Our Goal Is to Provide 5 Star Client Care

General Info

It is our goal to serve our clients with 5 Star Client Services. To us that means listening to your needs, being responsive and quick to implement solutions, being available for questions and consultations, and providing on time, reasonably priced financing for your home. Mike is a Certified Mortgage Planning Specialist and Loan Officer Mike speaks regularly on How credit scores affect your life, How to get out of the Debt Rat Race, and Strategic Home-buying. Mike is a full fledged expert on credit scoring. This allows Mike to work with Home buyers that have had turbulence in their financial life and help them to get the credit scores required to accomplish their goals. Mike graduated from University of North Texas with a secondary teaching degree. His plan at that point in his life was to be a teacher and a coach. Mike captained the University of North Texas Soccer Team his junior and senior year. To get additional information about Mike, check out his website at http://www.kingwoodmortgageguys.com, or call him at 281-348-9899 Quirky Sense Of Humor Total Optimist

HoursCLOSED NOW

Regular Hours:

Mon - Fri	9:00 am - 6:00 pm
Sat	10:00 am - 4:00 pm
Sun	1:00 am - 4:00 pm

Contact Info

Phone:

Main - 281-348-9899

Extra - 281-360-8383

Address:

1521 Green Oak Pl, Ste 197 Humble, TX 77339

Link:

http://kingwoodmortgageguys.com

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Categories

Mortgages, Credit & Debt Counseling, Financial Services, Real Estate Investing, Real Estate Loans

Services / Products

Low To Zero Down Mortgage Programs Http://www.kingwoodmortgageguys.com Mike Durr "The Kingwood Mortgage Guy dispels a myth regarding how much money you need for today's down payment when financing a home. Mike talks about conventional mortgages with 5% down. He speaks about the popular FHA program with only 3.5% down. He also speaks about three programs that offer zero down home mortgages; VA for veterans only, USDA, specifically aimed at the rural home ownership initiative, and finally the SETH program which offers up to 5% grant funds to buy a home with zero money down. First lets talk about the conventional mortgage backed by Fannie Mae and Freddie Mac. This is a very popular program that requires only 5% down. The reason this program is popular is that the mortgage insurance is based on borrower qualifications. If you have good qualifications; high fico scores, low debt ratios and plenty of assets, the mortgage insurance is reduced based on the risk of default. Another popular feature of the conventional mortgage insurance compared to FHA is that when your loan balance reaches 78% of the value, the insurance is removed. So conventional loans feature mortgage insurance that is generally cheaper and will end at a certain point. FHA loans are very popular for several reasons, the first is that the down payment required is only 3.5%. The biggest reason people do not buy homes is because of lack of funds. Additionally FHA loans requirement for credit scores is substantially lower than a conventional loan program, the waiting period is substantially shorter for derogatory credit events, and the debt ratios allowed are substantially higher. Also the rates for FHA loans are generally lower than conventional loan products. VA loans are by far the best product and they should be. It is the government and mortgage industry's way of honoring those that have sacrificed time and blood for our country. The key features of a VA loan are that they offer zero down, very good rates and qualifying criteria that is similar to the FHA programs. The way the VA handles mortgage insurance is they collect a premium one time up front, based on your military status. USDA is a government program that has been offered for many years. They found that the people who buy in the rural areas have a lower propensity to default. The program features a upfront premium, but the key element is zero down for these properties. The property has to qualify and the borrower has to meet certain income qualifications, specifically must not be above the median income in the specific area. Finally the SETH program is a new opportunity based on FHA qualification. What they are doing here is offering a 3%, 4%, or 5% grant using the premium on FHA loans to fund either the down payment, the closing costs or both. There are some income restrictions but many people will qualify for this grant program. In summary there are low down payment options for people today, Conventional, FHA, VA, USDA and SETH. Most people who want to buy a home don't know about these programs. If you would like additional information I encourage you to call me at 281-348-9899 Kingwood Mortgage Guy 1521 Green Oak Pl. # 197 Kingwood, TX. 77339 Http://www.kingwoodmortgageguys.com

Payment Options

all major credit cards, visa, mastercard, discover

Brands

Cash Out Refinance, Conventiona', First Time Home Buyer, Investment Property Loans, Jumbo, Refinance, VA Loans, fha

Location

We are in Kingwood at 1521 Green Oak Pl. # 197.

Neighborhood

Kingwood

Amenities

Free Credit Analysis

Associations

Certified Mortgage Planner, Past Deacon @ Second Baptist Church, North Campus