To-do’s List 🤔

Wondering how to keep yourself busy while going through closing? Here’s a list of to-dos that will keep you occupied and help you prepare for your upcoming move! #thehelpfulLO #home #house #listreports #homeowner #newhome #realestate #mortgage #loanofficer #happyhomeowner

Reasons People Love Their Homes 🏡

Let’s talk about home renovations

Some home features will grow on you, and some you might need to change. If you want to renovate, let’s talk about your financing options. #thehelpfulLO #home #house #listreports #homeowner #realestate #happyhome #homeowners #happyhomeowners #dreamhome #mortgage #homereno #renovations #loanofficer

Pre-qualified vs Pre-approval

Before you go looking for (and falling in love with) a home, you need a realistic idea of what you can afford, make sure your credit is in good shape, and, most importantly get pre-approved

Starting the process by “just browsing” could set you up for heartbreak. Before you go looking for (and falling in love with) a home, you need a realistic idea of what you can afford, make sure your credit is in good shape, and, most importantly, get pre-approved for a mortgage. #thehelpfulLO #home #house #listreports #homeowners #househunting #themoreyouknow #beprepared #investment #icanhelp #realestate #loanofficer #mortgage #themoreyouknow #preapproved

Mortgage Terminology

Lenders use FICO scores to determine credit risk

Lenders use a FICO score to calculate credit risk. It’s based on the credit reports of the borrowers. The higher the score, the better. But don’t let a low score keep you from pursuing financing. Let’s talk and see what you can afford. #thehelpfulLO #home #house #listreports #homeowner #househunting #finances #investment #mortgage #loanofficer #realestate #icanhelp #themoreyouknow

Same Day Mortgage

#samedaymortgage #mortgagemack

With our #SameDayMortgage you can apply for a mortgage and be ready to close in as little as one day. Think we’re joking? We have already been doing this for over one year! #FastMortgage
Contact me today to learn more:

Marketing Your Real Estate Business with Facebook

Randall Smith, CE Instructor #4887 – CE Course #34991

Real Estate Broker, Randall Smith talks about his success using Facebook Ads in his personal Real Estate business and has taken his experience and knowledge and created a CE course for local agents.

Felons Who Flip Houses – Episode #8 MortgageMack Live

Felons Who Flip Houses – Episode #8 MortgageMack Live

Bernard and Bryan Theriot are on a mission to inspire and help others learn to flip houses

Their story reads like a Hollywood movie: growing up poor, but motivated to rise above it all, Bernard worked hard to put himself through University and succeed in business, while his Felons Who Flip HOusesbrother Bryan, also known as the rapper Tow Down, parlayed his musical and songwriting talents into a record deal with a major label. It was the late 1990’s. The music business was still in its halcyon days, and Tow Down was riding high, with a hit song and mounting support from his label. Bernard quit his job in finance and dedicated himself to managing his brother’s career full time. They collected large advances, and built a state of the art studio in their hometown of Houston, Texas, in which they recorded and produced music for local Houston area artists as well as for Tow Down. Life was pretty good.


Felons Who Flip Houses
Rapper, brother accused of growing pot at home 850 plants, worth about $4 million, found in Missouri City

When the music industry crashed in the mid-aughts, they continued to press on independently, but slowly went broke as recording software became consumer-driven and the golden age of the recording studio came to a screeching halt. Without the funds to Felons who Flip Housesreinvest in updated gear, and not having the courage to admit defeat or re-imagine their business plan, they turned to the marijuana trade to sustain the illusion, and did it on a grand scale. Holding on to the last shred of their pride, they tried hard to maintain an image of success and prosperity, but what was fueling their dream was a federal crime that eventually caught up with them.

God and the creative muses have re-channeled their energies to help others learn to flip houses and overcome adversity

Both Bernard and Bryan were facing a potential forty-year sentence, but were lucky enough to get a second shot at life. With deep gratitude and a genuine passion for family, God and the creative muses, they have re-channeled their energies, building a legacy of strength and support so that others might learn from their missteps.

Tow Down – Country Rap Tune

Tow Down – I Use To Know


2018 Bike to School and Work Day

2018 Bike to School and Work Day – City of Sugar Land

An Amazing group of people came together for one day to show support for cycling in the City of Sugar Land as May Joe Zimmerman declared May as Bike Month in our beautiful city.  We had an extraordinary turn out for our 2018 Bike to School and Work Day here in the City of Sugar Land, TX.


FHA and Deferred Student Loans

FHA and Deferred Student Loans

MortgageMack Here and today we’re going to discuss FHA and Your Student Loans.

FHA and Your Student Loans

FHA is a mortgage loan insured by the Federal Housing Administration that requires the borrower to pay mortgage insurance to insure the lender against default.  I just completed a Blog Post specific to the FHA purchase and refinance loan called FHA 203b.

