TBD Approvals

TBD Approvals


Wright Mortgage offers an innovative new loan program to homebuyers – before they find their home!




We can complete the loan process – actually approving your buyer – without an identified property.

With TBD Approvals, buyers have the confidence that they have already been approved for their mortgage which means their buying power is improved:

  • Sellers know the loan process has been completed so there is no worry that the sale won’t close.

  • Buyers can negotiate a good purchase price because they know they can close quicker than with a traditional loan process and they can offer the seller an assured closing


How does it work?

  • The buyer completes a mortgage loan application with Wright Mortgage, providing us with all of the information needed for a mortgage loan – except for the address!

  • We process the loan and, upon approval, we’re ready to close once the property is identified.


Who is eligible for this program?

  • Those mortgage loan borrowers who have challenged credit or very high debt to income ratios.

  • Your clients are available for both FHA insured mortgage loans and Conventional mortgage loans, people who have excellent credit or people who is below 640 credit score and consider below average credit.

  • Qualify more borrowers with credit challenges to achieve the American Dream.

* Enjoy the peace of mind REALTORS of driving your clients around town with the mortgage loan already approved!


Down Payment Program

■A simple one-step process, so
we do all the coordination; there is no third party for
you or the borrower to engage with
■ DPA is a grant equal to 2% of purchase price
■May be combined with up to 6% seller concession for
closing costs
■ No resale or borrower repayment restrictions
■ Minimum qualifying credit score: 580
■ Can be used with the FHA 203(b) program or any of our
FHA renovation programs
ELIGIBLE BORROWERS (Any one of the following)
■Total borrower’s income is equal to or less than 140% of median
area income
■ First-time home buyers
■ Any borrower on the loan application who is a current, retired,
volunteer, or non-paid:
– First-responder: police officer, firefighter, public safety officer,
paramedic, or emergency medical technician (EMT), including
volunteers or similar
– Educator
– Medical personnel: nurse, doctor, phlebotomist, or health
ambassador, or hospital, American Red Cross worker, or similar
– Civil servant in a federal, state, or local municipality
– Military personnel

Portfolio Lending Programs

Wright Mortgage has enhanced the Fresh Start loan.

Part of our Portfolio Lending loans, Fresh Start now features several, borrower-friendly features:

  • A lower down payment requirement – 85% LTV with no Mortgage Insurance (MI)
  • No seasoning requirement for derogatory events, including Chapter 7, 11 and 13 bankruptcy; foreclosure, deed-in-lieu, short sale and pre-foreclosure
  • Multiple significant derogatory events allowed
  • No mortgage/rental payment history required

Help more borrowers realize their dreams

Designed for borrowers who can demonstrate the ability to repay, but may not qualify under more traditional guidelines, Fresh Start features and benefits include:

  • Loan amounts from $100,000 to $1,000,000
  • Primary and second homes
  • No pay history requirements
  • Minimum 580 FICO score
  • Financing for a variety of property types
  • Maximum 50% DTI

Discover Wright Mortgage


Call 832-647-5985

To learn more, contact me today!

FHA Limited 203(k) Rehabilitation Mortgage

Help Your Clients Add Enjoyment and Value to Their Home with Upgrades or Remodeling
Some buyers shy away from older homes, properties that are outdated, or houses in need of repairs. In the 2015 report on Home Buyer and Seller Generational Trends from the National Association of REALTORS® the following reasons were given by home buyers when asked why they chose to purchase new homes:

·     40% wanted to avoid renovations or problems with plumbing or electricity

·     24% preferred the ability to choose and customize design features

·     10% saw a lack of inventory of previously owned homes

Contrast this to the top reasons given by buyers of previously owned homes:

·     32% listed “better price”

·     32% indicated “better overall value”

How many of your clients are aware that the FHA Limited 203(k) Rehabilitation Mortgage could open up the best of both worlds?

Program Highlights
·     All-in-one loan used for minor non-structural repairs

·     There is no minimum requirement for repair costs

·     Can be combined with the FHA Good Neighbor Next Door (GNND) program

·     Max completion time: 90 days – IMPROVE Instead of Move!

New Downpayment Assistance Program!

New Downpayment Assistance Program!

image Wright Mortgage has a new program that provides up to 3% in down payment assistance, in the form of a non-repayable grant for FHA, VA and USDA 30-year fixed mortgage loan only. There is no repayment associated with this down payment assistance program.

The grant program may be applied against the borrower s down payment, closing costs and prepaids. This is a regular FHA loan but a new down payment assistance program.

The loan must be a owner-occupied home and the borrower must not own any rental property.


  • 4% DPA- FHA, VA & USDA
  • 3% DPA – Conventional (Fannie & Freddie)
  • Program Requirements Income limits restricted by county
  • Minimum Credit Score: 640 minimum
  • Purchase price maximum Government – $250,200 Conventional – $324


There’s no doubt about it – negotiating takes both finesse and confidence. It’s not for everyone, especially those of us who are passive. But when the times comes to purchase a new home and you’re sitting across the table from a home seller, buyers meek and confident alike must be able to hold their own in a negotiation. A skilled realtor can certainly help, depending on what’s on the table. Either way, the cost of backing down too soon could be too much to bear, literally.

  • Closing Costs

Not always negotiable fee-wise, but if the seller can pay them, see that they do. Transferring the cost to the seller will take a hefty up-front expense off of your loan.

  • Points

Buyers can have these point fees transferred to the seller, reducing the cost of the loan. Even when a seller pays these points, the borrower can still deduct them from their taxes.

New FHA Down Payment Program

New FHA Down Payment Program


The down payment program is a great program if you need funds for down payment for that new home. If you qualify for the program, you will be eligible to receive funds to cover a portion of your required down payment amount. The maximum amount of funds you can receive under the program is 2% of the purchase price of the home being purchased; you will still be required to pay any remaining amount of the required down payment yourself or with a gift from a family member.

  • One program used for all types of borrowers, with the same qualifications
  • Completely forgivable grant, equals 2% of purchase price
  • May be combined with up to 6% seller concession for closing costs
  • No resale or borrower repayment restrictions
  • No underwriting fee


For example, if you are purchasing a home with a purchase price of $150,000, the maximum amount of down payment assistance you can receive under the program is 2% of $150,000, or $3,000. If the required down payment amount is $5,250 (3.5% of $150,000), you would still be required to fund $2,250 yourself, or from a gift from a family member.

Income Restrictions:

The Borrower’s income (or, in the event of multiple Borrowers on a loan application, their income collectively) is equal to or less than 140% of the state or county median income regardless of family size based upon the state or county where the Security Property is located.
• Here is a easy link to verify your eligible income: State/County Median Income Tool: https://homeready-eligibility.fanniemae.com/homeready/


Homeownership Education Class

• The Borrower must complete homeownership counseling
(Homebuyer education course or Pre-purchase counseling course) offered by an entity of the Borrower’s choice which is approved by HUD/FHA, either online or in person. The cost of the course shall initially be paid by the Borrower (by credit card if they so choose), which the Lender shall credit back towards closing costs (up to $100) at the closing of the loan.