Very helpful and easy to work with.
Joshua T Aug 07, 2021
Donny was able to make it happen getting a home when others couldn’t 👍🏻
Lori L Jun 26, 2021
The service was great. Thank you for a smooth transaction.
Marina G May 20, 2021
Donny and team were very communicative and extremely helpful in achieving my financial transaction. There were several documentation issues that popped up and they had means handle and expedite resolutions to complete the closing.
Richard S May 07, 2021
Our entire process was easy and well explained.
Megan M Apr 22, 2021
Everyone bent over backwards to help me out! I am not lucky enough to have had a lot of experience and buying houses so I was grateful for all of the help and patience!
Claribel B Apr 19, 2021
Everything from A to Z
Harbans S Apr 15, 2021
I can always count on them to get the loan done on time without any problems. I have used them for years and will continue to use them.
Charles W Apr 15, 2021
Always a pleasure to work with Donny and his team at Verity Mortgage. I have used them several times for financing and will keep going back!
Bryan R Mar 19, 2021
Donnie and his team kept me informed throughout the whole process. My mortgage transaction went smoothly. Highly recommend!
Eduardo M Feb 11, 2021
Worked with us all the way through the process.
Charles H Jan 10, 2021
Thanks very much for your assistance for helping us through what can be a very stress inducing process.
William D Dec 21, 2020
Offers refreshing customer service from start to finish. Doing business with Verity Mortgage has been a pleasure!
Roxanne M Nov 29, 2020
Gerald R Nov 26, 2020
A pleasure to work with!
Liesel A Nov 02, 2020
Excellent communication and service. Donald and team went above and beyond every step of the way. Thank you so much!
Daniel L Oct 16, 2020
Always easy to work with.
James R Sep 17, 2020
The attitude the team had was like a machine just kept rolling of information need to setup the loan and kept rolling to get the loan closed.. good work
Juan G Aug 28, 2020
Friendly personal service from professionals that are experts in their fields.
William W Aug 27, 2020
Valarie and Cherly were amazingly helpful and professional! The rates and closing costs were also much lower than other competitors. Extremely fast and efficient closing!
Zaccheus M Aug 21, 2020
Timely communication. Expedient work! Accuracy!
Perthelene M Aug 15, 2020
Verity offers an excellent product for investors!
Jennifer M Aug 03, 2020
Very easy to work with and kept me in the loop the entire way!
Jeffery B Jul 30, 2020
I love verity and the gothard family. They are very professional and have assisted me with 4 investment properties. Donny and valerie have always been hands onand super informative during hard money and conventional loans.
Gadiel H Jul 30, 2020
Overall a wonderful experience. Communication was outstanding through the whole process.
Teri B Jul 30, 2020
Communication and responsiveness of the staff! I always knew where my loan was in the process.
Monica W Jul 30, 2020
From start to finish Donald and his team worked tirelessly and went above and beyond all of our expectations! We cannot express how thankful and grateful we are for the work and effort that they put forward in our home buying experience! They are terrific people and treat you more like a family member or close friend than a client. We would definitely recommend them to anyone looking to purchase a new home or refinance.
Jerry M Jul 25, 2020
Very informative and prompt with communication throughout the whole process. When they received all paperwork they were EXTREMELY quick in getting us to closing! We could not have done this without them in our corner. So VERY THANKFUL for this incredible team! We weren’t just a number for them we were people that they cared tremendously about! Absolutely the best during a very stressful time in our life! AMAZING!!!
Sarah M Jul 22, 2020
You and your team made the whole refinance process seamless. Correspondence was outstanding. We never felt alone in the process. They was always someone there to guide us and remind us what paperwork was needed and when. Thank you so much for all of your help!
Shantel G Jul 05, 2020
Valorie was awesome and very helpful. It was a smooth and hassle free process.
Mark K Jun 11, 2020
Thank you for another great experience!
Laurie W Jun 08, 2020
Extremely professional and timely with transactions. Always available to answer questions.
James L Jun 03, 2020
Good communication with the entire team. Explained costs when I had questions. Always responded quickly.
David W May 02, 2020
Everyone was so easy to work with! Great company!
Tammy B Apr 17, 2020
Everyone was great to work with and always provided guidance and education when needed!
Jeffery B Apr 13, 2020
constant updates and ease of communication.
Neil W Apr 13, 2020
Donny and his team provided excellent service and were quick to answer all our questions.
Andrew H Apr 03, 2020
Everything about yall has been great
Christopher L Mar 16, 2020
Such a great experience during such a stressful time!
