents such as bank statements, pay stubs and others

  • If applicable, providing proof of your current home such as the sales contract, relocation, closing statement and other details

  • Notify the lender about gift funds received for buying a home

  • Inform the lender of a change in employment status such as change of job, an increase in pay at the current job, change of payment methods (from salary to commission or vice versa), etc.

  • Notify the lender about any major change in credit...

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What is a home mortgage?


You have made a promise to yourself to improve your credit history and work towards buying a new home. When you think of buying a property, the hassles of the mortgage process can be overwhelming. However, if home buyers educate themselves on the basics of the home mortgage, this does not have to be the case.

What is it: People planning to buy a home usually can’t afford to pay the whole amount of the home in cash. Hence, they require the services of a home mortgage lender. In simpler terms, you borrow money from a lender to buy a property, and need to repay the amount through specific monthly payments over an agreed period of time. The payable amount and repayment period are determined after considering your monthly income, expenditures and the total loan taken.

When looking for a mortgage, the primary factors that need to be considered are the amount that needs to be borrowed...

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Buying a House? Here’s A List of Things to do

Home_Loan.jpgBuying a house is a big investment, and obtaining a mortgage is another critical financial commitment that homebuyers need to make. The process of home buying itself requires a lot of planning and research. You can also take assistance from a knowledgeable lending firm to identify and obtain the best possible loan. Nevertheless, there is no alternative to self-education when it comes to identifying the best loan option. Here’s a list of things you need to follow to get the best possible deal:


Home buying is a complex process, and it is important for buyers to get familiar with the entire procedure. The more knowledge you have, there are more possibilities to make the right decision. Even if it is not your first effort to buy home, knowing about the rules and regulations will help you sail easily through the whole process. The real estate market has been going through...

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Learn from the Regrets of First Time Homebuyers

buyers.jpgFirst time home buying is an emotional process. As per a recent survey conducted by Zillow, a prominent real estate information portal, nearly half of first time homeowners felt that they made a mistake in choosing their first home. They felt that given a chance to do it again, they would make a different choice.

Let’s take a look at the lessons learned and regrets of some first time home buyers:

  • In the Zillow survey, 62% of the respondents said that they were not happy with their first home’s size or layout. In particular, they would have liked more space in general, a bigger kitchen, or storage areas.
  • More than a quarter of respondents said they did not like their neighborhood.
  • Nearly one in every four homeowners complained about not having as big enough yard.
  • Around 17% of respondents did not like the parking arrangement as they were too caught up in dreaming about wall paint and...

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What should you know about Mortgage Interest Rates?

Do you keep checking the current home mortgage loan rates as you are planning a buy your first home?

Mortgage rates fluctuate frequently, and especially when they go upward, home buyers may end up paying higher for their property.

The Factors that affect the rates

There are several factors that influence mortgage rates, and eventually how much home buyers will be paying. Assessing the financial market, financial or mortgage experts forecast about the future rates. For example, experts anticipate that there will be an increase in average mortgage rates towards the end of 2014. It is anticipated that the mortgage rates may go up to between 5 percent and 5.5 percent.

As a potential homebuyer you needn’t panic hearing these forecasts as the market trends don’t always follow a predictable path, and can change significantly.

The primary reason for changing mortgage rates is the actions...

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VLB Loan program TX

Service First Mortgage - The Davidson Group are experts in FHA, VA, USDA, Texas Veteran Loans (TxVLB), and Conventional home financing - and more. We are the leading Texas mortgage experts for the past 16 years and nationally ranked and renowned, but locally owned. Contact us today.logo.JPG

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