3 DOWN CONVENTIONAL MORTGAGE 2013

“Most conventional loans require a down payment of 5 percent, but some programs allow a down payment as low as 3 percent,” says Doug Benner, a loan officer with Embrace Home Loans in Rockville, Md. “A few banks and credit unions have special 100 …

A conventional mortgage is one that is not insured or guaranteed by the federal government. Also, unlike mortgages that are sanctioned by the Federal Housing Administration or Veteran Affairs Department, these mortgages will not have the financial backing of the government. The easiest way to receive a conventional mortgage is to offer a large down payment. The following are the advantages of conventional mortgages.

Numerous lenders and payment options

As these loans are easy for the lending institutions to sell, you will be able to find several flexible mortgage plans that will be suitable for you. As there are very few limitations on these loans, lenders can easily sanction them. This flexibility allows lenders to provide a conventional mortgage on relaxed payment terms.

Decreased rates of interest

As these mortgages are offered by numerous lenders, they will compete with each other to offer you decreased interest rates. Also, if you offer to place a sizeable down payment when you take the loan, the rates will be decreased further as the lenders will have a lower risk of credit.

Avoid private mortgage insurance

When you opt for a conventional mortgage, the private mortgage insurance will not be needed after 20% of the equity of the property has been paid. This is a good way to save money as it will result in a significant decrease in the monthly payment amount. With the subsequent savings, you have the opportunity to receive better terms on refinancing the mortgage if and when it is required.

Lower eligibility criteria and increased limits of mortgage loans

When compared to the loans sanctioned by the Federal Housing Administration or Veteran Affairs Department, conventional mortgages have lenient criteria for eligibility.

These mortgages also have an increased mortgage limit. This means that you will now be able to purchase the pricey properties for which you will not receive a mortgage from commercial banks and other lending institutions. As the mortgage does not have to receive approval or funds from the government, it will be sanctioned quickly.

Mortgage alternatives for lower credit scores        

Usually, an approval of a mortgage loan requires solid credit scores. But, a conventional mortgage will be sanctioned even if you have a weak score of credit history. However, the mortgage may have higher rates of interest and stricter terms as the risk of credit will be higher for the lender.

Less time to pay off the mortgage

As these loans are offered by numerous lenders at flexible rates of interest, it will be faster to pay off this mortgage. Also, these mortgages will have lower closing costs than those sanctioned by the Federal Housing Administration. If you have deposited a sizeable down payment that is more than 20% of the equity of the property, you can eliminate private mortgage insurance from your monthly payments which will help you to pay off the mortgage quickly.

Several lenders offer a conventional mortgage on investment properties as well. This is an excellent way to avoid borrowing equity against your home. These mortgages are very common as they were among the first loans that were provided by local lenders. The lenders will decide the borrower’s loan eligibility and amount.

Mansfield, Texas (PRWEB) September 05, 2013

Willy Kelsey, Executive Vice President and Chief Operations Officer at Texas Trust Credit Union, has been named the 2013 Exceptional Leader award winner by CUES, the Credit Union Executives Society.

Kelsey, who has been with Texas Trust since 2005, earned the honor for numerous accomplishments at the credit union during his eight-year tenure, as well as for accomplishments earlier in his quarter-century career. He will receive the award during the CUES CEO/Executive Team Network event November 3-6 in San Diego.

The CUES Exceptional Leader award acknowledges decision-makers for their ambition, participation, and devotion to their credit union and the credit union movement. Nominees are evaluated on their accomplishments, goals, problem-solving abilities, professional development, and community and CUES contributions.

Highlights of Kelsey’s tenure at Texas Trust include leading the restructuring of the mortgage department, a strategic success that paved the way for the credit union to achieve record mortgage loan production. According to ranking by the Dallas Business Journal, Texas Trust is the top credit union mortgage lender and the 16th largest overall mortgage lender in the Dallas-Fort Worth market, based on 2013 results.