Rachael L Mar 16, 2020
Great customer service
Christopher C Dec 23, 2019
Cheryl is very helpful and responsive.
Neil W Dec 20, 2019
The Gothard team was very knowledgeable and answered all my cash out refinance questions. The loan process was very smooth and easy.
Oscar G Dec 11, 2019
Excellent communication and timing!
Fred A Dec 10, 2019
The team was very responsive to all my questions and concerns.
Benjamin N Nov 18, 2019
The team met their commitments and made the process smooth. Also what was agreed was delivered.
Michael M Oct 08, 2019
Have worked with Donny and Valerie on practically all my SF mortgage needs. Always a pleasant experience!!
Roberto T Sep 23, 2019
Donny was great as usual! Wont go anywhere else!
Christopher L Sep 11, 2019
Communication and expectation management are great! They keep their promise and no negative surprises along the process’s
River X Sep 06, 2019
Donny and his team are extremely professional and do an outstanding job communicating and answer all of our question. We highly recommend them for you mortgage needs.
James L Aug 29, 2019
Professional and courteous services. Quick response to questions and an easy process! We will use your service again!
Michelle L Aug 29, 2019
Very smooth transition as always.
Jennifer D Aug 15, 2019
Great communication and simple process! Great team!
Fred A Aug 15, 2019
Donny answered all my question promptly. No questioned were left unanswered. The process was so easy and constant communication helped me during the process.
Elena C Aug 07, 2019
Friendly and informative services conducted as true professionals.
Gary R Jul 21, 2019
very quick to respond with answers to my questions. Friendly service from Valerie and Arlene
Neil W Jul 17, 2019
Clear and quick communication. Detailed explanations of loan products. Very attentive during entire process even while we were traveling with limited access to phone and internet. Efficient solutions to our complex transaction. Friendly group always willing to answer questions. Funded within hours of signing! Thank y’all so much Team Gothard!
Belinda O Jul 03, 2019
The speed of the process was great
Laurie W Jun 18, 2019
Donnie and his team were there with us every step of the way on a very fast close. Helpful and responsive he has built an all star team. Highly reccomend.
Don S Jun 17, 2019
Quick communications both verbal and electronic. Easy signing through docusign. Answers questions whenever I have them.
David W Jun 04, 2019
A great experience all around. Donny and Valerie were very responsive to questions and they were quick on getting our house refinanced.
Corazon B May 31, 2019
Miscommunication to begin with but made up with smooth processing and timely communications. Made an 11th hour proposal that saved me thousands to the table for closing.
Arthur V May 31, 2019
I am super busy and Donald and his group kept up with me more than i could keep up with them. Always pleasant and knowledgeable answering all my questions along the way..
Simon C May 18, 2019
Easy to use and timely communication.
Stephen W May 13, 2019
Donnie and his wife were a pleasure to deal with and took care of everything in a timely manner. By far the easiest home buying experience I have had dealing with a lender. Highly recommend!
Cody C May 06, 2019
We love working with Donny and his team. He is always available to answer questions about finance or even rental property in general. He and his team are the very best!
Michael A Apr 26, 2019
His team was polite and professional throughout the process and always answered the phone when I would call.
Johnnie F Apr 23, 2019
The team made the whole process of buying my condo go smoothly. They were very helpful.
Pamela M Mar 06, 2019
The entire team at Verity is the reason I continually look to them for all my mortgage needs. They have been my lender for all my investments. The professionalism and attention to detail gives me the assurance that they have my interest first and foremost.
Monte M Jan 31, 2019
keeping me up to date
Neil W Jan 30, 2019
He took time to explain everything in person.
Roger R Dec 23, 2018
Solid cast communication. Explained each step of the process. Addressed all my questions throughout the process.
Jason D Dec 17, 2018
The friendliness of your staff. The helpfulness of answering questions
Glenn M Dec 07, 2018
Donny and his team are very responsive and you feel like you matter to them.
James L Nov 29, 2018
Went above and beyond to make this the best experience ever purchasing. Will and already do recommend to everyone!!!
Vincent B Nov 19, 2018
Made the process easy
Lowe S Oct 27, 2018
Donny and his team were very helpful in helping me refinance an investment property. His team communicated quickly and often to move the process along.
Gobert N Oct 18, 2018
Thank you very much to Verity Mortgage. The dream of a home was thanks to the formidable team of Verity Mortgage. They worked in a professional and accurate way to make this happen. Thank you again.
Ruiz A Oct 04, 2018
Verity provides outstanding service from beginning to the end with its customer service. I have used them for all my loans.
