Mortgage Blog

Non-Conforming Loans

Non-Conforming Loans

Hi, it’s Mortgage Mack and Happy New Year. I hope you don’t mind the facial hair today. It is very cold in Houston, Texas. So, it’s helping me keep my face warm.

Non-Conforming Loans or Jumbo Loans – 80/10/10 – Less Money Down for Your Dream Home

You know, I have a scenario that I thought I’d share with you today. I have a young couple who have not sold their home, but they found a home they wanna buy. The home they wanna buy is in the $800,000 price range. So, that makes it what we call a jumbo mortgage loan. Now, a jumbo loan is— Maybe that’s the wrong term. Maybe a better term would be a non-conforming loan.  And what a non-conforming loan means or jumbo loan means is that— First of all, the first parameter is that the amount financed is higher than the limits established by FannieMae and Freddie Mac. And I’ll include links for both of those here in the show notes, but also— But you know, you could buy an 800,000-dollar house and it’d still be conforming or non-jumbo loan if you didn’t finance any more than 453,100.

But, in the instants of my clients, we wanna finance more than that because we have a home that we haven’t sold yet and we wanna put this through as 10% down. Now, I’ll go into that here in just a second, but I wanna make sure that I’m clear about what a jumbo mortgage loan is, is that it’s a loan wherein we finance any more than the conventional loan limit established by Fannie or Freddie, which is $453,100 for the current year of 2018 for the Houston, Texas Metropolitan Area. And once the loan amount exceeds Non-Conforming Loansthat,




then we fall into what is called the jumbo or nonconforming category at which the underwriting requirements are far more rigorous than traditional FannieMae or FreddieMac

You Can Borrower Your Down Payment with a Second Mortgage Loan

So, let’s talk briefly about our scenario and solution that I’m gonna help my clients with today. So, what I have is I have a jumbo loan that allows for as little as 10% down. Now, most jumbo loans require much more than 10% down. The traditional requires at least 20, maybe 25, but I have a special product here for them. And it’s what we call an 80/10/10. So, they can put as little as 10% down. I’m going to borrow another 10$ as what we call a second mortgage for them on their behalf. Now, I can arrange this type of financing for a client to $900,000 as the maximum amount borrowed. It does require 6 months reserves and what that means is that it will $100,000 to close and your payment was 5,000, then you have to have at least $30,000 left in the bank after closing.

Low Down Payment FannieMae HomeReady

Why become a WCR Member in 2018

Why become a WCR Member in 2018

Mack:  Hi. Mortgage Mack here and I’m here with Jo Ann Stevens, the National President of WCR and a very longtime friend of mine.

Mack:  What other items do you feel like are gonna be important to you as President moving forward in 2018? Can you maybe identify those priorities and kind of share ‘em with us?Why Become a WCR Member in 2018

JoAnn:  Yeah. First thing, 2018, there’s just so much going on this particular year. We, within the Women’s Council of Realtors, have recently kind of redone our network model on the local level. So, 2018 is the first year that it will be mandatory for all networks within the country to be operating under the new model. We introduced it. We had a transitional year and in 2018 it becomes mandatory. So, we’ll be making sure that everybody understands. We’ve done extensive training on it, but we will be monitoring that around the country to make sure everybody is understanding and in conformance.

Why become a WCR Member in 2018 – WCR Supports Fair Housing

Why Become a WCR Member in 2018
Fort Bend County WCR President, Alicia Jammer.

Also, 2018 is the commemoration of the 50 years of fair housing. Yeah. And so, 2018 is 80 years our anniversary for Women’s Council of Realtors. So, we’re 80 years old. Fair housing is 50 years old. And we will be very much involved in some of the things that will be going on to commemorate the Fair Housing Act.  We’re working with a multicultural committee, if you will, through NAR. And what people don’t realize is that women were not allowed to practice real estate in the early years and then they were not allowed to be members of associations. Some as late as the 1950’s and the 1960’s.  There was gender discrimination and fair housing was responsible for correcting that as well.  Current NAR membership is predominantly female.

