No Down Home Loans to $1,000,000 in the DFW area of Texas. McElroy interviews mortgage pro Derogatis

100% financing with Kathleen Derogatis Mortgage Pro @ 469-438-3584
and David McElroy of McElroy Realty Partners @ 817-966-9495

David and Kathleen discuss the misconception that a 20% down payment is required for home financing.
They highlight the availability of 100% financing options as an alternative to the traditional down payment.
Kathleen introduces two programs for 100% financing, one for first-time homebuyers and another for professionals.

First-Time Homebuyer Program 01:27

The first program offers 100% financing up to $335,000 with a conventional 30-year fixed loan.
With No down payment required, and no need for mortgage insurance either.
Qualifications include a 680 credit score and manageable personal debt ratios.

Professional Program 03:26

Geared towards professionals with specific licenses, such as real estate agents, doctors, and teachers.
Offers 100% financing up to $1 million, with similar credit score and debt ratio requirements.
No income limits on this loan, making it an attractive option for higher-income borrowers.

Real Estate Market Trends 04:58
They discuss the current real estate market trends, including multiple offers on well-maintained properties.
Mentions the importance of considering properties that may need cosmetic updates for affordability.
Emphasizes the value of properties with good structural elements like plumbing, foundation, and roof.

Buying Strategy and Property Value 08:18
Advises buyers to look at a variety of properties to gain a sense of comparative value.
Highlights the long-term appreciation and leverage benefits of homeownership.
Stresses the importance of realistic assessments and understanding the value of properties over time.

Mortgage Process and Interest Rates 11:26
Explains the importance of getting pre-approved before house hunting to avoid surprises later.
Discusses the average timeline for closing a loan and the impact of interest rates on property values.
Addresses concerns about waiting for lower interest rates and property value collapses, emphasizing the current demand for housing in the DFW area.

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