<![CDATA[Mortgage of Texas & Financial LLC - Mortgage of Texas Blog]]>Wed, 14 Mar 2018 13:37:04 -0700Weebly<![CDATA[Rates are increasing... here's why and what you should do about it.]]>Fri, 09 Feb 2018 18:36:06 GMThttp://txloanguy.com/mortgage-of-texas-blog/rates-are-increasing-heres-why-and-what-you-should-do-about-itQ:   Why have interest rates gone up so much in the past two (2) weeks?

A:   See Below;

The benchmark 10-year U.S. note yield rose to 2.88 percent before slipping to 2.82 percent Thursday, holding around multi-year highs.  The initial move higher follows the release of strong jobless claims data.

Weekly jobless claims hit a 45-year low, totaling 221,000.  They fell from 230,000 in the previous week. A rise in yields Wednesday led to the Dow's posting its biggest one-day reversal since August 2015.

Here's the real world answer, without all the gobbledygook:

People are scared.  The stock market is soaring unabated yet "Main Street" still feels the same.  The interest rates (right or wrong) were artificially suppressed during the Obama administration.  This isn't a political forum... that is a fact.  Only one time in his 8 years did the FEB raise short term interest rates by a measly 1/4 percent and the world markets acted like a ant trying to poop out a watermelon.

In November 2016, the day after Donald Trump was elected President, interest rates went up 1/2 a point.  NOT the short-term interest rates between the banks but the "REAL" interest rates that affect you and me.  Since then, the FED and its Chair Janel Yellen socked the world markets with no less than three (3), 1/4 point short-term increases with a fourth (4th) increase on the way!  What has happened in the past 2 weeks to interest rates was merely a byproduct of three (3) FED rate increases in fifteen (15) months.  The dam had burst and something had to give.

Is Trump to blame?  Maybe he is and maybe he isn't.  It is too soon to judge this.  He is a businessman and we all knew that the 3.25% for a 30 year fixed rate loan could not be sustained.  I mean what bank wants to keep lending free money?  NONE. 

My advice:  Get off your rear ends and start buying the home you have your eye on because 4.5% might look like a gift when rates are 6.5% or higher and they ain't going to go back down...

<![CDATA[Newsletter #018: Reverse Mortgages]]>Wed, 26 Aug 2015 15:28:13 GMThttp://txloanguy.com/mortgage-of-texas-blog/newsletter-018-reverse-mortgages We now offer Reverse Mortgages! So you're thinking about a Reverse Mortgage? You've come to the right place. A reverse mortgage is a type of loan available to homeowners, 62 years or older, that allows them to convert part of the equity in their home into cash. There are a number of differences between a forward mortgage and a reverse mortgage. As well as fewer qualifications that need to be met.

Unlike a forward mortgage, you do not need verified income or employment, so no pay stubs or tax returns are required. You will also eliminate your mortgage payment and instead begin to RECEIVE a monthly payment.

Here is what you need to know about qualifying:

- You and your spouse must be 62 years of age or older.

- You must have a decent amount of equity in your home.

- You cannot have any federal tax liens of any kind.

Your overall qualifying status is based on your age and the equity you have in your home.

How easy is that? Very easy. Mortgage of Texas and Financial LLC has a Reverse Mortgage Specialist of whom you may contact directly to get the ball rolling. The first step to qualifying for a reverse mortgage is to complete our Pre-Approval worksheet HERE and send it in to us. Of course, if you have a questions at all, you can call our office or call our specialist, Robert "Bob" Stakes directly at 210.556.5367.

To learn more about qualifying for a reverse mortgage, or the benefits of a RM, visit our website!


Yours Truly,
Charles Guy Stidham III

President/Owner NMLS #338293
C (210) 478-9846  |  stidham@txloanguy.com

Latest News
The mortgage of Texas family has grown! We now have two new members to welcome. Louisa is our Business Operations Manager, and Bob is  an RMLO who specializes in Reverse Mortgages and Realty.


We never charge our customers
Origination fees or Points.

Have You Heard?

We now offer an exclusive loan program to Community Heroes. You may be eligible if you are a Fire Fighter, Police, EMS/EMT or Military!

