Forbearance Resource Center

What Is Mortgage Forbearance? Forbearance is when your mortgage servicer or lender allows you to pause or reduce your mortgage payments for a limited period of time. Forbearance doesn’t erase what you owe – you’ll have to repay any missed or reduced payments in the future. If your income is restored, we strongly suggest reaching […]Read More

First-Time Texas Homebuyers Should Consider FHA

Federal Housing Administration (FHA) loans are an excellent option for first-time homebuyers looking to buy in the competitive Texas market. FHA loans have low down-payment financing options with flexible underwriting guidelines that are great for Texas homebuyers with liquidity or credit issues. FHA loans are growing increasingly popular among the first-time homebuyer demographic. The Urban […]Read More

Explaining Mortgage Rates for Borrowers in Texas

Mortgage rates are a hot topic for borrowers in Texas. Everyone wants to get the best mortgage rate possible when they’re getting ready to take out a loan for their home purchase. Here are a few helpful reminders to keep in mind about mortgage rates in Texas: 1. Mortgage rates will vary depending on the […]Read More

Buyers in Texas Don’t Need a ‘Perfect’ Credit Score

Buyers in Texas don’t need a perfect credit score to qualify for a loan. Having a high credit score can help buyers secure a loan with a lower interest rate. However, today’s loans have more forgiving guidelines when it comes to a buyer’s credit score, which is especially true with government-funded loans. Where Do Credit […]Read More

Mortgage Acronyms Every Texas Borrower Should Know

The Texas mortgage industry is infamous for throwing a lot of mortgage acronyms around. Many first-time homebuyers may be confused by the various mortgage acronyms used in the homebuying process. To get you started, we’ve compiled seven of the most common mortgage acronyms that a borrower in Texas may encounter when buying or refinancing a […]Read More

The New Millennial Housing Market in Texas

Millennial buyers (those born 1981-1997) have quickly entered the housing market and they are rapidly becoming the largest and fastest-growing demographic. A 2020 Realtor.com forecast gave the estimation that 51% of the housing market will be comprised of millennials, outnumbering both Generation X and Baby Boomers combined. This will be especially prevalent in Texas markets […]Read More

Local Texas Mortgage Lenders Are Better!

JVM Lending takes care of local buyers in Texas’s hot real estate market The Wall Street Journal has previously featured an article stressing that buyers in a competitive market, like those in Texas, need a local mortgage lender with a stellar reputation, the ability to close quickly, great communication skills, and local appraisers. JVM Lending is […]Read More

5 Tips For Buying a Dallas Foreclosure

1. Understand that the purchase process for a foreclosure in Dallas is different. In traditional Texas real estate transactions, Dallas homebuyers work directly with the property sellers and their agents. Homebuyers will typically present an offer directly to the seller and their agents to purchase the property. When homebuyers are planning to purchase a foreclosure […]Read More

5 Tips For Buying an Austin Foreclosure

1. Understand that the purchase process for a foreclosure in Austin is different. In traditional Texas real estate transactions, Austin homebuyers work directly with the property sellers and their agents. Homebuyers will typically present an offer directly to the seller and their agents to purchase the property. When homebuyers are planning to purchase a foreclosure […]Read More

Understanding Your Debt-To-Income (DTI) Ratio in Dallas

Dallas borrowers often have questions about how much income they need to purchase a house or condo. Lenders use a debt-to-income (DTI) ratio to determine how much income a borrower needs to fund their purchase or qualify for financing. Most lenders in Dallas, Texas, recommend that borrowers stay within a 45% – 50% DTI limit. […]Read More

Understanding Your Debt-To-Income (DTI) Ratio in Austin

Austin borrowers often have questions about how much income they need to purchase a house or condo. Lenders use a debt-to-income (DTI) ratio to determine how much income a borrower needs to fund their purchase or qualify for financing. Most lenders in Austin, Texas, recommend that borrowers stay within a 45% – 50% DTI limit. […]Read More

Jumbo Loans in Dallas, Texas

Jumbo loans are becoming increasingly popular (and necessary) for Dallas homebuyers. This is mostly due in part to the rising costs of homes in Texas. What is a Jumbo Loan? A jumbo loan is a loan that exceeds a particular county’s loan limits. For most areas in Texas, the conventional loan limits range from $100,000 […]Read More

Jumbo Loans in Austin, Texas

Jumbo loans are becoming increasingly popular (and necessary) for Austin homebuyers. This is mostly due in part to the rising costs of homes in Texas. What is a Jumbo Loan? A jumbo loan is a loan that exceeds a particular county’s loan limits. For most areas in Texas, the conventional loan limits range from $100,000 […]Read More

Will Student Loans Impact a Pre-Approval in Dallas?