Mack:  And you know, diversification in housing is just really important. We live in Sugar Land, Texas, one of the most diverse communities in the entire world. And so, specific to your model for WCR, could you maybe share with us what that looks like for the different chapters and then maybe with me why a young real estate agent who’s getting licensed— And again, it’s not gender specific, is it?  Fort Bend County is the most diverse community in America.

Jo Ann:  No. Not at all. About 10% of our membership is actually male and we love our male members. We think they’re very smart to be part of the organization and the training and educational opportunities that are there are there for everyone.

Mack:  So, the ultimate goal for WCR specific to the individual member and service to the individual member is what?

Why become a WCR Member in 2018 – Make More Money

Jo Ann:   We have outstanding educational opportunities, cutting edge technology, but there a lot of sources now for education. We have a referral network. Statistics show that our members make about 35,000 to 45,000 more per year than the average NAR member.

Why become a WCR Member in 2018 – Bigger and Better

Mack:  Share with me now maybe the model for the individual chapters, and what changes you’ve made in that particular area, and how you feel like it will benefit its members nationwide.

JoAnn:  Okay. What we’ve done is try to streamline the governance piece. So, as far as the officers involved and what their responsibilities are, we tried to streamline that. Instead of having 8 meetings a year, we’re really only requiring 4, but we’re asking them to do what we call industry events, which means they’re bigger, they’re probably a higher caliber, a named speaker or somebody in the area that will draw a bigger crowd. And we want them. So, it’s really quality over quantity.

Mack:  Will you say the goal would be to offer by drawing bigger crowds maybe increase membership?

Why Become a WCR Member in 2018
Fort Bend County Women’s Council of Realtors installation of 2018 Officers.

JoAnn:  Yes. I mean, I definitely think that is— Well, we’ve tested this model in California and that’s exactly what has happened. We’ve also converted our affiliate members to strategic partners. So, the actual members of the organization are all Realtor members and we have some national affiliates but then everyone else will be a strategic partner.

And we, again, think that the strategic partner continue to be involved and work within the organization. It’s just in a different capacity.

Mack:  What would you say to anybody out there right now that maybe isn’t a member to motivate them maybe to become one?

Jo Ann:  Well, I would invite anyone that has the least interest or wants to know what Women’s Council is all about because we try to train and educate leaders within the real estate industry.

Mack:  Thank you for your time today.

Jo Ann:  Pleasure. I mean, man you’ve always taken great care of us. So, we thank you.

Mack:  Thank you, Jo Ann.

WCR President Talks Tax Reform

Low Down Payment Home Loans

Low Down Payment Home Loans

Hi, it’s Mack with One Trust Home Loans and thank you for being here today. You know, I’ve talked about the disaster relief mortgage recently and just had a real scenario where we had a young man who did qualify for the disaster relief mortgage, but was unfortunately not able to participate in it just because he was looking for condominiums and we just couldn’t find a condominium project in the areas that he wanted that were approved for FHA loans. As I stated before, the disaster relief mortgage is a FHA 203(h) mortgage.

HomeReady Offers Low Down Payment Home Loans for Houston Home Buyers

So today, I thought I would talk about FannieMae’s HomeReady program. Now, it is a program that is not designed just for first time homebuyers, and the down payment requirement is only 3%.  HomeReady is designed for low to moderate income and does have geographic or income restrictions for the geographic areas in which the home is located.

Low Down Payment Home Loans

You don’t have to be a first time homebuyer, but you can’t currently own a home to participate in this program. What else can I say about it?  HomeReady has a slightly lower than market interest rate. So, the interest rate is very aggressive. Mortgage insurance is cancellable. So, you don’t have to carry the mortgage insurance for the life of the loan like you would if you were to do a disaster relief mortgage. It also has flexibility on income.

FannieMae HomeReady Allows for Boarder Income

I had a young man recently whose father lived with him and helped him pay the bills. And with appropriate documentation, I was able to use a portion of that income, what we call boarder income, to help him qualify for more home.

30-year fixed mortgages and 15-year fixed loans are available for single family dwellings and condominiums as well

HomeReady does require home buyer education with Framework  or an approved HUD Counselor

I hope this information was helpful. Thank you again for attending and this MortgageMack out. Have a great day and happy holidays

WCR President and Tax Reform

WCR President and Tax Reform

Mack:   Hi, Mortgage Mack here and I’m here with Jo Ann Stevens, the National President of of WCR and a very longtime friend of mine.

