Austin Mortgages and Short Sales

A short sale can be a good deal for a buyer, but patience is required in any transaction involving a short sale. Because buyers are dealing with the seller’s lender as well as the seller, paperwork does not move quickly. In many short sales, the homeowner has stopped making payments and the home is vacant. It is in the lender’s best interest to get the defaulted loan off the books and accept an offer, but that doesn’t mean they will jump at any offer.

The Ins and Outs of Reverse, Austin Mortgages

These are types of Austin mortgages given to people 62 years old or older and have high levels of equity in their home. Reverse mortgages allow senior homeowners to convert some of the equity in their home into cash while retaining home ownership. These kinds of Austin mortgages don’t have to be repaid until the home is sold, the senior homeowner moves onto some other type of residence, or through a settlement of the estate.

3 Requirements for obtaining Reverse, Austin Mortgages

There are three main requirements for a reverse mortgage:

1. the applicant must be at least 62 years old
2. own their home outright or have a small amount owed on the mortgage
3. the home must be their principal residence

The actual amount of the loan and the interest rate are determined by different factors, like the appraised value of the home, the age of the loan applicant and whether the loan will be taken in one payment or several payments. Generally, however, the older a loan applicant for reverse, Austin Mortgages the fewer requirements there are and the more money is available.

Help with Austin Mortgages

For more information on Austin Mortgages please contact our experienced Austin Mortgage Bankers at Leader1 Mortgage by filling out the form above or by phone at 512-356-9436. We look forward to helping you with any questions you may have about Austin Mortgages.

Austin Mortgages Image: renjith krishnan / FreeDigitalPhotos.net

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A low credit score can make it more difficult to get an Austin home loan. Generally, Austin mortgage lenders are looking for credit scores in the upper 600s and above. Anything over 750 is an excellent score and once your score wanders down into the 500s you are considered a credit risk.

Steps to take Before Applying for an Austin Home Loan

Improving your credit score and financial standings will give you more options for securing an Austin home loan with bad credit. There are some proactive steps you can take to put yourself in a better credit position:

1. Knowing your Credit Score can Help you secure an Austin Home Loan:

   Start by getting a copy of your credit report. It is not uncommon for credit reports to contain errors or old information that you are eligible to have removed. Double check account numbers and balances for accuracy. Make an effort to bring any delinquent payments up to date and bring any high credit balances down.

2. Paying off your Debt Improves your Chances for an Austin Home Loan

   Make a plan to pay down debt. Credit debt can feel like a massive mountain that is nearly impossible to climb. Fortunately, that is not the case. It can take some time, but the financial pay-off is considerable. Some experts recommend starting off with your smallest debt and paying that off first. This can have both a psychological payoff and a positive impact on your credit score.

3. Increasing the Size of your Down Payment can Help you get an Austin Home Loan

   Consider a larger down payment. A mortgage lender authorized to offer Austin FHA loans guaranteed by the Federal Housing Administration are a good place to start your search if you are a first time home buyer with some credit issues.

Looking for more assistance with securing an Austin Home Loan? Look no further, our expert and experienced Austin Mortgage Bankers can help you through the difficult process of qualifying for an Austin Home Loan. Contact an Austin Mortgage Broker today at: 512-356-9436 to get the process started.

Austin Home Loan Image: vichie81 / FreeDigitalPhotos.net

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There is some good news out there for homeowners who have seen the value of their homes decreasing. The Home Affordable Refinance Program (HARP) is a government mortgage refinance assistance program that can get homeowners a fixed rate loan at a lower rate and possibly save thousands of dollars over the life the loan.

Austin Mortgage Refinance Paramaters of Eligibility

The parameters of eligibility to refinance mortgages through HARP are quite narrow, but it can be a great path for underwater homeowners.