<![CDATA[Spring Into Action!!]]>Wed, 25 Mar 2015 15:16:41 GMThttp://txloanguy.com/mortgage-of-texas-blog/spring-into-action
In winter, I plot and plan. In spring, I move.  
                                            - H. Rollins

The change in season brings upon us many things; Spring Break from school, Spring cleaning, flowers and green grass all around.

Wouldn't another great change be getting into your dream home? What about refinancing your current home to a lower rate and getting your mortgage payment lowered?

Mortgage of Texas and Financial LLC can help you start this spring season off right. Rates continue to be historically low and having a local company like us by you side can only lead to great things.

What are you waiting for?
<![CDATA[Remembering Pearl Harbor]]>Fri, 05 Dec 2014 16:17:35 GMThttp://txloanguy.com/mortgage-of-texas-blog/remembering-pearl-harborFolks, please let me once again remind you of the importance of Pearl Harbor Day and how it should be recognized as one of the most life altering days not only the American History, but the history of the World as we know it.  For on that day the American public stood up as one nation and rallied for the supreme cause:  FREEDOM.

Millions of young men and women perished all over the globe to ensure that our way of life in America, the life of FREEDOM was guaranteed to survive.  From North Africa, to Europe, to China, to Japan our boys fought bravely to bring Victory and liberation throughout the world.
From that great struggle was born a nation that has produced more wealth, education and prosperity ever known to mankind.  I thank God every day for those men who fought and returned in post WWII and came home and were the foundation of so much future abundance.  And I especially thank God for those brave young men who gave their lives and never made it back home.  You and I folks are the recipients of all the abundance and freedoms those men died for.

So during this special day please stop for one brief moment and take a look around you at all of the excesses and opportunities.  And remember that much of it began when a nation stood up for the world on December 7, 1941………….  PEARL HARBOR DAY.  Many have forgotten but as long as I am alive, we will not forget.

We at Mortgage of Texas and Financial LLC salute all active duty military around the world, all retired military, and all military guard and reserve.  God bless you and may God Bless the United States of America!]]>
<![CDATA[The Risk of Waiting]]>Wed, 01 Oct 2014 15:24:30 GMThttp://txloanguy.com/mortgage-of-texas-blog/the-risk-of-waitingMany Americans feel as though “timing” is critical when purchasing a home. It's a buyer's market in most areas of the country, but many would-be purchasers -- especially first time home buyers -- remain on the sidelines, waiting for home prices and rates to fall still further.
     The risk in waiting is that buyers could end up paying more than they need to, whether that is on the price of the home or the monthly payment because of the interest rates.
     What potential home-buyers should focus more on when calculating the “timing” are local factors; not national or even international. Many homes in all markets are still sold based on "life changes," such as births, divorces, deaths, downsizing and relocation, etc. which means that people will continue to buy and sell homes on some level no matter what the economy is doing.
     The status of the mortgage industry as a whole at this very moment consists of impressively low mortgage rates. Locking in a loan now with the current rates still leaves home buyers with the advantage. Though the market is constantly fluctuating, now really is the time to start the home-buying process before it’s too late.

In 1985, the annual average mortgage
interest rate on a 30 year fixed was 12.43%!!
In 1995, it was 7.93% and
in 2005 it was 5.87%.

Today’s mortgage interest rate on a 30 year fixed is a mere 4.12%.
Some of the lowest rates of all time occurred in the latter months of 2012 at 3.35% and have since bounced up and down between 4.46% and today’s rate.  It’s too late to grab those historic 2012 rates, but it is not too late for the current rates.]]>
<![CDATA[Never Forget.]]>Thu, 11 Sep 2014 16:10:36 GMThttp://txloanguy.com/mortgage-of-texas-blog/never-forget
Greetings my fellow Americans,
Today, September 11, we remember the tragic and cowardly events of 9/11/2001.  Thirteen years later we still suffer the consequences perpetrated upon us from those terrorist.  And yet, while our freedoms have been mildly constricted, let us not forget the freedoms that still remain: 

  1. The freedom to get up every day and pursue whatever we want to do.
  2. The freedom to use our mind and to speak those thoughts freely.
  3. The freedom to pray to God and thank him for all of our blessings without repercussions.
  4. The freedom to move about openly.
  5. The freedom to purchase a home and enjoy its privacy while raising a family.
There is a new terror threat called ISIS that is causing the world trouble.  We shall defeat them because at the end of the day we are AMERICANS.  Americans who live in THE LAND OF THE FREE AND THE HOME OF THE BRAVE.  I ask that you quietly remember those who perished on 9/11/2001.  They didn’t ask for that but we can honor them by moving forward in the name of life and liberty!