Mabry M Sep 04, 2018
closing coordinator was very attentive and quick to respond.
Wong P Jul 26, 2018
Donald was communicative with me through the entire process. He answered all of my questions with confidence and was able to give me information quickly. He and his staff did what they said they would do without procrastination. It was fantastic and assuring to work with such professionals. I look forward to working with him and his staff again.
Campbell C Jul 21, 2018
Put in the extra effort to make difficult situations work out perfectly. Appreciate your hard work to make everything go smoothly!
Rowlen E Jul 02, 2018
After spending six months and using three other mortgage companies that could not get me a loan Donny and his team of super professionals got me a loan in record time. I am so thankful to know and work with Donny as he has allowed me to continue on my quest of purchasing more properties as I thought I was at a dead end. Thank you Donny and your team members.
Finch D Jun 17, 2018
The Gothard team bends over backwards to help their clients with anything! They were available at a moments notice for a first time client and helped guide me through the process and exceeded every expectation from beginning to end!
Grant A May 31, 2018
Everyone was very helpful and pleasant.
Deaton M May 25, 2018
Generous with information during the process. A great depth of understanding in the field allowed me to make informed decisions with confidence. And very pleasant group of people.
Owens B May 05, 2018
Everything was fast and easy.
Perry B May 02, 2018
When other companies gave me problems about refinancing my rental property Gothard personal made me feel relieved that they have seen situations similar to mine. My type of work is different then most and convitional banks just didn’t get it. Gothard understood my situation and made the refinancing extremely smooth even though I was nervous this would be another bank that could not make it happen. I will be using them again in the near future and hope to speak with Jodie and Debra on my next one
Reagan J May 02, 2018
I have used The Gothard Team for many of my investment properties over the past year. The service has been outstanding. They are very knowledgeable and efficient at getting the loan process completed from start to finish. I will definitely be using them in the future.
Gibson D Apr 19, 2018
Constant Communication and hand holding. Letting me know what was needed with enough time to plan and get into action. Letting me know upfront how things were going to happen.
Dravis M Mar 28, 2018
Donnie and Valerie were always willing to explain things to me
Woody N Mar 23, 2018
Everyone was very helpful and knoledgeble and professional
Buslovich I Feb 28, 2018
Quick and comprehensive response to any questions I have as well as being on top of the paperwork. Closing was on time if not quicker.
Vo N Feb 15, 2018
Oommen S Jan 24, 2018
Dealing with Verity Mortgage over the past year has been a great experience on all of my loans. The professional staff pays close attention to every detail. They have made it a very simple process from initial contact all the way through closing. There has never been any delay and I would highly recommend their services for all your mortgage needs.
Monte M Dec 18, 2017
Communication and very efficient. Always very pleasant working with this team.
Adam R Dec 05, 2017
the way you have everything setup for Valerie to take over and roll to a conventional loan is great. what a smooth process. and the communication was amazing. I never felt lost or out of touch.
Jared B Nov 01, 2017
It was great!
Gary R Oct 31, 2017
The entire process from start to finish was clear and efficient. All communication to and from the office were handled in a timely and professional manner. I will definitely use the company again and refer friends and family.
Damon G Sep 28, 2017
see you on the next one
Lori L Sep 25, 2017
We want to make your home financing as easy as it can be. With Verity Mortgage, you can relax while we handle the details.
You can get a loan before you even select a home. A Verity home mortgage specialist can perform a pre-qualification or pre-approval so that you'll have a good idea of how much you can afford. Once you've found a home, and a seller has accepted your offer, you are ready to move to the Application process.
- You will know the loan amount you qualify for so that you know what home price range to shop
- Save time to narrow the list of homes to ones that fit your price range
- Discover any credit challenges early in the process we can resolve them at the beginning of the process
- Confidently make an offer as soon as you find your dream house
- Sellers will consider your offer more strongly with a prequalification letter over one that is not
- Your agent will ask for this as it improves your chances of getting the house you want
There are no fees or costs to getting pre-qualified, but it is a vital step in the home buying process. Call us today!
Prequalification: This is an overview of your credit profile that is an important step to writing offers for new homes and one we highly recommend. It just means that you have not submitted the documentation that will be required to verify your income, financial statements showing enough assets to close and you have not yet met the underwriting guidelines of the program you are going to select once you find the home of your dreams.
Preapproval: If you have a little more time at the beginning of the process, we always recommend getting Preapproved. A preapproval is the start of the formal application process before you find the property and is more thorough review of your financial position and ability to qualify for a home.
Why get Preapproved for a Mortgage?