This is how it works:

• Mortgage must be owned or guaranteed by Fannie Mae or Freddie Mac before May 31, 2009
• Must be current on your mortgage with no late payments in the last six months and no more than 1 late payment in the last 12 months
• The current loan-to-value ratio must be greater than 80 percent

Contact the Austin Mortgage Refinance specialists at Leader1 Mortgage of Austin to see if you qualify, we are happy to help with all of your Austin Mortgage needs.

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Not that many years ago, Austin was a small city with a centrally located airport. Now Austin is a growing city of over 800,000 residents with an international airport located on the southeast edge of town. The Mueller neighborhood is an attractive development on the site of the old Austin airport. This planned Austin neighborhood in the midst of east The east side of town has homes of all sizes, along with shops and parks.

An Austin Neighborhood with Plenty of Green Space

Among the highlights of this 700 acre multi-purpose Austin neighborhood are 4900 homes, 140 acres of green space and 13 miles of hike and bike trails. When completed, this Austin neighborhood will have five parks in all and a small lake. The idea is green building and green living, with easy access to public transportation. Three golf courses in the area add to the recreational appeal of this east Austin neighborhood.

An Austin Neighborhood with a Great Location

The Mueller development is an Austin neighborhood that is conveniently located near both downtown and the University of Texas. The accessibilty of public transportation is a key perk to the Meuller neighborhood. Shopping and restaurants within easy walking distance throughout the neighborhood round out the multiple reasons this Austin neighborhood is the lastest hot spot.

Austin Mortgage Bank can Help you Choose the Right Austin Neighborhood

Leader1, an Austin Mortgage Bank, can help you find the right Austin neighborhood, and secure the best mortgage for your Austin home. Contact one of our experienced Austin Mortgage Bankers today to discuss your Austin Home Mortgage needs: 512-356-9436.

Austin Neighborhood Image: xedos4 / FreeDigitalPhotos.net

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What could be better than German beer, music and sausage for Austin family fun? This is the 51st year for the annual “Salute to Sausage” celebrating German heritage with food and music. Wurstfest runs from November 4 to November 13 in Landa Park in New Braunfels. There are all kinds of fair-like attractions at this festival, including rides and live music. And more lederhosen than you’ll see anywhere outside of Germany!

Austin Family Fun with Pumpkins

The Evergreen Christmas Tree Farm in Elgin offers a pumpkin patch and the Great Pumpkin Hunt every weekend in October.  Sweet Berry Farms in Marble Falls has a pumpkin patch, hayrides and a hayfield maze in the shape of Texas. There is something for all ages, along with homemade ice cream and other treats.

Wild Austin Family Fun

Halloween can be celebrated all month long by an Austin Family.  Boo at the Zoo is a unique opportunity to see the zoo by flashlight on weekends in October.  Wear a costume, bring a picnic and take a haunted train ride.

Howling Austin Family Fun

Spend an evening at the Austin Nature and Science Center for a Halloween Howl on Saturday, October 22.  See the spooky side of nature with all kinds of hands-on Austin family fun.  Check out the other Parks and Recreation events like a free haunted house and Halloween carnival.

Leader1 Mortgage of Austin is proud to be part of the Austin family community. Contact one of our experienced Austin Mortgage Brokers today to discuss your Austin Home Loan needs:  512-356-9436.

Austin Family Fun Image: Vlado / FreeDigitalPhotos.net

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Looking for a home can be exciting and daunting. The exciting part is the infinite possibilities about where you might live. But it turns out that is also the daunting part — too many possibilities! The American dream of a house on a quiet street with a white picket fence has faded some in the last few years, but there are so many other possibilities to consider.  Sometimes thinking out of the box is good when it comes to Austin home buying and the Austin Mortgage Bankers at Leader1 can are here to help.

Austin Home Buying: Condos

With the building boom a few years ago, there are plenty of cool condo locations throughout Austin. Think of this Austin home buying experience as owning a little piece of hip Austin.  Condos are not just for the young and single crowd.  Retirees and families are also shedding the home ownership hassles and moving into the maintenance free world of condos.