In 2013, Kelsey led a Texas Trust initiative to centralize loan underwriting, resulting in the lowest direct loan delinquency in the credit union’s history. That same year, he also directed the refinement of the collection processes and restructured staffing, which brought consumer loan delinquency rates down to the lowest point in 20 years.

His restructuring efforts in the business lending department, creation of a deposit operations department to improve card operations, and overhaul of financial reporting processes to emphasize analysis of trends data strengthened Texas Trust’s lending processes. With an improved ability to make lending decisions, Texas Trust achieved a 23.9 percent growth rate in 2013.

“Willy Kelsey has been an integral part of our success since arriving at Texas Trust,” said Jim Minge, CEO of Texas Trust Credit Union. “His leadership style and great business sense have helped power our growth. The number of branches, for example, has nearly doubled under Willy’s guidance, thanks to a highly effective reorganization of branch operations that he led, and his emphasis on member-friendly sales and service.”

In addition to having earned the Certified Chief Executive designation by attending CEO Institute, Willy Kelsey was in the group of inductees recognized in the inaugural CUES Rising 100 program in 2006, said Chuck Fagan, CUES president/CEO. He had great potential, and has achieved a tremendous amount since then.

About CUES

The Credit Union Executives Society is a Madison, Wisconsin-based, independent, not-for-profit, international membership association for credit union executives. CUES mission is to educate and develop credit union CEOs, directors and future leaders. To learn visit the CEO/Executive Team Network, call 800.252.2664 or 608.271.2664, ext. 340; or email cues(at)cues(dot)org. To learn more about the CUES Exceptional Leader award visit cues.org/recognition and select CUES Exceptional Leader. To learn more about CUES, visit cues.org.

About Texas Trust Credit Union

Texas Trust, one of the largest credit unions in North Texas and the 21st largest in Texas, provides financial services that enable members to build brighter financial futures. It has been operating for more than 75 years. As a full-service financial institution, Texas Trust offers checking, savings, mortgages, credit cards, CDs, Money Market accounts, IRAs, and investment and insurance services. Its business services include SBA and conventional loans, electronic payment cards, checking and money market accounts, merchant card processing, online banking, insurance, and the Employee Solutions Network. With assets of more than $ 760 million, Texas Trust operates in Dallas, Tarrant, and Henderson counties, as well as parts of Ellis and Johnson counties. It has 11 branches located in Mansfield, Grand Prairie, Arlington, Cedar Hill, Hurst, and Athens. Texas Trust is a federally insured financial institution. Deposits up to $ 250,000 are insured by the full faith of the federal government through the National Credit Union Administration (NCUA). For more information, visit http://www.TexasTrustCU.org.








A conventional mortgage is one that is not insured or guaranteed by the federal government. Also, unlike mortgages that are sanctioned by the Federal Housing Administration or Veteran Affairs Department, these mortgages will not have the financial backing of the government. The easiest way to receive a conventional mortgage is to offer a large down payment. The following are the advantages of conventional mortgages.

Numerous lenders and payment options

As these loans are easy for the lending institutions to sell, you will be able to find several flexible mortgage plans that will be suitable for you. As there are very few limitations on these loans, lenders can easily sanction them. This flexibility allows lenders to provide a conventional mortgage on relaxed payment terms.

Decreased rates of interest

As these mortgages are offered by numerous lenders, they will compete with each other to offer you decreased interest rates. Also, if you offer to place a sizeable down payment when you take the loan, the rates will be decreased further as the lenders will have a lower risk of credit.

Avoid private mortgage insurance

When you opt for a conventional mortgage, the private mortgage insurance will not be needed after 20% of the equity of the property has been paid. This is a good way to save money as it will result in a significant decrease in the monthly payment amount. With the subsequent savings, you have the opportunity to receive better terms on refinancing the mortgage if and when it is required.

