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Started a new family tradition that we've nicked named wish day. We gave our son a few days to think about three things that we would have to say yes to. This is what he came up with:

1. Movie night
2. Sleep in Mama and Papa's bed
3. Double chocolate chip cookie ...

Gregg Ranch had a few special visitors today! Hand feeding sheep and llamas with style 😁

Sarah Vaughan Diana Murrieta Gregg ...

Mortgage insurance now permanently lower for FHA mortgages

Mortgage Insurance FHA
The reason why FHA is gonna rise in popularity, and that has to do with mortgage insurance, which is not a fun thing to talk about but a big change in the FHA world is that the way that mortgage insurance is calculated has forever changed.

So with a conventional loan, it all has to do with your LTV, which is a representation of how much you're putting down and your credit score. Those two things. Coupled with FHA, it is credit score independent, and when it comes to down payment, if you're putting minimum.

The way that it's calculated, it used to be 85 basis points times the loan amount. It's been reduced by 30 basis points, so now it's 55 basis points, times the loan 📍 amount. And so on average, I'll actually put a chart. It's a big savings.

It used to be a line in the sand. If you were around 700 as far as a FICO score, it would make more sense to go conventional. Your, your PMI or your mortgage insurance would be less than going FHA. But now the FHA has done the recalculation. I've looked with several clients, even those with credit scores in the 720's and 730's, it may make more sense to do an FHA loan
FHALoans #MortgageInsurance #CreditScore #PersonalFinance #Homebuying #FinancialTips #FICOscore #ConventionalLoans #Downpayment ...

Another past client had a big win this week with a Recast. 🏠💰
A recast is a way to permanently reduce your monthly payments by making a large payment just towards the principle of your home. You keep the same interest rate but your monthly payment is recalculated based on the new balance. Learn more about how it works and whether it could be a good option for you! 🤔 Recasts are achieved through whoever is currently servicing your loan so this doesn't apply across the board. 💡 UWM is one of my favorite lenders that I like to send loans through as a mortgage broker, Their recast policy is very straightforward.
1.You have to at least pay $5,000 towards the principle balance
2. The cost is $150
3. Must be a Conventional loan. ...

Ever wondered How to find out if a Property currently has an Ag Exemption? These steps work for any County in Texas I'm looking up a property in Denton County, this is the tax website: https://propaccess.trueautomation.com...  You can also Google: "______County tax website property search for whatever county you're looking at.

So guys, I'm a little nervous. I don't want people showing up at my house. You know what my name is. If you didn't know this (it's kind of creepy) But you search ANY county tax website in Texas and find out where people live by looking up their name. So this is, this is my house and I'm gonna show you behind the hood how I look at properties that I'm going to buy that have acreage. So, as some of you might know, I didn't grow up in the country. I grew up in the city in Lewisville, Texas. This is some information I wish I would've known, as buying a property with an agit exemption is one of my favorite strategies.How do you know if a property has an AG exemption on it? This is what you need to look for:
Agricultural Market Valuation.
📍 If there's not a dollar amount there, there's not an Ag exemption on the property. Also, there has to have been an 📍 agricultural exemption on the property for the last five out of seven years. So if you're establishing one from scratch, it takes you five years, and that's a real beating. I don't know about you, but I don't wanna wait around five years. So when I bought this property, I specifically looked and found one that had a agricultural market valuation (aka Ag Exemption).

If you have a property you need  help with or general questions, Reach out for help! (817) 781-9392 www.wesgregg.com

#realestate #mortgagebroker #homeloans #agexempt #loanswithwesgregg ...

Family Day in Fort Worth!
Special thanks to my wife for coordinating they boys' outfits. ...