Where are you from? Maybe a little bit about your family. And then what we’ll do is we’ll talk about WCR and your trip to Washington and what that meant to you and to the members of Women’s Council of Realtors. Where are you from? Let’s start with that.

WCR President and Tax Reform – Jo Ann has Dedicated Her Life to Service to WCR and NAR

Jo Ann:  I’ve been in the business for over 30 years. I actually live in Richmond, Texas. My office is based out of Sugar Land. And I have worked this Houston market for, like I said, over 30 years. There’s just almost not a part of Houston I haven’t listed or sold in that period.WCR President and Tax Reform

Mack:  Long as I’ve known you, you’ve always been involved in volunteerism in our industry and WCR is one of those areas of volunteerism. You’ve done a lot of charity work as well. I think you recently had— were given, what, a U.S. flag. A flag was flown at the capitol on your behalf and I think— Could you tell us about your day? City of Sugar Land had joined Stevens Day. What day was that?

Jo Ann:  Well, it’s actually Fort Bend County Day. Yes, it was Fort Bend County. And it was the day that I was actually installed as the national president for Women’s Council. So, it was November the 4th. And so, they flew the flag in Washington, D.C. on that day in my honor. You know, when I was installed as the state president, they had a Fort Bend County Day. They had Jo Ann Stevens Day in Fort Bend County, but that was in 1996.WCR President and Tax Reform

Mack:  So, you’ve been involved in WCR for the better part of what?

Jo Ann:  30 years. You know, I was licensed in 1978 and I joined Women’s Council in 1986. And that was actually when we founded a network out here in Fort Bend County.

Your President Goes to Washington to Lobby Home Owners 

Mack:  So you recently you were in Washington DC?

Jo Ann:  I service what we call a Federal Political Coordinator for Pete Olson send who is a member of the House of Representative.  NAR which is National Association of Realtors asked certain people to fly and to Washington DC to meet with their Members of Congress over this tax plan as most people have seen in the news The House actually passed their version of the tax reform and the Senate has now passed their version of the tax reform bill neither of which are very positive towards home ownership.

Mack:  Can you go into detail about what aspects of this legislation is not advantageous to homeowners?

Jo Ann:  Well the realtor community feels that tax reform is definitely needed and in streamlining tax reform what the Congress is doing away with that that would be something like our mortgage interest deduction that is something homeowners can deduct on their income tax report every year what they pay in the form of interest.  There is also capital gains taxes that we pay on property and they’re considering lowering that amount of time you hold your property, so there’s just all kinds of different things in the bill that are really not very conducive to home ownership so the Realtors and the Mortgage Bankers Association actually have really been fighting this piece of legislation, so we flew into Washington DC and met with several Members of Congress, mine being Pete Olson, but Kevin Brady, who is out of The Woodlands is actually the Chairman of the House Ways and Means committee so probably the most interesting meeting we had was with cabin and Kevin who basically said to us, neither of these bills are going to get through in their present form. There’s going to be a lot of talk and negotiation back and forth before we have a final product. And what I WCR President and Tax Reform found to be very encouraging as he said to the realtor community, “Tell us what you can live with.” “Tell us what you can’t live with.” “Where what are your priorities for this bill and we will certainly take that into consideration”, and so I’m hopeful he will do so. I think we all know that Paul Ryan is behind the bill and I think there are certain things that he will compromise on but I think there are other things he will not. Home ownership is the backbone of the American economy.

Mack:  I appreciate your time today and thank you for inviting me into your home.

Jo Ann:  You financed it!

Mack:  I did yes I wish I would have been your mortgage banker for 25 years haven’t I.

Jo Ann:  I think the last 3 houses that we purchased.

Mack:  I think so and we go back to gosh I would think about 1994 is when we met.

Jo Ann:  Somewhere in that.  I’m trying to remember.

Mack:  Yeah! My memory’s going just like you know the the hearing in the seeing is going as well so but. I really do I really do appreciate that and thank you for your time today.  Thank you.




