Mortgage Companies Dallas Texas | Dallas Mortgage Lenders - Berkshire Lending

Just wanted to let you know we are working on increased maximum Conventional loan amounts of $625,000 in Texas now. This is significant, because you can now use a Conventional loan to purchase a home that would have required a Jumbo loan previously. This means less down payment and lower rates. If you would like to get pricing on a Conventional loan for you, just contact our offices and we’ll get it for you! That’s it for today! For more information please visit our website | Berkshire Lending |

This is the time of year counties are sending their property tax bills out. There are two issues I see every year with regard to property taxes. …Issues that put people in tough spots. 1) Some people just don’t have the money saved up to pay their property taxes. …They might have had the money but had to use it in an emergency. …or any number of other things. 2) Some people have an escrow account on their mortgage — but their mortgage company didn’t collect properly. This often results in an arrearage… This means your payments go way up until the escrow is caught up. If you are in either one of these situations — one possible fix is to refinance. We can often refinance someone in either one of these situations, and we pay the property taxes through the new refinance loan.. …Not only that but usually at a lower rate and payment than they have now. Please let me know if you have more questions about how this refinance works. That’s it for today! For more information please visit our webs...

If you are self-employed and can’t use your tax returns to prove income there are loan options for you. You can use your bank statement deposits to prove income. We have 10% down bank statement loans for purchase and refinance with good credit. Let us know if you are in this situation. We’ll be happy to help you with your home purchase! Hope you have a great day! For more information please click here| Berkshire Lending |

If you are self employed and can’t use your tax returns to prove income there are loan options for you. You can use your bank statement deposits to prove income. We have 10% down bank statement loans for purchase and refinance with good credit . Let us know if you are in this situation. We’ll be happy to help you with your home purchase! Hope you have a great day! Thanks for reading!

If you get 1099’s instead of W-2’s at the end of the year from your employer — that means you are self-employed. At least that’s how we perceive it in the mortgage world. The traditional means of income documentation for self-employed people is two years of tax returns. Some people that are self-employed tend to “maximize their deductions” so to speak on their tax returns. Even though their gross income is good, their adjusted gross income on their tax returns is low. That’s good for paying taxes, but bad when you want to get a mortgage. One possible way around this is to take advantage of one of our Non-QM 1099 loans. We just need your last two years of 1099’s and no tax returns. We use the income figures on the 1099’s for income. If you or someone you know is in this situation — give our offices a call or shoot us an email. We would love to help you! For Complete post Please visit our website | Berkshire Lending |

When it comes to your mortgage payment your credit score can affect your interest rate and your homeowner's insurance rate. There is another part of your payment that is also affected by your credit score… Your mortgage insurance payment on Conventional loans. Let me give you some examples of how your mortgage insurance rates can vary due to your credit score. These numbers are based on a $100,000 loan at a 95% loan to value ratio. MI Payment Chart… Credit Score Range MI Payment Amount > 760 = $45 720 to 759 =$51.6 680 to 719 =$74.17 620 to 679 =$95.83 The lesson here is to protect and monitor your credit as much as you can. Keeping your scores up can save you a lot of money! That’s it for today! For more information please visit our website | Berkshire Lending |

For foreigners that aren’t eligible for a social security number, but want to work in the US the IRS issues ITIN numbers. We can do loans for borrowers with ITIN numbers. Here are some bullet points on this program… 1) Borrowers Can Be W2 Or Self-Employed. 2) Loan Amounts Up To $1.5MM 3) Primary And Second Homes 4) Full Doc Or P&L Only 5) Up To 90% LTV 6) 1 Year Employment Documentation Required If you or someone you know needs an ITIN loan — contact our offices and we’ll see if we can help you. That’s it for today! For More Information, please visit our website. Berkshire Lending