I'm calling 2023 the year of Improvements. Now, hold on. I'm not talking about self-improvement. I'm talking about real estate bargains in 2023. Look for properties that need a little bit of help, that need a little bit of improvement. I'm specifically talking about countertops, flooring, painting, things like that, they're really easy to Sub Contract out. Or if you're handy, you can take that work on. Also, fellas out there, if you want to impress your lady.. Find an outdated property, Negotiat with the Seller and have them cover your closing costs with a seller concession. You can use the money you would've used for closing costs and upgrade as your wife or your lady sees fit. That's my plan for 2023. We'll see how it turns out

#txrealestate ...

In the spirit of always improving and getting better, I have some exciting news. My company, NXT Mortgage is joining up with UMortgage.

I'm still a Mortgage Broker but now I have access to even more lenders .  I'm able to shop 22 different lenders whenever we're working together to get you the best possible interest rate and deal on the home loan.

The other big benefit is when it comes to client experience. My desire was and still continues to be providing the best client experience possible. So with this move, I have access to an entire team of local Processors and Operations support to help make the process even smoother and to close your loan as soon as possible.

If we've done business together this year or in the past, I am truly grateful for your support! And if I don't talk to you before... Merry Christmas! ...

Although our tree has been up for a couple weeks I feel that December 1st means that the Christmas season really is upon us. If You have some leftover pumpkins let us know 🙂 ...

How to Buy acreage in Denton County Texas with Minimum Down
Buying acreage is one of the most rewarding real estate transactions ( It has been for me at least!). However, if you're just buying raw land or just acreage with no house on it, you cannot get a traditional home loan. That means no Conventional, FHA, VA, USDA, it's not possible. Also if you want to buy raw land/acreage it involves a large down payment of 15%-20%.
If you don't have the large downpayment set aside or wish to keep more cash in your pocket I recommend taking a shortcut. And that involves finding a property that has a house on it that has the number of acres that you desire. That way you can go in and put minimum down. You're looking at 0% down to 5% down, depending on the loan program.

And what's really great is that there's no limitation on acreage as long as there are recent sales or recent comps in the area.
#land #acreage #home #realestate #househunting #denton #dentontx ...

Assets -- The Last of the "BIG 3" Specifically we're going to talk about the Cash to Close. This is the dollar amount that your bring with you to closing at the very end of the home buying process. It consists of the downpayment + closing costs.
The downpayment must come from the borrower. Viable sources are checkings, savings, borrowing against a 401k/ retirement, or a gift from a family memeber.
The closing costs on the other hand can be covered by the seller via a SELLE CONCESSION. So this is something that has been non-existent for the last two years. 2020 - 2021, the Sellers had all the power and seller concessions/ seller credits were not something that I was seeing on contracts at all. So that's changed with a quickness. If you're looking to buy in this current environment, sellers are willing to help out when it comes to closing costs.

I would talk to your real estate agent about that that's something they write into the contract and negotiate.
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#realestateinvesting #firsttimehomebuyer #realestatelife #realestate #mortgage #homesweethome #denton ...

As a millennial, trunk or treat was not a thing (at least that I know of) growing up. I never really got the hype. But, I have to admit it is a pretty great concept.
Also, the land cruiser/ lx470 split tail gate is the real winner here.
Happy Halloween 2022!
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#lx470 #landcruiser #trunkortreat ...

Your Credit Score is your financial report card. Even if you think the Education System is lacking and not a proper way to gauge your financial literacy... it still makes sense to study up to be an "A" student. Credit is what we have the most control of when it comes to qualifying for a home loan. It will save you the most $$ as well when it comes to interest rate and PMI.
When it comes to CREDIT, a 740 is a perfect FICO score.

So in the mortgage world, it doesn't matter if you're a 740 or an 800. You're gonna get the max benefits when it comes to the loan. Typically, if you're in the 700's, a Conventional loan makes the most sense. If your credit score is 620+, but under 700, typically a Government loan is gonna make the most sense, which the typical ones are FHA, USDA, and then if you're a Veteran, then all day the VA loan program is the BEST.

#creditscore #financialfreedom #mindset #financialliteracy #wealth #realestate ...