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713-GO-BLINK
615 Heights Blvd.
HOUSTON, TX 77007

NMLS #1795324
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Texas 713-GO-BLINK / 713-462-5465
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Blink Lending & Investments

Blink Lending & Investments

Texas Home Loan Mortgage Lender | Blink Lending & Investments

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Knowledge Base category: Getting Started

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  • Knowledge Base
  • Getting Started

Getting Started

  • Find Answers
  • Getting Started
    • Find Answers
  • Escrow Questions
    • What is escrow?
    • Do I have to escrow?
    • Is there a cost to waiving escrow?
    • Why do I have to prepay my escrow account at closing?
    • How does escrow work?
    • Is there a benefit to escrow vs. not escrow?
  • Comparing FHA & Conventional Loans
    • What is the difference between a Conventional and an FHA loan?
    • When is an FHA better than a Conventional loan?
    • When is a Conventional loan better than an FHA loan?
    • Why does FHA have 2 mortgage insurance premiums?
  • Down Payment Options Explained
    • What’s the minimum I need to put down on a home? Do I need 20% saved up?
    • What Is the Minimum Required Down Payment for an Investment Home?
    • What Is the Minimum Required Down Payment for a Vacation Home?
    • How much is my Down Payment?
    • What is the least amount of down payment for buying a house?
    • What is the minimum Down Payment available?
    • How much is my Down Payment?
    • What is the least amount of down payment for buying a house?
    • What is the minimum Down Payment available?
    • Can my parents help with my down payment?
    • Can my down payment be a gift and/or gifted to me?
    • What are the allowable gifted down payment options?
  • Title Company Terminology
    • What is a Title Commitment?
    • What is an Owner's Policy?
    • What is a Loan Policy?
    • What are Endorsements?
    • What is a Deed of Trust or Mortgage?
    • What are Warranty Deed, QuitClaim Deed, and Vesting Deed?
    • Who is an Escrow Agent?
    • What is a Settlement Statement?
    • What are Escrow Fees?
    • What are Good Funds?
    • What are Wire Instructions?
    • Who is a Signing Agent?
    • What is a Payoff Statement?
    • What is a Tax Certificate?
    • What is a Disbursement Ledger?
    • What is an Insured Closing Protection Letter (CPL/ICPL)?
  • Investment Lending 101
    • What is Delayed Mortgage Financing?
    • What is the difference between a delayed financing mortgage and a standard cash- out refinance?
    • What is a DSCR loan?
    • What is the difference between a Vacation Home and 2nd Home? (Vacation Homes and 2nd Homes)
    • What is the difference between Investment homes and Vacation homes?
    • When is the best time to buy real estate? (and a house, a home, my house, my home)
    • When is the best time to sell real estate? (and a house, a home, my house, my home)
    • Who would you recommend as local investor friendly bank?
  • Questions on Property Appraisals
    • What is an Appraisal?
    • Why is an Appraisal needed?
    • How much does an Appraisal cost?
    • How much are your appraisals?
    • Is an appraisal required?
    • What is an Appraisal Waiver?
    • How is an Appraisal Waiver obtained?
    • What happens if my house appraises less than the purchase price?
    • What happens if my house appraises for less than the purchase price?
    • What happens if my house appraisesfor more than the purchase price?
  • Private Money
    • Am I paying interest on the undrawn or unused rehab budget?
    • How does your Draw Process work?
    • What if I need a loan extension?
    • How long does it take to receive a Draw Request?
    • What is the Draw Process and How Does It Work?
    • Can you help with the BRRRR strategy?
    • What if I don’t want to close in my entity name during the refi process?
    • Can I refinance in the name of an LLC, entity and/or a Trust?
    • How long do I have to wait to transfer my loan from my personal name to my LLC or entity name after closing on a long-term loan?
    • When is my Private Money Loan payment due?
    • Why is my statement interest different than the amount listed on my note?
    • Will I get a 1098 or 1099 statement?
    • What is your payoff process?
  • Plot and Survey Information
    • What is a Survey?
    • Why is a Survey needed?
    • How much does a Survey cost?
  • Title Insurance Explained
    • What is Title Insurance and Why is it needed?
    • Can I Borrow the Down Payment for an Investment Home Purchase?
    • When is the best time to find (and pick, hire, chose) a Realtor?
  • Cash-Out and HELOC Options
    • How long do I have to wait to cash out my equity on my investment property?
    • How much equity can I cash out of my investment property?
    • Do you offer HELOC’s?
    • How many loans can I get?
    • Do I Have to Wait 12 Months to Cash Out My Equity?
  • Joint Borrowers and Co-Signers
    • Can my parents sign as co-signers?
    • Can my in-laws sign as co-signers?
    • Can I have a co-signer on a loan?