- You’ll be able to move faster to find the house you want
- Most of the paperwork will be out of the way so you can close your loan faster
- You will be able to move to the top of the offer stack as your income, assets, and ability to buy has been verified
- Sellers know you will be less likely to have a delay in closing
- In competitive markets, this is another feather in your cap
Buying a house is one of the biggest decisions you will make in your lifetime. Our goal is to make the process as smooth and hassle-free as we can. Understanding the process will give you the knowledge you need to get started.
- Step in Getting Prequalified or Preapproved
You can get a loan before you even select a home. One of our home loan experts can perform a pre-qualification or pre-approval so that you’ll have a good idea of how much you can afford. Once you’ve found a home, and a seller has accepted your offer, you are ready to move to the Application process.
Once you’ve selected a home, your home specialist completes the mortgage application, gathers information about the property you want to buy, and collects personal information, such as income, assets, and employment history. For a complete list of information that you need to provide, see the Application checklist.
Once your application is complete, a loan processor reviews your file and verifies your information. We order a credit report to determine your credit history and credit score. We also order an appraisal of the property.
An underwriter reviews your file and determines whether your loan will be granted and issues the loan approval. The underwriter may request additional information during this review process.
Once the loan is approved, the closing process begins. Our closing department prepares closing documents and sends closing instructions to the title agent. The title agent is responsible for examining the title of the property and working with you for an acceptable closing date. At the closing, you’ll sign papers, pay closing costs, and finalize the transaction. Now it’s time to move into your new home.
Lower Payments*. Consolidate Debt. Pull Cash Out.
*By refinancing your existing loan, the total finance charges may be higher over the life of the loan.
First, start by asking yourself one of these questions.
Has your income increased? Do you need to consolidate debt? Has the equity in your home increased? Do you need money for a major expense? Has your credit rating improved?
If the answer is yes to any of these questions than we encourage you to call one of our home loan experts to give you a refinance evaluation. It costs nothing but could save you thousands of dollars in interest, pay off high balance credit cards, or help pay for college or unexpected expenses.
Knowing your options is the most import part of the refinance decision so Call us today!
As you pay down your mortgage or as home values increase over time, a cash-out refinance allows you to use a portion of your equity and turn it into cash. The great news is you can use that cash however you want. Home improvements, unexpected expenses, college tuition or just to check a destination off your bucket list.
When is the best time to turn that equity into your house and use it as you see fit? That answer is up to you and can be used to fit your current needs.
Some of the more chosen reasons for utilizing a cash-out refinance are to:
- Remodel of you home
- Pay off high-interest credit cards or auto loans, neither of which is tax deductible like mortgage interest
- Help with life events like a growing family
- Bucket List Reduction
- Elimination of student debt
A renovation loan will let you do almost anything with your home. Some loans are used on smaller projects like ordinary repairs or cosmetic updates. These types of renovations loans typically don’t have minimum loan requirements for the repairs or upgrades you want to make to your home. These loans are limited to non-structural repairs with maximum loan amounts around $30,000.
With these types of loan, you can improve things like:
- Repairing or replacing your roof and gutters
- Redesigning your kitchen or bath
- Landscaping or adding a deck
- Buying new appliances
- Getting new windows, doors or floors
- Making your home energy efficient
- Upgrading plumbing, electrical, heating or cooling systems
- Ask a home loan expert (bolded and hyperlinked to find a loan officer)
Need to do more extensive renovation? We got you covered!
We have other programs that are specifically intended to make major repairs or changes to your home. These will have a minimum loan amount but the good news is you can borrow up to the value of your property plus repairs/renovation. Here are some examples:
- Room additions or adding a second floor
- Major remodeling that requires structural work
- Foundation or other structural repairs
- Projects over six months
You don’t have to settle for a house that only has half of the items on your wish list. With renovation loan you can buy in the perfect neighborhood and then get all the items on your list without coming out of pocket. This loan allows you to combine the purchase price of the home and the cost of repairs and upgrades into a single mortgage. No second lien at a higher interest rate required. Other benefits include:
- Get a home in a great location below market price
- Getting a bargain on a home allows you to move to a higher priced area of town
- Get more bang for the buck with a larger home
- Opens up your search area
- Your home fits your taste and family requirements
A remodeling home loan allows you to make your current home into your home for the future. These types of loans allow you to roll the costs of the work you do into one new mortgage. No second lien required, most likely at a higher interest rate. Since this is a refinance, you can also capitalize on lower interest rates, move to a shorter loan term and possibly lower payments.