If you are considering a condo, it’s a good idea to investigate the condo association and the management company.  Condo living is not hassle-free if the building is not well run.  Also, visit the building at different times of the day to see what it’s like.  You don’t want to be the only family living in a building of mostly young singles — or the only single person living in a building of mostly families with young children.

Austin Home Buying: Fixer-Upper

If your Austin home buying dreams are set on owning a house, but your budget is limited then you might want to consider a fixer-upper.  The days of buying cheap to fix-up and sell high are gone (the shows always made it look so easy).  But buying an Austin home that needs a little elbow grease in a desirable neighborhood is great way to stretch your housing dollars.

A few caveats on the fixer-upper: home repair is always harder and more expensive than you think.  Before closing on an Austin home that needs work, be sure to get bids from contractors ahead of time so that you truly know what you are getting into.  It’s a not a deal if it needs major foundation work or other unexpected repairs.

Leader1 Mortgage, an Austin Mortgage Bank, is an important ally in your home search.  Call us with your questions about different types of Austin Home Loans. Contact one of our experienced Austin Mortgage Bankers today to discuss your Austin Home Buying needs:  512-356-9436.

Austin Home Buying Image: Digitalart / FreeDigitalPhotos.net

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According to the latest data, everyone’s jumping on the refinancing bandwagon and/or moving to Austin.  Well, perhaps the data isn’t exactly related. The Mortgage Bankers Association announced that mortgage refinancing applications jumped 15.5 percent the first half of July. Mortgage rates remain remarkably low amidst the European debt crisis and debt ceiling bickering in Congress.

So, what does that have to do with moving to Austin?  Our beloved town has made another list, coming in No. 5: “Combining several lists: the U.S. Office of Management and Budget, the U.S. Bureau of Labor Statistics, Forbes, CNN, and Sperling’s Best Places, … the top five cities for both job opportunities and affordable housing.”  Bucking the trend of the Midwest boom, Austin continues to be a Southwestern city that is blooming despite the harsh economic soil.

Baby Boomers Moving to Austin

Austin home prices have remained steady and home sales robust.  It seems that less people are moving on and more people are moving to Austin.  With slightly fewer homes for sale this summer than last, homes in hot neighborhoods go quickly with multiple offers.

Austin has a rep as the trendy, quirky university and music town for the 20 something crowd, but it’s also attracting retirees.  ABC World News recently highlighted how Austin is attracting retiring Baby Boomers by the dozens.  The healthy housing market was noted on the show to be 15 percent below the national average on prices.  Good weather, great culture and low cost of living, what’s stopping everyone from moving to Austin?

Moving to Austin is a Great Idea

At Leader1 Mortgage of Austin we completely understand why people are moving to Austin.  We love to help present and future fellow Austinites with Austin Home Loans. Contact one of our experienced Austin Mortgage Bankers today to discuss your Austin Home Loan needs:  512-356-9436.

Moving to Austin Image: Digitalart / FreeDigitalPhotos.net

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Just when you think you’ve been to all the hip places Austin has to offer, there is a new trendy spot to try. The area east of downtown Austin has been revitalized in recent years with the help of civic leaders and innovative developers.

East Austin Transformation

Over the last few years, the City of Austin’s Commercial Revitalization program has aimed its magic wand at East 11th and 12th Streets. Okay, maybe it’s not magic but rather the Urban Renewal Agency and the Austin Revitalization Authority that have transformed this historic part of Austin. Just blocks from downtown, you will find art galleries, restaurants, restored homes and shops.

New Village in East Austin

East Village is a mixed use development featuring stores and loft apartments. Melding the old with the new, East Village retains the character of the neighborhood while bringing its own new vibe. Just blocks from museums, libraries and restaurants, plus just a ten minute walk to the infinite possibilities of downtown Austin.

