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Financing in Allen : Real Estate Advice

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  • Home Buying53
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Activity 5
Mon Nov 14, 2011
Don Groff answered:
Hello Richard,

My 15 year rates with the top 15 wholesale lenders in the country are averaging about 3.125% a close to par rate. If you are looking for a no cost refi the rate would need to be at about 3.25% to 3.375%. So it looks like you can most likely do something. Even at less than a point in savings if you are not adding to your loan with a bunch of closing costs it makes sense to look into refinancing.

I only lend in Texas but you should be able to find similar rates and fees with CA based lenders.

Best of luck to you.

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o.512.669.5599 m.512.633.4157
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Thu Dec 10, 2009
Ronda Allen answered:
The answer is - Yes, with qualifications. Lending rules have changed dramatically in the last year. 2009 was definitely a year of changes in the industry. A spouse is not required to be on a home loan and still retain rights of title in Texas. I suggest you contact a very good Texas-based lender and discuss your options. Right now, you can ask for a Good Faith Estimate from any of the lenders you are considering for a refinance. After January 1, 2010, there is a new form for Good Faith Estimates. It is available now, and you should ask the lender to go ahead and explain it to you. It makes full disclosure by the lenders a little more apples-to-apples and explains fees that are fixed and fees that are adjustable (within tolerances). We agents are just being introduced to this form ourselves.

If I may, I recommend you contact Rodney Anderson Lending Services, A Division of Supreme Lending. Rodney is a top mortgage broker in Texas and offices locally in Plano. He has been a trusted advisor on all things loan-related to me for over 7 years, after a strong recommendation from a client. You can reach Rodney and his team of associates at 1-800-express, or 972-985-5208, or online at You can see Rodney on tv on shows like Good Morning Texas and MSNBC. And, you can tune in, and call in, to the local radio show. He's on 105.3fm each Saturday morning at 9am. Ask your question on the air and help many others with similar questions who may also want to hear the answer.

Have a blessed day!

Ronda Allen, Realtor and Certified Purchasing Manager
RE/MAX Dallas Suburbs
CEO of
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Mon Aug 31, 2009
Tommy Burris answered:

If you lose the interest deduction on your home because it is paid..... Will you lose out on other deductions because you do not have enough deductions to overcome the standard deduction.

Must be considered.
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Fri Jun 26, 2009
Dallas Texas answered:
You need refer to your mortgage determine if you pay off no penalities.

Investing in real estate we work with world wide investors they are purchasing homes here in area for short / long term investment receive annual tax benefits

Recommend confer with CPA for your best options they review your entire financial records and tax benefits.

Direct link if you are considering real estate investments

National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
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Sat Mar 15, 2008
T.E. & Naima Sumner answered:
Excellent question Kd,

Many people that shouldn't have been approved for a loan in the first place were approved, and most of them by brokers not bankers. Those loan officers didn't act as "counselors" but just looked at the situation from an immediate situation.

Stricter guidelines exist now where borrowers cannot do easily a loan based on stated income only. They have to prove that they are receiving the income and where it's coming from and how long they've been getting it. This makes it more difficult on self-employed or people that don't report all their income.

It is a good idea to get approved for a loan now and know where you stand financially, even though you are not looking to purchase until August, and if there are any issues that need to be addressed, you will have plenty of time to take care of them before August.

I will be very happy to assist you in that matter as well as helping you find your perfect home.

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