What Is a Forbearance Agreement on a Mortgage?
If you’re facing unexpected financial woes, you may be able to secure temporary relief from your mortgage payments with a forbearance agreement. This begs the question: What is a forbearance agreement, and how does it work? Learn everything you need to know about the topic in this helpful guide from the experts at Champions Mortgage, […]
What Is a Jumbo Mortgage in Texas?
What is a jumbo mortgage in Texas? This special type of home loan differs from traditional mortgages and, therefore, has its own criteria that borrowers need to meet to qualify for one. Read the guide below to get a detailed overview of jumbo mortgages in Texas, including what they are, how to get one, and […]
What Happens If You Can’t Pay Your Mortgage?
Are you at risk of missing one or more mortgage payments and worrying about what happens if you can’t pay your mortgage? As Houston’s most trusted mortgage experts, Champions Mortgage offers the following information about what happens if you miss a mortgage payment and how to potentially strike a deal with your lenders. Whether you’re […]
Refinance FHA Loan Options for Homeowners in 2024
Choosing to refinance FHA loans provides you with access to a government-backed loan funded by the Federal Housing Administration. Many homeowners choose to refinance their property loan when they want their repayments to better benefit their budget or lifestyle. These loans also make it easier for homebuyers with lower credit scores and higher debt to […]
How Long Does It Take To Buy a Home?
If you’re looking for a new house, you’re probably wondering, “How long does it take to buy a home?” Keep reading to discover everything you should know about the process, including factors that can make it take longer. Whether you’re wondering about how to cash out refinance in Texas or what size house you can afford, Champions […]
What Is an Origination Fee on a Mortgage?
Buying a new house in Texas often requires a mortgage. In addition to paying the monthly mortgage bill, you should also expect to pay an origination fee. What is an origination fee on a mortgage, and how much will it be? Champions Mortgage, Houston’s trusted mortgage broker, finds high-quality mortgage deals for your income and credit […]
How to Choose a Mortgage Lender in Houston
Becoming a homeowner or deciding to refinance your home takes some doing, and which pen to use on that mountain of paperwork isn’t the only decision you’ll need to make. Staying on top of the mortgage process will reduce your overall costs and stress, but did you know that choosing a mortgage lender also affects […]
Understanding Mortgage Conditional Approval for a Seamless Home Purchase
Buying your first home is an exciting endeavor, but there are a plethora of steps required. For most people, this home-buying journey starts with the mortgage approval process. However, when applying for a home loan, you may find yourself “approved with conditions” and wondering what that means for you. Houston’s trusted mortgage broker, Champions Mortgage, […]
A Guide To Understanding and Managing Your Mortgage Maturity Date
For most individuals, signing a mortgage agreement is the only way to obtain their greatest investment: their homes. But finalizing this paperwork means new homeowners must repay the borrowed money in small increments over time with interest. Failing to do so results in the lender taking the property, so understanding mortgage maturity dates and how […]
How to Buy a House With Multiple Owners in Houston
When you think about buying a house with multiple owners, you may instinctively assume that you can only do that with your siblings or with your partner as a married couple. However, it’s actually common for friends and acquaintances to pool resources together and buy a property. Many providers have a limit of four co-owners […]
Everything You Need To Know About Self-Employed Home Loans
Do you make your living being your own boss and don’t know how it will impact the type of mortgage you can secure? The experts at Champions Mortgage, the most trusted mortgage broker in Houston, explain everything you should know about self-employed home loans. This guide reveals what you’ll need to secure a loan, the […]
What Is a Pre-Approval Letter, and When Do You Need One?
Buying your dream home is a complex process that begins with earning a letter of pre-approval from a mortgage lender. What is a pre-approval letter, and why is it important? This informative post uncovers everything you need to know about this crucial part of the home-buying process. Champions Mortgage is the leading mortgage broker in […]
What Are Closing Costs on a Home?
Are you considering buying a home and worried about the extra fees you’ll pay during closing? If so, you’re probably wondering, “What are closing costs on a home?” Keep reading to discover what Champions Mortgage includes in their closing costs. As a trusted mortgage broker in Houston, we’re passionate about helping people finance their homes. What […]
FHA vs. Conventional Loans: Which Is Right for You?
As you begin your home-buying journey, you’ll discover new terminologies, mortgage lingo, and several loan options. With all these new terms at hand and the need to choose between an FHA vs. a conventional loan, it’s not uncommon to feel like the whole process becomes a bit confusing. However, with help from the right mortgage […]
What Is a Deed of Trust in Real Estate?
Are you considering buying a house and looking into your best options for financing? You might wonder, “What is a deed of trust?” Keep reading to discover everything you need to know about a deed of trust, including why it’s important and when you should opt for one over a mortgage. Whether you’re looking to cash-out […]
What Do Mortgage Lenders Look At?
Are you just starting your homeownership journey? Then, you might have many questions like how can I afford a home, how do mortgage loans work, and what do mortgage lenders look at when making decisions? All these are valid questions as you start the process of looking for your dream home. And while getting a […]
How Long Does a Cash-Out Refinance Take?