Houston Mortgage Company Donates To Harvey Hero

Houston Mortgage Company Donates To Harvey Hero

Houston, TX – OneTrust Home Loans a Houston Mortgage Company donates to a Harvey Hero $33,450 in home repairs to United States Marine Corps veteran Dexter Gasery for his heroic efforts during the Hurricane Harvey disaster.

Houston Mortgage Company Donates To Harvey Hero because Dexter Gasery put others before himself

During the disaster, Gasery went above and beyond to help his local neighbors. He rescued an elderly woman and her dogs from her home, escorted a family of five to the main road outside of the flooded Laura Koppe neighborhood, and coordinated efforts with police and firefighters to identify those that required medical attention amongst the sheltered at the local school. Gasery also assisted local authorities in combing the area to find those that needed rescue. During the search he discovered a mother and her 18-month old baby and brought them to safety.Houston Mortgage Company Donates To Harvey Hero

The donation will go towards rebuilding Gasery’s home, which experienced severe damage due to the hurricane. The OneTrust Home Loans leadership team, including CEO Josh Erskine, and contractors participating in the rebuild, visited Gasery’s home late last month to present the donation check.

Ian Milefchik, Mortgage Loan Originator at the Houston branch, presented Gasery to the OneTrust Home Loans executive team as a nominee for the company’s Hurricane Harvey Hero program. Milefchik helped Gasery purchase his first home in the summer of 2016. After seeing a post shared by Gasery on social media, Milefchik reached out to offer a lending hand to salvage whatever was left of Gasery’s home. Shocked at the level of devastation Gasery’s home endured, Milefchik recalled how excited Gasery was when he first purchased the home. After witnessing Gasery’s grateful attitude at being able to have helped others during the hurricane, Milefchik was compelled to find a way to help Gasery rebuild his home and nominated him for the program.

About OneTrust Home Loans

OneTrust Home Loans is a privately-owned direct lender with sales and operations across the country. The mortgage lender provides an array of loan options including Conventional, FHA, VA, USDA, Jumbo and more. OneTrust Home Loans places special importance on customer service as evidenced by their tagline, Service is Everything!® For additional information visit

Home Loan Approval

Being pre-approved can make your offer more attractive to a seller in a competitive seller’s market.

Home Loan Approval vs. Pre-Qualified Applicant


Hi. It’s Mack with One Trust Home Loans and thanks for being here. My NMLS number is 208691. And today, we’re going to talk briefly about being pre-qualified verses a home loan approval. You know, we find ourselves in a very tight inventory for houses that are for sale. It is very competitive out there. If you’re a first-time home buyer, it can be very challenging to find a home not only in your price range, but when you do, you find that you’re competing with other buyers.

Having a Home Loan Approval gives Buyers an Edge over Other Pre-Qualified Applicants

One thing that I know that will give first-time home buyers an edge in the market and even, you know, move-up buyers is to be pre-approved versus just pre-qualified. Now, in my 25-year career, the process for most home buyers starts with a pre-qualification wherein, you apply online or you apply in person, and we spend some quality time together, and discuss your goals. And we make sure that those goals are achievable based upon the income, the assets and make sure that the goals are achievable even within the framework of what you define for us with regards to your specific goals for down payment, closing costs and monthly payment.Loan Approval Process

Loan Approval Process Documents

Now, the home loan approval process takes the pre-qualification process several steps further. So, not only do we complete the loan the application,

Having A Home Loan Approval vs. Pre-Qualifed Applicantspend some time together and define your goals, but then we also put together the financial documents that are necessary to support the application, which include your W-2s for the most recent 2 years, pay stubs equal to 1 month’s income, 2 years tax returns, 2 months bank statements, appropriate identification, and some other items.  You can find a link with an approval checklist here on my video blog.

Now, what we do with that information is we not only just— Not only do we take and review it, but we submit your financial documents to an underwriter and request that the underwriter give us a pre-approval. And then we issue a pre-approval letter to you. And that letter in and of itself in a competitive situation where you are competing with other buyers can  make a difference in whether you get the property versus another person that didn’t take the process, that extra step to reassure a seller that you are indeed qualified to purchase a home.

