FM Realtyg Group

07/05/2024

Been a busy summer already.
Wanted to check on you and see how summer is going for you and how we can finish the second half of year and summer stronger?
Also THANKFUL LIKE CRAZY FOR OUR COUNTRY AND OUR FREEDOMS! Say a prayer for our country and our freedoms this week with your families. I am working this week if you need a real estate broker or referral to a mortgage program to get you in your home with little or no down payment!!! Give me a call!!

06/17/2024

06/17/2024

👩‍🏫 Attention Texas Teachers 👨‍🏫

We're excited to announce the New 2024 Home program that makes it easier for Teachers living in Texas to buy or refinance a home.

Click here to find out more@ 832 705 0081 (Flo)

06/01/2024

https://www.yahoo.com/finance/news/zero-down-mortgages-making-comeback-111223950.html

Many Americans would love to buy a home, but they don’t have tens of thousands of dollars to cover a down payment.

01/29/2024



Hi friend!
I love nothing more than sharing new information with you, and I am so excited to announce a new program to you. This one is different from all the others I have mentioned because this one does not have a "maximum income limit".
Original blog post on my website. | LINK
No Down Payment + No Private Mortgage Insurance

660 Minimum FICO Credit Score

Max DTI 43%

No Maximum Income Limits

Up to 6% Seller Concessions Allowed

So what does this mean for you!?

Maybe you are wondering what this mean for you, and how it can allow you to become a homeowner without spending a couple years saving up for a downpayment?
Well what this means if you meet these two requirements:

Your credit score is 660 or higher and..

Your debt-to-income ratio is 43% or less (you spend less than 43% of your gross income on revolving credit: future mortgage payment, credit cards, student loans, lines of credit, car loans, etc.)

Plus you must have good and stable job history, then you qualify for this above loan program.
This loan program allows you purchase a home with a 0% down payment, and it goes even farther than that. With an amazing realtor by your side, one who can help you negotiate up to 6% in seller concessions, you can typically buy a house with just earnest money, inspection, and option period money, out of pocket.

Let me paint this picture for you..

If you were to purchase a $250,000 home (example/possible scenario):

You would put down $2500 as one percent earnest money to open escrow.

You would pay $200 for a 10-day option period which secures you 10 days to do inspections.

If the tax rate is 2.9% and your interest rate is 5.25%..

And you ask for 3.5% closing cost assistance, which is a $8750 closing cost credit from seller.

You select a 30-year-fixed-rate loan.

Your cost of home owner's insurance is 1%..

Your monthly payment breakdown would be about:

$1,380 Principal & Interest

$604.17 Taxes Before Homestead (This number should almost always be lower.)

$208.33 Home Owners Insurance

$2200 Monthly Payment if Rounding Up

Your closing cost breakdown would be about:

0% Down

$8750 Seller Credit

$4,664.38 Prepaids

$7,039.86 Closing Costs

$2375 Check to you at close!

So your up front out of pocket costs would be about:

$2500 Earnest Money

$200 Option Check

$550 Inspection

What you would(not) have to bring with you to close:

You would walk away from closing with a check for $2375

If you would like to see if you qualify for this loan or if you have any questions about this loan program, please reach out to me. I love nothing more than assisting home buyers in making home ownership a reality

05/03/2023

Join this webinar to learn about how the City of Houston’s Housing and Community Development (HCD) has created 3000 new affordable single-family homes opportunities for families making up to $100,000.

03/05/2023

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Real Estate Investment for Beginners



Re
al estate investtment popular choice for many individuals looking to build wealth and secure their financial future. It involves purchasing property with the intention of generating income through rental or resale. However, for beginners, real estate investment can be a daunting task. In this essay, we will discuss the basics of real estate investment and some tips for beginners to get started.
The first step in real estate investment is to understand the different types of properties that are available for investment. Residential properties, such as single-family homes, duplexes, and multi-unit buildings, are the most common type of investment property. Commercial properties, such as office buildings, retail spaces, and industrial buildings, are also popular investment choices. Understanding the differences between these types of properties is essential for making informed investment decisions.
Once you have a basic understanding of the different types of investment properties, the next step is to determine your investment strategy. There are several investment strategies that you can use to generate income from your investment properties. For example, you can buy and hold a property, rent it out, and generate rental income. You can also flip properties, which involves buying a property, renovating it, and reselling it for a profit. Finally, you can invest in real estate investment trusts (REITs), which are companies that own and operate income-producing properties.
When investing in real estate, it is important to conduct due diligence to ensure that you are making a sound investment. This includes researching the local market, analyzing the potential for rental income or resale value, and performing a thorough inspection of the property. It is also important to work with experienced professionals, such as real estate agents, attorneys, and home inspectors, to help guide you through the investment process.
One important aspect of real estate investment for beginners is financing. There are several options for financing an investment property, including traditional bank loans, private lenders, and hard money loans. It is important to carefully consider the financing options available to you and choose the option that best fits your financial situation and investment goals.
Finally, it is important to remember that real estate investment is a long-term strategy. It takes time to build wealth through real estate investment, and it requires patience and perseverance. However, with the right approach, real estate investment can be a lucrative way to generate income and build wealth over time.
In conclusion, real estate investment is a popular choice for individuals looking to build wealth and secure their financial future. Understanding the different types of investment properties, determining your investment strategy, conducting due diligence, and carefully considering financing options are all important aspects of real estate investment for beginners. With the right approach and a long-term perspective, real estate investment can be a profitable and rewarding investment choice.
By: Florence Thomas
FM Realtyg Group

