Richard Woodward | (214) 945-1066

What is a Reverse Mortgage and how does it work?

What is a Reverse Mortgage and how does it work? A Reverse Mortgage is a mortgage specifically designed for those 62 years of age and older who want to have more control over their mortgage and their assets. It is similar to an FHA mortgage but with lots of extra options and protections. They are easier…

Home Care for Seniors or those in need. An Introduction

Home care for Seniors or others in need is a topic near to my heart. I work with seniors often in the course of my reverse mortgage business. I am so thankful to be able to help our elders with financial resources to stay in their homes. I am a firm believer that as long…

Why A Reverse Mortgage Does Not Cost To Much

Many critics will tell you that a reverse mortgage cost too much. Mind you, most of those critics have never studied reverse mortgages and are relying on misinformation to form an opinion. I wanted to share with you some great information provided by Wade D. Pfau, Ph.D. Wade D. Pfau, Ph.D. CFA, is a professor…

Getting a home loan can sometimes be pretty challenging. You have to complete an application, your credit report has to be pulled, and then you must supply documentation to back up the information on your application. The difficult part then begins. Underwriting. Underwriting is when a person charged with approving your loan must review all…

Service First Cares C. O. P. S. initiative

We are excited to announce our 2017 Fall Cause. Service First Mortgage is again partnering with Concerns of Police Survivors (C.O.P.S.), a non-profit which supports the family and friends of police officers who have died in the line of duty. In recognition of the tremendous sacrifices that all of our heroes in blue make to…

We have the best Jumbo home loan options

Are you in the market for a Jumbo home loan? I have the best home loan for you. A jumbo home loan is defined as a loan whose loan amount exceeds the Fannie Mae conforming loan limit. In McKinney Texas, the conforming loan limit is $424,100. The Richard Woodward Mortgage Team is well versed in…

Reverse Mortgage Myths Debunked | What you should know

Reverse Mortgage Myths are very common. At Service First Mortgage, we’re committed to making sure you receive honest and accurate information about reverse mortgages so you can make an educated decision that’s best for you. Here are some of the most common misconceptions about Home Equity Conversion Mortgages (HECMs)— also known as reverse mortgages— and…

I think this article from Realtor.com is really good for all home buyers to read. 10 Crucial Real Estate Contract Terms Home Buyers Should Know Before They Sign By Margaret Heidenry | Jun 1, 2017 Article from realtor.com If you ever attempt to read a real estate contract, you will quickly find that this paperwork…