The national student loan debt has now surpassed $1.6 trillion and comprises 42% of all consumer debt. Millennials have most of the student debt, which has increased by 130% since 2008. Graduates in Dallas, Texas on average finish school with $24,000 in student loan debt. Buyers Are Afraid Of Their Debt With all these outstanding […]Read More

Will Student Loans Impact a Pre-Approval in Austin?

The national student loan debt has now surpassed $1.6 trillion and comprises 42% of all consumer debt. Millennials have most of the student debt, which has increased by 130% since 2008. Graduates in Austin, Texas on average finish school with $25,000 in student loan debt. Buyers Are Afraid Of Their Debt With all these outstanding […]Read More

Study Shows First-Time Dallas Homebuyers Look for Financing First

A housing report by the Washington Post shows that first-time homebuyers get pre-approved before house hunting. In the Washington Post’s housing report, they found that 74% of homebuyers start their house hunt in areas like Dallas, Texas, by researching financing options and getting pre-approved with a local Dallas lender. For first-time homebuyers, that percentage increases […]Read More

Study Shows First-Time Austin Homebuyers Look for Financing First

A housing report by the Washington Post shows that first-time homebuyers get pre-approved before house hunting. In the Washington Post’s housing report, they found that 74% of homebuyers start their house hunt in areas like Austin, Texas, by researching financing options and getting pre-approved with a local Austin lender. For first-time homebuyers, that percentage increases […]Read More

Four Steps to Prepare for Closing Day in Dallas, Texas

Closing day is the last step for Dallas homebuyers in their loan process. All their paperwork gets finalized and the deed of the Dallas property is officially transferred to the new owner. Here are four steps to help Texas homebuyers have an easy closing day! 1. Start saving! One of the best ways Dallas homebuyers […]Read More

Four Steps to Prepare for Closing Day in Austin, Texas

Closing day is the last step for Austin homebuyers in their loan process. All their paperwork gets finalized and the deed of the Austin property is officially transferred to the new owner. Here are four steps to help Texas homebuyers have an easy closing day! 1. Start saving! One of the best ways Austin homebuyers […]Read More

Six Factors That Can Impact Your Mortgage Rate in Texas

Every Texas borrower wants to get the lowest mortgage rate when applying for a loan. JVM is proud to offer our Texas buyers some of the lowest mortgage rates in the industry. But many Texas buyers are unaware of the different factors that can affect mortgage interest rates. The market moves. The Texas market is […]Read More

Top 5 Tips for Buying a Condo in Texas

Condos are an excellent option for buyers looking to upgrade to a larger single-family residence without all the upkeep of a detached home. These are our top five tips for Texas buyers interested in buying a condo in Texas: 1. Get pre-approved for a mortgage. Unless Texas buyers are planning to buy condo with all […]Read More

“Biggest Housing Boom In History Has Just Begun”

The above subject line is the title of this Forbes.com article. The author focuses on the supply of houses, shifting demographics and massive pent up demand. From the 1950s through the early 2000s, an average of 1.5 million new homes were constructed every year in the U.S. But, over the last ten years, we have […]Read More

The Loan-to-Value (LTV) Ratio: A Guide for Borrowers in Texas

The Loan-to-Value Ratio (LTV) is a key mortgage term for homebuyers and homeowners to know and understand. We mention LTV a lot when breaking down other mortgage topics and products. Today we’re giving a crash course in LTV and explaining the impact LTV has on purchasing and owning a home. Loan-to-Value Ratio Defined The loan-to-value […]Read More

Average Closing Costs for Homebuyers in Texas

Defining Closing Costs for Texas Homebuyers Generally, when a lender refers to “closing costs” they are referencing the fees required as a result of a property transaction. Closing costs can be broken down into two basic categories: Lender Origination Fees and Third-Party Fees. Lender Origination Fees Lender Origination fees might include the following: Processing Fee […]Read More

Appraisal Conditions and Health & Safety Issues to Watch For!