Now, for many years, FHA has allowed for the lender to exclude student loan payments in their qualification analysis or what we call debt to income ratio…

if we could prove the student loan payments were deferred for at least 12 months from the day of closing.  But,

Today’s FHA requirement differentiate between deferred loans and student loans and we’re going to talk specifically about Student Loans debt.

FHA and Your Student LoansStudent Debt has Reached the Highest it has Ever been in our History.

The average Student Loan debt for the Class of 2017 was $39,400 per student.  The total amount owed by American students and their parents is $1.48 trillion spread among 44 million borrowers with a 90 plus days delinquency rate of 11.2%.*

Many economic professionals, I’ve listened to and spoken to over the past years have stated Student Debt is likely to be the next major US economic bubble.**

Now, I’ve had a couple of borrowers with an exceptional amount of total Student Loan obligations and FHA gives me 3 options for declaring that debt on the mortgage application which we’ll analyze now.

So, let’s define Student Debt.  FHA refers to Student Loans as a liability incurred for educational purposes.  Pretty simple?

FHA also, states all Student Loans owed by the borrower must be included as an active liability with the following requirements.

  1. If the payment used for the monthly obligation is: a) less than 1% of the outstanding balance reported on the credit report and b) less than the monthly payment reported on the Borrower’s credit report, the lender just obtains written documentation of the actual monthly payment, the status and evidence of balance and term: THEN
  2. Regardless of the payment status, the Lender must use either the GREATER of: a) 1 percent of the outstanding balance of the loan or b) the monthly payment reported on the credit report unless c) the actual documented payment provided is fully amortized to full term from beginning to end!

Now, as I stated before, I had client with an $80,000 Student Loan and according to the guidelines, I must use the the 1% which $800 and there was no payment reported on the credit report and even if there was and the payment was less than 1%, I still had to use the $800/mo. calculation.

Therefore, I asked my borrower to call the Creditor and request a full amortization schedule for her Student oan, which the servicer obliged and the payment was reduced to $319/mo.

Big difference from $800/mo., wouldn’t you agree?

So, if you have Student Loan debts and are afraid can’t qualify, call me or apply at and help you with a FREE analysis of your Student Loans.

Thank you for watching.  I welcome your questions and comments and please subscribe to


*Student Loan Statistics

**Student Loans Economic Bubble

FHA Mortgages Texas

FHA Mortgage Texas

MortgageMack Here.

Today we’re going to discuss FHA loans, specifically the FHA 203b program, FHA also offer disaster relief mortgages which you can find information about on my vBlog.

FHA Mortgages in Texas

FHA Mortgages in Texas – What is a FHA Home Loan?

An FHA loan is a mortgage that’s insured by the Federal Housing Administration (FHA). … However, borrowers must pay mortgage insurance premiums, which protects the lender if a borrower defaults. Borrowers can qualify for an FHA loan with a down payment as little as 3.5% for a credit score of 550 or higher with OneTrust Home Loans.

Benefits of a FHA Mortgage…

  • Low down payment of 3.5% and you do not have to be a first time home buyer or meet income limits as FannieMae requires for their 3% down program
  • The minimum credit score with OneTrust Home Loans is 550 subject to approval wherein the minimum score for a conventional loan is 620
  • FHA will allow for a person to currently be in a Chapter 13 BK as long as they can prove on time payments to the courts for 12 months in accordance with their original BK plan and a letter from courts granting permission to enter to a mortgage transaction
  • Allows the seller to pay up to 6% of the sales price towards the buyer closings and pre-pays not to exceed the actual total of the closing costs and pre-pays wherein conventional will only allow 3% from the seller with 3 to 5% down payment
  • There are no income limits but the maximum mortgage for Harris County and the surrounding area is: $331,200 for a single family dwelling and higher for 2 to 4 unit residences
  • The debt to income ratio is much higher for FHA affording people the opportunity to buy more house. Subject to AUS approval, I’ve seen DTI up 57% approved and recently closed a transaction with a 57% DTI ratio wherein conventional is limited to 50%.

FHA Mortgages in Texas

So, those are some the benefits of FHA and the #1 reason folks might avoid FHA is the extra mortgage insurance costs relative to a conventional loan.  FHA’s has an upfront mortgage insurance premium of 1.75 and monthly, depending on down payment and length of the loan of as much as .85% and the monthly amount is permanent for the life of the loan.

Most owner don’t live in their home past 9 years, so I’m not sure the permanency of the monthly mortgage insurance is that big a deal.

In summary, FHA is great loan program that offers more opportunity to more folks who want to own a home.

If you or someone you know would be interested in knowing more about a FHA home loan, call me or email me at or go to to apply and please subscribe to my vBlog at

I look forward to your questions and comments.

Thanks for watching and have a great day!  MortgageMack out

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