John Lyng - Mortgage Banking

09/26/2020

In addition to crazy low rates, PenFed Credit Union offers a lender credit on all purchases, and collects NO lender fees.

Contact me for details and get your rate locked this weekend.

08/15/2020

While many lenders are raising rates and tightening guidelines, PenFed is offering aggressive rates that can save thousands of dollars over the life of your loan when compared to your current lender. Contact me for an approval.

08/01/2020

PenFed Credit Union has lowered rates for the weekend. In addition to these rates, we do not collect any origination fees, plus a lender credit on top!

08/18/2017

I will be assisting the Listing Agent at this open house tomorrow from 1-3PM.

In addition to a lower down payment with discounted mortgage insurance, grant money is available for down payment and closing costs if needed, up to $15,800. Come take a look tomorrow and ask me about it.

This 5 bedroom 3 full bath home comes fully updated with New Carpet, Wood Floors, Fresh Paint Inside and Out, New Landscape, New Door k***s, Back splash, Granite Counter tops, LED Recess lighting and GRAND LED Chandelier fixtures throughout the house. Current owner has updated this home beautifully…

08/15/2017

I will be partnering at this open house this Saturday from 1-3PM. This home can be bought using a Conventional loan that only requires a 3% down payment, with discounted mortgage insurance. This is a much better way to go than using the FHA loan program.

There is also grant money available for as much as $15,800 for down payment and closing costs. Contact me at 214-862-3579 or [email protected], and let me show you how to buy this home and keep most of your cash.

(NTREIS) For Sale: 5 bed, 3 bath, 2410 sq. ft. house located at 2861 Ridgedale Dr, Lewisville, TX 75067 on sale now for $333,000. MLS # 13599706. This 5 bedroom 3 full bath home comes fully updated with New ...

08/14/2017

I'm interested to hear opinions from Financial Advisers on this.

I talk with borrowers about trying to keep their hands on their savings, and use grants or down payment programs instead. Grant money has recently been made available to families with higher incomes (up to $84,400 for families of 3 or more).

Realtors, if you have clients that are stalled right now from moving forward on an approval, let me take a look and see what needs to be done to get them looking at properties. Contact me at 214-862-3579 or [email protected].

Are you considering borrowing against your 401(k)? This is a bad idea, and you shouldn't do it. Here are four reasons you should keep your retirement cash where it is.

08/11/2017

I saw this piece this morning, I have a few thoughts:
- In the Dallas/Fort Worth market, home prices are increasing so quickly that in my opinion most families will not be able to save at a pace to keep up. This article talks about saving $750/month for a down payment. Raise your hand if you can or will do that. IF YOU DIDN'T RAISE YOUR HAND BUT YOU HAVE ENOUGH FOR THE FIRST AND LAST MONTH'S RENT I CAN PROBABLY GET YOU A GRANT FOR THE REST NEEDED AT THE CLOSING ON YOUR NEW HOME.

- I'd like to hear from Financial Advisers on this, but I often tell people to leave their investments and 401k alone. You'll lose ground on the gains, and you have to pay yourself back on the 401k or pay taxes and penalties.

Not very many people bring 20% down any more. In that case you'll pay mortgage insurance BUT there are programs with reduced mortgage insurance rates, and they are Conventional loans. I try to keep buyers away from FHA, because not only is the mortgage insurance very expensive, IT STAYS ON THE LOAN FOR THE ENTIRE 30 YEARS. This is the case for any FHA 30-year FHA loans done from June 2013 to now. If you did an FHA loan during that period contact me about converting it to a Conventional loan. I will show numbers before we do an application.

SORRY FOR THE ALL CAPS BUT FB DOESN'T ALLOW BOLD OR ITALICS.

Is it really possible to save a 20% down payment? Absolutely -- if you know how to go about it.

08/10/2017

I can help with many of the points listed in this piece.
- I can help with buying homes that need some updates or repairs. Cendera Funding makes it much easier to qualify for renovation and construction loans, so you can make an offer on those 'price reduced' properties and renovate that kitchen, bath, etc.
- We typically close in 21 days or less, something that can put your offer to the front of the line.
- If you don't have the 20% for a down payment, I offer a Conventional loan that only requires a 3% down payment, with discounted mortgage insurance.

Contact me at 214-862-3579 or [email protected], and let's get you into your new home with a great mortgage.

If you love a good deal, we have the tips on how to score a great property at an even better price. Check out our bargain hunter’s guide to buying a home.

08/07/2017

Did you buy your home using the FHA program after June 2013? The mortgage insurance in your payment is very expensive, and even worse, it stays on the loan the entire 30 years, unlike a Conventional loan.

Let's see about converting that FHA to a Conventional loan with discounted mortgage insurance, in some cases we might be able to eliminate it since home values are rising so fast.

Contact me at 214-862-3579 or [email protected], we get a look at the numbers and see if it's worthwhile to do an application.