Lower eligibility criteria and increased limits of mortgage loans

When compared to the loans sanctioned by the Federal Housing Administration or Veteran Affairs Department, conventional mortgages have lenient criteria for eligibility.

These mortgages also have an increased mortgage limit. This means that you will now be able to purchase the pricey properties for which you will not receive a mortgage from commercial banks and other lending institutions. As the mortgage does not have to receive approval or funds from the government, it will be sanctioned quickly.

Mortgage alternatives for lower credit scores        

Usually, an approval of a mortgage loan requires solid credit scores. But, a conventional mortgage will be sanctioned even if you have a weak score of credit history. However, the mortgage may have higher rates of interest and stricter terms as the risk of credit will be higher for the lender.

Less time to pay off the mortgage

As these loans are offered by numerous lenders at flexible rates of interest, it will be faster to pay off this mortgage. Also, these mortgages will have lower closing costs than those sanctioned by the Federal Housing Administration. If you have deposited a sizeable down payment that is more than 20% of the equity of the property, you can eliminate private mortgage insurance from your monthly payments which will help you to pay off the mortgage quickly.

Several lenders offer a conventional mortgage on investment properties as well. This is an excellent way to avoid borrowing equity against your home. These mortgages are very common as they were among the first loans that were provided by local lenders. The lenders will decide the borrower’s loan eligibility and amount.

If you think that dieting will make you lose weight then think again. This is a very old way of thinking and the chances of you succeeding are as slim as a monkey saying the alphabets in reverse.

I know what am saying seems illogical, well the reason is unlike the commercials you are used to which promote fad diets; I have no intention of shoving my hands into your pocket no matter how big they may be. Let’s face it the training industry is one of the fastest growing industries next to entertainment. And like any other industry you must find fraudsters who are looking for people who are very desperate and easy game for them. Try one day listening to these commercials, they are so full of lies that if you fall victim to them you will only have yourself to blame.

Conventional diets usually propose that in order to lose weight you should drastically cut down your calorie intake. This can not be further from the truth and if you follow such kind of a diet you will end up gaining weight instead of losing it. If you severely cut down your calorie intake, your body will go to starvation mode. When your body is in starvation mode it will start preserving energy, and the way it does this is by burning off muscles instead of fat. This will lead to a reduction of your lean muscles and bone density, which could affect your composition and body posture

The reason why conventional diets never work is as follows;

1. They lead to depletion of the muscles
If you take in small amounts of calories, you will force your body to respond by going into starvation mode. When the body is in starvation mode it will start holding on to fat and instead will start burning of muscle of the body.

2. Such diets may actually lead to increase in weight.
When your body is in starvation mode, your lean muscles are used up to generate energy but fat is left out.
This will lower the body’s metabolic rate as your continue losing your lean muscles and there will also be an increase in your body fat.

3. Such diets will lead to a low metabolic rate
If you have a low metabolic rate you will not be able to lose fat. For you to successfully lose weight you need to boost your body metabolism and going on such diets will not serve this purpose.

4. Such diets lead to food cravings
If you have ever tried to stay without eating for almost a day then you will attest to what I am saying. The more you starve yourself the more you want to eat and there is no way you can succeed in losing weight if you are uncomfortable all the time. I tried fasting once for a whole day, by the time it was mid day I could not think clearly.

5. Such diets deplete your body energy
If you do not have enough calories in your diet, the body will be unable to generate energy.

Los Angeles, CA (PRWEB) September 01, 2013

Liberty America Financial is helping veterans achieve their homeownership dreams in California. The mortgage loan and financial services company works almost exclusively with veterans and U.S. military service members to provide California VA loans, and helps thousands of buyers purchase California real estate with no money down.

California has one of the largest concentrations of veterans in the country, with VA medical centers and clinics serving over 2 million veterans annually. Veteran owned businesses are plentiful and veteran jobs are in demand, making some of these top California cities a popular place for military service members to purchase a home:

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