Realtors are often frustrated about “condition” and “health & safety” issues that get called out by appraisers, and they come to us for guidance. They obviously want to avoid getting conditions called out by appraisers that will either cost too much to repair, delay closings or kill deals altogether. Our Appraisal Manager, Jennifer Muzzall, provided […]Read More

Why Perfect Credit Scores Don’t Matter

200 MILLION AMERICANS NOW HAVE FICO SCORES About 200 million Americans now have FICO Scores, and about 3 million have perfect scores of 850, according to this Bloomberg article:  “How More Americans Are Getting a Perfect Credit Score.” America may be approaching “peak credit score” with average scores now above where they were at the […]Read More

Buyers Beware of Google!

One of the reasons loan officers and homebuyers were able to get away with so much fraud prior to the mortgage meltdown was the lack of public records and information in general. That is no longer the case, and homebuyers in need of financing need to be extra careful nowadays because underwriters Google everything – […]Read More

What Strategies Get Offers Accepted?

REDFIN COMPARED STRATEGIES ON THOUSANDS OF OFFERS Redfin evaluated thousands of offers in order to compare which strategies worked the best for getting offers accepted. The results are set out in the table below, and the full article can be found here. Cash is obviously king, but most buyers don’t have “all cash,” as everyone […]Read More

How Much is an “In-Law” Unit Worth? Less Than You Think

REALTOR MISSES VALUE OF HIS OWN HOME BY $500,000 Years ago we were refinancing a Realtor who insisted his remodeled 3,700 square foot home was worth at least $1.5 million. We were therefore shocked to see the appraisal come in under $1 million. We reviewed the appraisal and quickly realized why it was so low. […]Read More

Top Five Options For Low Appraisals

Whenever an appraisal comes in under contract price, we work quickly to consider all options with both agents and buyers.  We can usually resolve appraisal issues within one business day if everyone is responsive.  Below are five of the options available when an appraisal comes in under contract price. 1. Rebut the appraisal. This approach […]Read More

When Zillow Misleads Homeowners

First, I reluctantly have to admit that Zillow really does have impressive algorithms, that sometimes yield surprisingly accurate results. But, Zillow also often badly misleads homeowners, creating huge issues for lenders and agents alike. A few years ago, a friend of mine was irate when his appraisal came in $75,000 lower than Zillow’s “Zestimate®.” But […]Read More

The Real Cost of Waiting To Buy

Cost of Waiting to Buy in 2013 We remind our clients of this particular story frequently, as it illuminates why waiting is almost never going to save them more money: In 2013, we had a borrower looking to buy in Oakland, CA and she was obsessed with getting the absolute lowest possible price. As a […]Read More

5 Characteristics of Agents Who Can Survive in Any Market

Click the button below to download your own copy of the Unlocking the Secrets of Real Estate’s New Market Reality! This 17-page eGuide will discuss the subtle change that caused a revolution in this industry, the opportunities available to those who embrace it, and the five characteristics of an agent who will succeed in the New Market […]Read More

FHA & VA Myths

LOAN OFFICER QUOTES RIDICULOUS FHA RATE We hosted a large first-time homebuyer seminar last week and one of the attendees had just been pre-approved by another lender for FHA financing. The loan officer convinced her that she was only marginally qualified, that FHA loans are harder and that FHA rates are higher. He quoted her […]Read More

8 Ways To Lower Debt Ratios & Qualify for More

We repeat this topic from time to time because “Debt Ratios” weigh so heavily in our pre-approval process and because tight debt ratios so often prevent borrowers from buying the property they want. I explain what debt ratios are and how we calculate them in this past blog. 8 Ways to Lower Debt Ratios: #1 – Put less […]Read More

12 Things To Consider Before Buying A Condo

Below are twelve things buyers and agents should consider if they plan to finance the purchase of a condo. We remind our clients of these items from time to time because they are so important. Concentration Rule. No single entity/person can own over 20% of the units in the complex. Prior to 2018, the ownership […]Read More

The Best Way To Get An Offer Accepted In A Hot Market

Buyer’s Story Wins The House! We recently closed a transaction for buyers whose offer was substantially less than numerous other offers. I wish I could say it was JVM that made the difference, but alas – we were barely a factor. What made the astounding difference was the “story” the buyers told. Here’s why having offer […]Read More