-Charles Guy Stidham III
<![CDATA[Fluctuations in the Market]]>Fri, 01 Aug 2014 18:24:00 GMThttp://txloanguy.com/mortgage-of-texas-blog/fluctuations-in-the-marketThe San Antonio and contiguous counties Real Estate Market continues to be extremely strong. However, there is a bit of cooling off from it's white hot status of February to June 2014. WHY?

● For starters there is the most basic notion of real estate in the summer: Families are taking a break, spending time together and are not as focused on the house-hunting front.

● Secondly, the rates have spiked just a little bit from last year to now and that may have planted a mental seed of doubt in the minds of a small percentage of the home buying public.

● Third and most important, a tight market means current homeowners are having a tough time finding a house as nice as their current one when looking for that upgrade purchase.

This is a real phenomenon not only in San Antonio but through the South, Southwest and West Coast. There has been very little in the way of new product being brought to the market by builders and developers. Consequently, you have a constriction of available product for sale. For example, take someone who has lived in their home for 8 years and is ready to purchase a bigger home. if they paid $195,000 for the current home 8 years ago, the new home that they feel is a "Step Up" might be in the $450,000 range nowadays and that would stretch their budget way beyond their means.

However, from a savings/cash/college tuition perspective, this is fantastic news for those who purchased their homes prior to 2009. The market has rebounded and if you home is in good shape, the increased value might be incentive to sell their current home and still have enough left over for an emergency fund even after putting 20% down on a new purchase.]]>
<![CDATA[Spring brings new energy to the Market]]>Wed, 09 Apr 2014 15:28:43 GMThttp://txloanguy.com/mortgage-of-texas-blog/spring-brings-new-energy-to-the-marketThe Spring buying season is in full swing even though temperatures are cooler than usual for this time of year.  Our 1st-Quarter results show homebuyers are out there trying to find their next home and that the market is gaining strength.   Currently, interest rates are remaining level and steady but Old Man Inflation appears to be waking up from a long winters nap.  Don’t let rates creep up and leave you in an upward market.

Today's Rate Snapshot

The stock indexes were following Friday’s sell-off early this morning with the three key indexes weaker. No change in the bond and mortgage in early activity. The stock market is in trouble and we expect the key indexes will continue to decline in the next couple of weeks. The indexes have been looking vulnerable for two weeks and now the outlook is increasingly bearish. The March employment report released last Friday was a good one, 192k new jobs and Jan and February revised to add another 37K jobs from what was originally reported. While not a barn burner report, nevertheless it did confirm jobs are improving. The report was in reality not encouraging however; just because there was an increase in job creations on the headline, the quality of new jobs remains poor with most in low wage areas and the labor participation rate at 62.3% implying many have simply quit. . . . . . .
(Read the rest of this article here)

<![CDATA[Obamacare Debate regarding job loss]]>Wed, 05 Feb 2014 18:59:23 GMThttp://txloanguy.com/mortgage-of-texas-blog/obamacare-debate-regarding-job-lossHello my fellow Americans,
Well, in 2008, 51% of folks in the U.S.A. wanted a change. I just hope that none of the 51% are going to be a part of the 2.5 Million, full-time jobs that are going to disappear over the next 5 to 10 years.

Report fuels Obamacare debate with estimates of job loss

The non-partisan Congressional Budget Office gave new fuel to the debate over the Affordable Care Act Tuesday with its estimate that the law will lead to the eventual loss of about 2.5 million full-time jobs. Chairman of the Council of Economic Advisers Jason Furman reacts to a Congressional Budget Office report on the estimated impact of the Affordable Care Act on the U.S. labor market.

In its annual budget and economic forecast the agency also said that the ACA or Obamacare will reduce the total number of hours worked by about 1.5 percent to 2 percent from 2017 to 2024. Even though total employment will increase over the coming decade, the CBO said, “that increase will be smaller than it would have been in the absence of the ACA.”

CBO director Douglas Elmendorf told reporters that the analysis done by his agency’s experts “led us to conclude that the effect of the Affordable Care Act on labor supply would be a good deal larger than we had thought originally.”  In 2011, the CBO estimated the loss of full-time equivalent jobs due to the law would be about 800,000. Elmendorf also told reporters that the employer mandate – the requirement that firms offer health insurance to workers– “will reduce the demand for labor in the short term because employers face this extra cost. It is analogous in some ways to raising the minimum wage.” 

The CBO report said that “workers will choose to supply less labor—given the new taxes and other incentives they will face and the financial benefits some will receive.” 

Both sides of the Obamacare debate used the new findings to buttress their arguments, with House Speaker John Boehner saying that Republicans had argued for years that “the president's health care law creates uncertainty for small businesses, hurts take-home pay, and makes it harder to invest in new workers. The middle class is getting squeezed in this economy, and this CBO report confirms that Obamacare is making it worse.”

But Obama spokesman Jay Carney said the CBO analysis was incomplete. The budget office, he said, did not take into account the beneficial effect of slower health care cost growth due to the ACA, “Experts have estimated that slower growth in health costs due to the ACA will cause the economy to add an additional 250,000 to 400,000 jobs per year by the end of the decade,” he said. “Moreover, CBO does not take into account positive impacts on worker productivity due to the ACA's role in improving workers' health, including reduced absenteeism.”

                                                                                                       By Tom Curry, NBC News (Find the full article here.)
<![CDATA[FHA changes are upon us, learn how they effect you!]]>Wed, 30 Oct 2013 18:37:13 GMThttp://txloanguy.com/mortgage-of-texas-blog/fha-changes-are-upon-us-learn-how-they-effect-you Effective for FHA case numbers assigned on 10/15/2013 or later

Collection & Judgment Accounts
All borrowers and NPS are included when looking at judgment and the new collection balance.
     1.    Medical collections, profit and loss, and charge-off accounts are disregarded in calculating your total   
             aggregate balance.
     2.    Collections greater than or equal to $2,000 aggregate balance, including NPS in community property
               -       At the time of closing, payment in full of collection accounts (acceptable source of funds              
               -       If payment arrangements are made with creditors, the credit report or letter from the creditor
                       verifying payment must be provided and included in the DTI.
               -       If payment is not provided, the lender must use a 5% monthly payment of outstanding balance in 
                       the DTI.
     3.    Judgments:
               -       All judgments for borrowers and NPS in community property state must be paid in full, or
               -       Payment arrangements may be made. You must have a copy of the payment arrangement and 
                       proof of payment for 3 months. You cannot prepay your 3 months. Along with all of the above
                       guidelines, if your loan receives a Refer or Subject to Manual Downgrade, the borrower must
                       provide a letter of explanation with supporting documentation for each outstanding collection
                       account and judgment. The documentation must be consistent with other credit information in the

Borrower only – you don’t have to use NPS
     1.    Derogatory Disputed Accounts, including
                -       Disputed Charge-off
                -       Disputed Collections
                -       Disputed Accounts with late pays in past 24 months
                            ● If cumulative outstanding balance of disputed derogatory accounts is greater than $1,000,
                                you must downgrade to manual underwrite
                            ● If cumulative outstanding balance of disputed derogatory accounts is less than or equal to
                                $1,000, you do not have to downgrade to manual underwrite
                            ● Medical collections are excluded
                            ● Identity theft is excluded, but must provide police report
                            ● All disputed accounts must have a letter of explanation by the borrower on the bases of the
                            ● NPS derogatory disputes are excluded
     2.    Non-Derogatory Disputed Accounts including
                 -       Disputed Accounts with zero balance
                 -       Disputed Accounts with late pays aged 24 months or later
                 -       Disputed Accounts that are paid as agreed
                            ● You do not have to downgrade to manual underwrite, but
                            ● Lender must analyze the effect of the disputed accounts in the borrower’s ability to repay the

                                                                                   (This information has been provided by www.pnlending.com)]]>