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William Crawford's Answers


want a 300k mortgage, confused about terms?
A 5/1 ARM or 7/1 ARM is a loan where the interest rate remains fixed for the first 5 or 7 years of the loan respectively, and then converts to a adjustable rate mortgage. What I advise my clients when considering a 5/1 or 7/1 ARM is to take the amount of time they intend to stay in a home, and then add 2 years to...
Score 623, Husband 720, curious about Loan?
Hi Julie -My name is William Crawford and I am the branch manager at Supreme Lending here in Southlake. It seems that the best answer to your situation is to use our FHA program which only requires a 620 credit score. Even with the lower score, on a 30 year loan your rate on an FHA loan would be 4.5% fixed.Feel...
Can I only refinance my first mortgage and not my second mortgage?
I want to tread lightly here, as I need to respectfully take issue with some of the well meaning advice you have been given by my industry colleagues.First, to answer your question directly it is absolutely possible for you to refinance the first mortgage without refinancing the second lien. Some of...
Can I get a streamline FHA refinance to switch from a 30-year to a 15-year mortgage?
My best guess is that this question stems from being told different things by different lenders that you ask the question too. Let me kind of give you a little bit of insight as to why this is happening.To be clear, FHA does not have any prohibition from using the streamline refinance program to reduce...
Are Second home mortgages available for less than 20% down
Yes, in fact there are several programs availabe to purchase a second home with only 10% down.My name is William Crawford, and I am the Branch Manager of Aspire Lending in Southlake, TX. I would be happy to personally assist you in reviewing all of your options for a second home purchase. I can be reached at...
Is there any way I can help my girlfriend buy her first house?
Depending on what you are attempting to accomplish in terms of loan program, down payment amount, etc., there are in fact several options available to you. The important thing is to make sure that the loan is properly structured so that the property that your girlfriend is purchasing is not considered...

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