    • What do you need from a co-signer?
    • What is needed from a co-signer?
    • Can I have a partner, co-borrower or co-signer on a loan with me?
  • Pre-Approvals and Affordability Questions
    • How much can I afford?
    • How much can I qualify for?
    • How much can I get pre-approved for?
  • Assets and Reserves Information
    • What are Reserves?
    • Why are Reserves needed and/or required?
  • Land, Lot and Construction Queries
    • Do you offer Land Loans?
    • How can I get a Land Loan?
    • Do you offer Lot Loans?
    • How can I get a Lot Loan?
    • Do you lend on land and/or offer Lot Loans?
    • Do you lend on new construction and/or offer construction loans?
    • Why do I have to provide w-2’s if I have provided my IRS Tax Returns?
    • Why do I have to provide my IRS Tax Returns instead of my Tax Transcripts?
    • Do I have to sell my current house before buying my next house?
    • Can I have two (2) home loans at the same time?
  • Self-Employment and 1099 Loans
    • What loans are available to me if I am Self-Employed?
    • I am Self-Employed, can I qualify for a home purchase loan?
    • Can Year To Date income be used for loan approval as a Self Employed home buyer?
    • Can I get a home mortgage loan if I am Self-Employed and write off all (or most) of my income?
    • What documents are needed to qualify for a mortgage loan if I am Self-Employed?
    • What is a P & L (Profit and Loss) loan?
    • What is a Bank Statement loan?
    • What is an ITIN loan?
  • Costs and Expenses Breakdown
    • What are the costs that I need to expect to pay outside or before closing?
  • Understanding Credit Scores
    • As a first-time home buyer, what credit score do I need to qualify for a loan?
    • Will my credit be pulled?
    • When should a mortgage lender pull my credit?
    • When should I have my credit checked?
    • Will a credit inquiry hurt my credit?
    • Do multiple credit inquiries lower my score?
    • Why do Mortgage lenders pull three (3) Credit Report Bureaus?
    • How do I increase and/or improve my credit score?
    • Is credit repair good?
    • Does credit repair work?
  • Info on Interest Rates, Terms and Costs
    • What does it mean to lock my interest rate?
    • What Credit Score Gets Me the Best Interest Rate?
    • How long can I lock my rate?
    • When should I lock my rate?
    • What information do I need to lock my interest rate?
    • Do I need a house or be under contract to lock my interest rate?
    • Why is my interest rate different than what I see online?
    • What is the difference between fixed rates and ARM rates?
    • Are Cash Out interest rates higher than regular interest rates?
    • What is a 2-1 Buydown or a 3-2-1 Buydown?
    • What are your interest rates?
    • How many points do you charge?
    • What lender fees do you charge?
    • What are your Private and/or Hard Money Loan terms?
  • Required Paperwork
    • What documents are required for a Personal Home Loan?
    • What documents are required for a Vacation Home Loan?
    • What documents are required for a Private or Hard Money Loan?
    • What documents are required for a long-term Investment Home Loan?
    • What information do you need from me to get started?
  • Homeowners Insurance Explained
    • What is Homeowners Insurance?
    • Why is Homeowners Insurance required?
    • Why do I have to pay 1 year of Homeowners Insurance in advance at closing?
  • Property Tax Information
    • What are property tax prorations?
    • How are property tax prorations calculated?
  • Loan Process Timelines
    • How long is the loan process?
    • How fast can you close?
    • How long is the loan process?
    • How long does it take to close?
    • How fast can I close?
  • Buying a Home Queries
    • What is Option Money?
    • How much is Option Money?
    • What is earnest money?
    • What is the different between Option Money and Earnest Money?
    • How much does a home inspection cost?
    • What is an Inspection?
    • Why is an Inspection needed?
    • What is the difference between an inspection and appraisal?
    • When should I start house shopping and what is the benefit of having a pre-approval letter?
    • How long is my pre-approval letter valid for?
    • What is required to get a home mortgage loan?
    • How do I get a home mortgage loan?
    • How do I get my VA Certificate of Eligibility (COE)?
    • How do I obtain my VA Certificate of Eligibility (COE)?
    • Option Period vs Financing Period
    • Appraisal vs Inspection
  • Income Eligibility Requirements
    • What is DTI or Debt To Income?
    • What impacts and/or affects my DTI?
    • What counts towards my DTI (Debt To Income)?
    • Do IRA Contributions Count as Income?
    • Can I Use My Assets as Income to Qualify for a Mortgage?
  • Other Common Questions
    • Where do I go for closing?
    • Can I close in your office?
    • What is table funding?
    • Where do you lend?
    • What are AUS Findings?
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Blink Lending LLC
615 Heights Blvd.
Houston, TX 77007

713-GO-BLINK / 713-462-5465
[email protected]

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