05/05/2021

https://www.yahoo.com/finance/news/homebuyers-tons-cash-under-plans-000300369.html

Democrats want to offer tens of thousands of dollars to first-time buyers.

01/11/2021

1. A mortgage or investment property loan.
There’s a number of mortgage loans you might consider to fund your next real estate project. Depending on what type of property you’re buying, you could use an FHA or conventional loan, or if you’re rehabbing the home, a 203k loan could work, too.

Many lenders also offer investment-specific loan programs. These often come with higher cash reserve, down payment, and credit score requirements, though.

2. A private money lender.
You don’t have to go through a bank or established lender to finance your project. Getting a loan from a friend, family member, colleague, or a cash-flush acquaintance or business professional is also an option. In most cases, you’ll need to pay interest or promise the private lender some sort of return on their investment.

The upside? There’s no red tape or difficult qualifying process, and you can probably get your cash pretty fast. Just make sure it’s not your long-term solution. A private lender usually wants their cash back within a few years.

3. A hard money lender.
Hard money lenders are another private financing option, and they also come with less stringent qualifying standards than typical mortgage loans and financing products. The catch, though? They also come with much higher interest rates.

Because of this, a hard money loan is best suited to fast jobs like fix-and-flips or as bridge financing between buying a property and securing a longer-term loan.

4. Crowdfunding.
You’ve probably donated to a GoFundMe or KickStarter campaign before. Well, real estate crowdfunding is a similar tactic. You pitch your project on a crowdfunding platform, and interested investors can contribute to your efforts as they see fit. In exchange, they own a portion of the project (and its profits).

Some common crowdfunding platforms include Fund that Flip and Groundfloor.

5. P2P lending.
P2P lending (peer-to-peer) is another similar method, except it functions more like a loan than crowdfunded deals do. You post your project on a P2P lending platform, and you get matched with an investor. That investor then lends you the funds you need, and you’ll pay it back — plus interest, over time. PeerStreet is a popular P2P lending platform.

Terms vary wildly on P2P loans, so make sure you read the fine print before going this route. You should also look into the platform’s data security, as well as reviews from other investors. As with traditional mortgage lenders and banks, not all fundraising tools are created equal.

6. Home equity products.
This one’s only an option if you already own a property or two. If that’s the case, you can tap the equity of your existing property via a home equity loan or home equity line of credit (HELOC) and use the cash to fund your next real estate investment or the costs to rehab it.

A cash-out refinance works similarly. You’d just refinance the mortgage on an existing property, take out a higher-balance loan, and put the difference toward your new project.

7. Partnering up.
Have part of the capital you need but not the full amount? Consider finding a partner. You each put up part of the funds and invest in the project together. It solves the capital issue, plus it gives you someone to share the work with.

Just make sure you’re extra careful in vetting the person. They need to be committed to the project (and have the bandwidth to take it on), and ideally, their expertise and knowledge should complement yours. You also might want to bring in an attorney to help structure your deal. This will ensure you’re both clear on how future profits (or losses) will be handled.

The bottom line
Few investors have all the cash they need right off the bat. Fortunately, raising capital for real estate investments is easier than it seems. Need more help getting your next real estate deal or investment opportunity off the ground? This financing guide can help.

Unfair Advantages: How Real Estate Became a Billionaire Factory
You probably know that real estate has long been the playground for the rich and well connected, and that according to recently published data it’s also been the best performing investment in modern history. And with a set of unfair advantages that are completely unheard of with other investments, it’s no surprise why.

But in 2020 the barriers have come crashing down - and now it’s possible to build REAL wealth through real estate at a fraction of what it used to cost, meaning the unfair advantages are now available to individuals like you.