The Real Cost of Waiting To Buy In Texas

Cost of Waiting to Buy in 2013 We remind our clients of this particular story frequently, as it illuminates why waiting is almost never going to save them more money: In 2013, we had a borrower looking to buy in Austin, TX and she was obsessed with getting the absolute lowest possible price. As a […]Read More

What Homebuyers Really Want In A Lender

The lender you refer your clients to is a reflection on you. I repeat that often because it is true and because we meet so many agents who are having issues with their lenders. In light of this, JD Power’s recent survey of borrowers should be of particular interest, as it illuminates what borrowers look […]Read More

12 Factors That Impact Your Mortgage Rate

We often have buyers or agents ask: “What is your 15-year rate today?” Or “What is today’s interest rate?” We always respond by explaining there is no single rate, b/c the market moves so often and b/c there are so many things that affect an individual borrower’s rate. Here are 12 factors that affect almost […]Read More

[eGuide] Things to Consider When Selling Your House – Winter Edition

Click the button below to download your own copy of the Things to Consider When Selling Your House – Winter Edition! Our goal is to provide agents with the tools they need to build their business. To be the first to know about new tools, guides, industry updates and more, subscribe to JVM’s Blog!   […]Read More

First-Time Homebuyers Hunt for Financing Before Houses

A new housing report by the Washington Post shows that first-time homebuyers get pre-approved before house hunting. First-Time Homebuyers Look for Financing First In the Washington Post’s latest housing report, they found that 74% of homebuyers start their house hunt by researching financing options and getting pre-approved. For first-time homebuyers, that percentage increases to 85%. […]Read More

Five Reasons Why This Winter Is The Best Time To Buy

Most seasoned real estate agents already well know that winter can be a great time to buy real estate. Below are our top five reasons why this winter is the best time to buy: #1 – Rates Hit Six Week Low! While rates have been climbing for most of the year, they hit a six-week […]Read More

Things to Know When Considering ARM Financing

Not all buyers go for the tried-and-true 30-year fixed-rate mortgage. For some, an Adjustable Rate Mortgage (ARM) is a better loan product for their housing needs. Here are a few things to keep in mind for buyers considering using an ARM to finance their property. Most ARMs today are actually “Hybrid” ARMs A Hybrid ARM […]Read More

California Buyers Worry Student Loans Prevent Pre-Approval

  The national student loan debt has now surpassed $1.5 trillion and comprises 42 percent of all consumer debt. Millennials in California have some most of the student loans, which has increased 130 percent since 2008. California Buyers Are Afraid Of Their Student Loans With all these outstanding balances, it’s no wonder that California buyers […]Read More

Study Shows Mortgage Insurance Lessens Difficulty In Obtaining Down Payment

In California’s increasingly competitive market, a study has found that mortgage insurance significantly helps California buyers with their down payment. 18 years of saving for a California 20% down payment. California’s increasingly competitive market has made property prices soar. With the high price tag associated with California real estate, many homebuyers are increasingly concerned about […]Read More

Jumbo Loans in California

Jumbo loans are becoming increasingly popular for California homebuyers. This is mostly due in part to the rising costs of homes in the state. The median price for a single-family home in the San Francisco Bay Area hit $1.7 million recently. As a result, increasingly more homebuyers in California are having to use jumbo loans […]Read More

How Stock Market Corrections Affect Real Estate

The stock market has been particularly volatile lately, and there are many predictions of another large “correction” that could come any day now. Here are a few considerations in regard to a stock market correction, at least as they relate to real estate and mortgages. A stock market “correction” is defined by The Motley Fool […]Read More

How Much Income Do California Borrowers Need To Purchase A House or Condo?

California borrowers often have questions about what income they need to purchase a house or condo. Lenders use a debt-to-income (DTI) ratio to determine how much income a borrower needs to fund their purchase or qualify for financing. Most lenders in California recommend that borrowers stay within a 45% – 50% DTI limit. Determining How […]Read More

How Many Times Can Veteran Borrowers Obtain A Veterans Loan?

A VA Loan (Veterans Administration Loan) is a mortgage that is guaranteed by the VA for veterans. VA loans are the best bargain in mortgage financing for qualified veterans because of their flexible underwriting and down payment guidelines. VA loans also have low interest rates, no mortgage insurance, and 0% down payments for most veterans. […]Read More