When you buy a home, you gain more than a place to live. A house is an investment and wealth-building tool, and in time, you can use it to access cash for large expenditures through a cash-out refinance. As Houston’s top mortgage broker, our team at Champions Mortgage helps homeowners get the most from their homes. If […]
Are Conventional Loans Assumable?
Many people finance their home purchase with a conventional loan from a bank or private lender. Unlike an FHA loan, conventional loans allow more freedom with the property. However, these loan agreements also tend to include higher interest rates and larger down payment requirements. Are you selling your house before you’re finished paying off a […]
Can You Use a VA Loan More Than Once?
Your status as a member of the military grants you a wide range of benefits from the Veterans Administration, including the ability to take out a VA loan to purchase a home. VA loan benefits allow you to buy property without a down payment, as the government guarantees a portion of the loan. However, many […]
Are Home Equity Loans Tax-Deductible?
Taking out any kind of loan can impact your annual tax situation. With home equity loans in particular, homeowners usually ask lenders one common question: Are home equity loans tax-deductible? This in-depth guide will reveal everything you should know about the interest rates and possible tax deductions you can expect from a home equity loan. […]
How Long Does It Take To Get a Home Equity Loan?
When you need a lump sum of money, you may decide to take out a home equity loan. Doing so involves using your home as collateral to borrow money. A home equity loan can help you with unexpected medical bills, emergency home repairs, or any other major expenses you can’t otherwise afford. How long does […]
What Is Mortgage Insurance and How Does It Work?
It’s no secret that home prices continue to skyrocket, sending many Houston residents scrambling for loans to help pay for their new residential property. However, there’s a catch: many lenders will require borrowers to take out mortgage insurance before providing them with a loan. What is mortgage insurance? Why is it particularly common when the […]
Can You Get a Mortgage on a Manufactured Home?
Manufactured homes have come a long way over the last few decades as viable alternatives to traditional “stick-built” homes. These properties give Houston residents a beautiful place to call home or raise a family at a more affordable rate. However, many people wonder whether they can apply for a mortgage on these properties, and it’s […]
How Soon Can You Refinance a Mortgage?
Many folks that decide to purchase a home will take out a mortgage to afford the property. Your mortgage terms determine the monthly payment amount needed to buy your house. However, there are occasionally opportunities that arise to change these terms by refinancing a mortgage. Interest rates change constantly. Could you potentially find a better […]
How Does a Second Mortgage Work?
Many Texas property owners understand how their mortgages work and what these financial commitments mean for their long-term wealth prospects. But how does a second mortgage work? The guide below covers the advantages and disadvantages of obtaining a second mortgage, as shared by Champions Mortgage, the team that helps locals find the best mortgage lenders […]
Pros and Cons of FHA Home Loans
Pros and Cons of FHA Home Loans Are you considering an FHA loan so you can afford a new house? If so, you probably wonder about the pros and cons of FHA home loans. Keep reading to discover the advantages and disadvantages of FHA loans! Pros of FHA Home Loans When considering the pros and […]
FHA Streamline Refinance Loan: What Is It? & How Does It Work?
FHA Streamline Refinance Loan: What Is It? & How Does It Work? Have you bought a home using a loan from the Federal Housing Administration (FHA)? Did you know you might get lower rates or pay off the loan faster with an FHA streamline refinance loan? Keep reading to discover everything about refinancing your FHA […]
FHA Mortgage Insurance: A Closer Look
FHA Mortgage Insurance: A Closer Look Navigating the housing market presents an intimidating undertaking for people looking to purchase their first homes. The current housing climate and its various obstacles can make the process seem like a gauntlet of daunting challenges. If you aren’t familiar with property purchases, you’ll encounter options that could make your […]
FHA Loan for a Second Home: Requirements & Conditions
FHA Loan for a Second Home: Requirements & Conditions “Can I get an FHA loan for a second home?” is a common question among homeowners wanting to purchase a secondary property as their primary living space. In this guide, you’ll learn all about getting an FHA loan for a second home, including the requirements and […]
Cash Out Refinancing in Texas: Here’s How
Homeowners in Texas with equity in their home may opt for a cash out refinance. By borrowing against their home’s equity, homeowners can utilize their cash out refinance in Texas for debt consolidation, home improvements, or other investments. If you’re considering this type of loan and wondering about the requirements for cash out refinance, you […]
Adjustable-Rate Mortgage vs. Fixed-Rate Mortgage: Which Is the Right Choice for You?
In order to purchase a home, most potential homebuyers will need to consider the merits and downsides of an adjustable-rate mortgage vs. fixed mortgage options. With so many decisions facing first-time homebuyers, financing options can seem far less important than choosing the best house in the ideal neighborhood. The right mortgage, however, is a crucial […]
Texas Home Equity Loans – What You Need to Know
Texas provides homeowners with specific laws that keep them safe when engaging with home equity lenders. Learning about Texas home equity loan rules helps you understand how these loans work and what to expect when you apply for one. Learn about the pros and cons of a home equity loan and the types of restrictions […]
First-Time Home Buyer Programs in Texas 2024
Purchasing your first home consists of one of the most exciting but confusing moments in your life. If you’ve never owned property in our beautiful state, you may have the ability to take advantage of one of the many first-time homebuyer programs in Texas. While many of these programs have eligibility requirements, the Texas State […]