East Austin is Waiting for You

East Austin is a vibrant and growing community, which makes it a good investment. Leader1 Mortgage of Austin is proud to help you with Austin Home Loans in East Austin or anywhere in this terrific town. Contact one of our experienced Austin Mortgage Brokers today to discuss your Austin Home Loan needs:  512-356-9436 .

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Your home is your greatest asset, and giving it a little TLC from time to time will not only protect your Austin home, but could also lower your monthly bills.

1. Keep Your Austin Home Healthy

   1. With the AC cranking on these hot summer days, it’s a good time to change the filters and dust the vents. This will help your system run more efficiently and cut down on the amount of dust in the air. You should also save a little money on the electricity bill with this simple act.
   2. Along with the AC vents, don’t forget to check the clothes dryer vent. Sure, we empty the lint and debris out of the filter on a regular basis, but have you ever really cleaned it? You should vacuum out the filter area and check the back of the dryer for any collected dust to help your dryer work more efficiently.
   3. Since you’re already cleaning behind large appliances, take a look behind the refrigerator. What you see back there may be a little unappetizing! Clean the dust off the coils on the back of the fridge to help it run more efficiently, too.

2. Take Care of the Exterior of your Austin Home

   1. Rain would be a welcomed sight in Austin this summer. When we get the next big rain, make sure your gutters and downspouts are not blocked to prevent needless water damage to your roof and siding. This chore should be done early in the day before it gets too hot.
   2. Speaking of siding, you should look for any damaged woodwork on the outside of your home. You can touch up peeling areas before they deteriorate further. Also, inspect bricks and masonry for any cracks. As you give careful inspection to the exterior of your home, don’t forget the windows, doors, and other entry points, such as dryer vents and cable wire holes. Check to see if any caulk needs to be replaced to keep drafts and critters (the crawly or furry kind) out of your home.

3. Give Your Austin Yard Some TLC, Too

   • Finally, give your lawn a little attention by checking your sprinkler heads to see if any need to be replaced or repositioned. Watering the sidewalk does nothing for your grass and needlessly increases your water bill!

Good home ownership starts with a good home loan. Leader1 Mortgage of Austin is proud to help you with Austin Home Loans. Contact one of our experienced Austin Mortgage Brokers today to discuss your Austin Home Loan needs: 512-356-9436.

Austin Home Image: Digitalart / FreeDigitalPhotos.net

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Austin made another top ten list: Yahoo’s 10 Best Cities for Families.  From the climate to the job market, Austin made the number two spot for load-up-the-kids and move here.  Some of the criteria cited by Yahoo was a little dubious, listing music festivals as one of the family perks.  Plenty of hip Austin families bring their children to Austin City Limits Music Festival, but it’s probably not on parents’ top-ten-things to love about living in Austin.

Arts and Culture For Austin Families

Along with ACL and South by Southwest festivals, Austin families love the abundance of museums, theaters and cultural celebrations.  This is a city that embraces the weird and strives for the quirky.  It’s also a university town that brings big thinkers and big performers to Austin on a regular basis.

Austin Families Appreciate the Schools

I talked about this before, but there are highly rated schools throughout the city and surrounding areas.  The University of Texas is revered for its sports and its education opportunities.  With miles of parks, including the Nature and Science Center and the Learning Center at Zilker, there is plenty of good, wholesome fun for Austin families.

Austin Families Love the Economy

Austin is about innovation.  The job market is thriving thanks to both stalwart employers, like the government and universities, and tech companies, like Dell and AMD.  Plus, Google, Facebook and gaming start-ups have set up Austin offices in recent years.

Austin Home Loans for Families

Leader1 Mortgage of Austin is proud to help present and future Austin families with Austin Home Loans. Contact one of our experienced Austin Mortgage Brokers today to discuss your Austin Home Loan needs:  512-356-9436 .

Austin Families Image: Photostock / FreeDigitalPhotos.net

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