I hope this was helpful. Please leave a comment and please tell us if there’s any of the material that you think would be of value to you that you would like to know more about. I’d be glad to share it with you. Thanks a lot.

FREE Guide To Your Dream Home

FREE Guide To Your Dream Home

Free Guide to Your Dream Home

Our FREE Ultimate Guide to Your Dream Home will help educate and empower buyers to make smart decisions when navigating the home buying process. We recommend starting with our Free Guide to Home ownership where we’ll guide you through 9 steps towards a successful home buying process.

Free Guide to Your Dream Home takes You Step by Step

  1. Examine Your Financial Situation
  2. Get Pre-Approved
  3. Dream-up Your Dream Home
  4. Finding The Right Real Estate Agent
  5. Making An Offer On Your Dream Home
  6. The Home Loan Process
  7. Get A Home Inspection
  8. Closing
  9. Moving Into Your Home

We start with the process of self-examination of your existing finances by beginning with a budget to help assess changes and preparations needed to insure affordability. You’ll find a budget worksheet along with links to Credit Karma and FREE Annual Credit Report for a quick peek at your credit.

Next, we review the importance of having your loan approved in advance along with a Dream Home Checklist to help nail the right home to meet your wants and needs.FREE Guide to Your Dream Home

In addition, you’ll discover how your Real Estate Agent works for you,  the importance of the home inspection, closing on your loan, moving, home inspections to the all important, Do’s and Don’ts during the loan process.  All this and more in one simple and easy to read, downloadable guide.

Click Here for Your FREE Copy

Calcon Morggage LLC, dba OneTrust Home Loans is an equal housing lender; NMLS #46375:  3131 Camino Del Rio North Suite 1680, San Diego, CA 92108.  Corporate phone (888) 488-3807.  For more licensing information visit:  All products are not available in all states.  All options are not available on all programs.  All programs are subject to borrower and property qualifications.  Rates, terms and conditions are subject to change without notice.

Mack F. Blankenship is a Mortgage Loan Officer at Onetrust Home Loans, 1345 Campbell Rd., #222, Houston, TX 77055.  Phone:  (346) 223—0336; NMLS #208691:

Equal Housing Lender

Home Loans For Disaster Victims

Zero down home loans available for victims in Presidential Declared Disaster Areas…

Home Loans for Disaster Victims

Hi. My name is Mack with One Trust Home Loans and welcome. My NMLS number is 208691 and today, we’re going to talk about home loans for disaster victims also called the Disaster Relief Mortgage, otherwise known as FHA 203h

If you or someone you love or know has been displaced as a result of a disaster within a Presidential Declared Disaster Area and whose home has been damaged and/or destroyed, you could be eligible for this special financing. This program does not require a down payment and has very flexible guidelines with regards to income, credit, and assets.  In addition, FHA 203(h) also allows for seller contribution up to 6% of the sales price.

Home Loans for Disaster VictimsHome Loans for Disaster Victims it Could be Zero Down

You could move in for as little as zero or for as little as it might take to rent a new apartment or a new home.  Again, the program is available in Presidential Declared Disaster Area to persons that were renters or homeowners whose homes were destroyed and/or rendered unlivable. The loan program is available for 1 year after the declaration of disaster. And if you think you might be eligible and would like to have more information, please reach out to us at or or please leave a comment under this video and I will be glad to respond to your comment.

If you have any suggestions for additional material that you think would be important to you, I would love to hear from you.

Thank you. Have a great day.

Calcon Morggage LLC, dba OneTrust Home Loans is an equal housing lender; NMLS #46375:  3131 Camino Del Rio North Suite 1680, San Diego, CA 92108.  Corporate phone (888) 488-3807.  For more licensing information visit:  All products are not available in all states.  All options are not available on all programs.  All programs are subject to borrower and property qualifications.  Rates, terms and conditions are subject to change without notice.

Mack F. Blankenship is a Mortgage Loan Officer at Onetrust Home Loans, 1345 Campbell Rd., #222, Houston, TX 77055.  Phone:  (346) 223—0336; NMLS #208691: