Texas Home Lending News

Flipping Houses Calculator

Flip calculator for new investors.

When you invest in real estate so you can renovate and resell a property, many factors beyond the initial price and eventual sales price determine how much you might expect to profit.

Here’s an easy calculator to help you make an informed offer on a property you may want to flip. Use it to tabulate your expected expenses, including some you may not have considered. It will help you estimate an expected return on your investment, too.

I hope you find this tool helpful, Jason. If you have questions about the calculator or financing real estate investments in general, please reach out over your preferred channel. I’ll be glad to help.

PROPERTY FLIP CALCULATOR

Shawn Smith
MLO/Broker | NMLS # 863501
(214) 396-3650 | Mobile: (817) 706-8619
shawn@sublimefinancial.com

www.sublimefinancial.com
Sublime Financial, LLC
14785 Preston Rd Dallas TX 75254

NMLS # 1134044

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Posted by Shawn Smith NMLS#863501 on March 15th, 2022 11:25 AM

THE EASIEST WAY TO LOWER YOUR MORTGAGE.

Here's how you may be able to lower your mortgage payment.

If you’re paying PMI (Private Mortgage Insurance) because you put less than 20% down on your home loan, you may be eager to get rid of the expense. The details can vary among companies, but here are three basic strategies for eliminating PMI:

Pay your principal down. Once your loan amount is 78% of the original cost or appraised value (if you’ve refinanced), contact your loan servicing department for a review. They’ll check to assure you have a good current payment history and credit.
Demonstrate Current Value. Contact your loan servicer to request an appraisal, which you will pay for. Your balance will need to fall under the required threshold (typically 75 to 80% based on the age of your loan). Again, credit and payment history are important.
Refinance. Your new mortgage will not include PMI if your loan balance is no more than 80% of the appraised value. A refinance may also allow you to lower your rate and payment, access cash, or adjust your loan term.

Posted in:FINANCIAL MARKETPosted in:REAL ESTATE MORTGAGEPosted in:REFINANCEPosted in:FINANCE and tagged: FINANCIAL MARKET REAL ESTATE MORTGAGE REFINANCE MORTGAGE

Posted by Shawn Smith NMLS#863501 on July 30th, 2021 5:42 PM

HOAs NEED TO KNOW BEFORE YOU BUY!!!!

Here's some background on HOAs to know before you buy.

Homeowners Associations (HOAs) often manage community interests, including maintenance of common areas and cohesion of community atmosphere, in a development.

Condominium buildings almost always have an HOA. Planned communities with common areas and amenities or the goal of adhering to certain standards often have HOAs, too.

Buyers will be bound by guidelines contained in a set of bylaws. An elected board of homeowners governs the HOA.

How much does an HOA cost?
HOA fees range from a low annual payment to monthly charges. Fees can cover taxes, insurance, utilities, maintenance and even staffing for common areas, amenities, and security.

The cost to homeowners is calculated by dividing total expenses among the number of individual properties. In some cases, like condos, costs will be prorated based on the size of the unit. HOA fees will be considered for qualification of your mortgage loan.

What should I know before I buy?
It’s important for buyers and legal counsel to review all HOA documents before a purchase to ensure activities planned for the property, such as renovations or rentals, are allowed.

An HOA can enhance life in your community by taking care of common interests and protecting property values. If you have questions about HOAs or home financing in general, let me know. I’ll be glad to help.

Posted in:HOME PURCHASEPosted in:REAL ESTATEPosted in:FINANCE and tagged: REAL ESTATE MORTGAGE MORTGAGE REFINANCE HOME PURCHASE MORTGAGE FINANCE

Posted by Shawn Smith NMLS#863501 on July 30th, 2021 4:02 PM

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HOAs NEED TO KNOW BEFORE YOU BUY!!!!

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