A fixed-rate mortgage offers an interest rate that is steady throughout the life of the loan. Fixed-rate mortgages offer the security of always knowing exactly what your monthly loan payment will be. The interest on ARMs can fluctuate (up or down) periodically. The interest rate on ARMs offers an opportunity to save on interest costs. However, you are protected from rates getting too high, because a safe ARM has annual and lifetime rate caps, which limit how high your rate may go.
This a decision you must make. Here is one way of looking at the question: If you can afford the payment and are comfortable with all the other terms, it makes sense to go ahead and firm it up IN WRITING. Do not be overly concerned if rates fall after you lock. If your objective is to purchase the property, you have eliminated one uncertainty. If you are refinancing, locking the rate guarantees that you will reduce your monthly payments or be able to obtain cash you need for home improvements or other worthwhile goals.
You can lock your rate at application, while your loan is being processed and approved, or any time shortly before closing.
Verity Mortgage offers lock periods up to six months on some loan programs.
PMI is required for conventional loans with a down payment of less than 20th of the value of the home. You can avoid paying PMI by making a down payment of 20 or more of the value of the property you want to buy.
PMI will be automatically terminated when the loan-to-value ration is scheduled to reach 78 assuming all payments are current. Borrowers can request cancellation of PMI when the loan reaches 78 assuming all payments are current. Borrowers can request cancellation of PMI when the loan reaches an 80 loan-to-value ratio, assuming the loan is current.
How do I know whether the house is in a flood zone, and if so, how can I determine my insurance premium?
Verity will order a flood certification before loan closing, as required by federal law. However, if you would like to find out if the property you are purchasing is in a flood zone, you can contact your insurance agent or check the local library for updated flood maps. FEMA determines flood risk by comparing your lowest floor level to flood levels from the past 100 years. FEMA bases flood insurance premiums on this information. You may need to get a slab elevation if you are unable to obtain this information from the seller or your local permit office
Annual Percentage Rate (APR) is a calculated interest rate that reflects the overall cost of a loan on an annual basis. APR includes interest payments, origination fees, discount points, and other specific costs of getting a loan and is, therefore, usually higher than the interest rate. APR can be useful for comparing different types of loans. However, while all lenders are required to calculate APR based on guidelines provided by the Truth in Lending Act, not all lenders include the same costs in the calculation. This can make it difficult to compare the APR for loan programs from different leaders.
Points, also known as “discount”, are funds paid at closing so that you can get a lower interest rate for the life of the loan. For example, you may be quoted a rate of 7.375 with 0 points or 7.000 with 1 point. One point is equal to 1 of the mortgage amount.
Closing costs are expenses paid, by both buyers and sellers, at the closing meeting. Closing costs include pre-paid taxes and insurance, discount points, origination fees, title insurance, and other fees that may apply to your loan.
Pre-paid items are hazard/homeowners insurance, taxes, and pre-paid interest. Most insurance is paid in advance, so you will be required to pay for your homeowner’s and flood (if required) insurance policy for the first year in advance. Also, the lender will require you to make a deposit of up to 2 months of payments in order to establish an escrow account.
Many loan programs require that the lender pay the taxes and insurance on behalf of the borrower. Your loan officer can determine if the option to pay taxes and insurance yourself is available on the loan program that is best for you.
MORTGAGE PAYMENT CALCULATOR
Estimate your monthly mortgage payment using the calculator below. Simply enter the purchase price of the home, loan term, and details about the home loan. Please note that escrow for taxes and insurance is not required for loans with down payments of less than 20 percent. Some of this information may be difficult to determine on your own; please contact a mortgage specialist to review the most accurate monthly mortgage payment for the area you are purchasing.
Types of Loans
Streamline 203K: This is for projects where total renovations do not exceed $35,000. It is more for minor changes like upgrading HVAC, paint, fixing or replacing roofs, patios, septic systems or remodeling a kitchen. It does not allow for structural changes like foundation work.
Full 203K: This for projects that need to be more expansive in nature and may go over $35,000 in total renovations. It can be used for all the repairs from a streamline, but you can also make structural changes and reconstruction, repair or replace plumbing or use it to improve energy conservation, safety or disabled accessibility.
This is a great option when buying a home that needs a little TLC or you want to make your current home into your forever home.
What can a Homestyle Renovation help with?
- In-ground pools
- Interior and exterior upgrades
- Kitchen or bathroom upgrade
Program Flexibility: Conventional loans allow for different terms and down payment. Meaning you can customize your down payment, whether you have a first and a second or if you want to do one loan with Mortgage Insurance.
Program Flexibility: Conventional loans allow for different terms and down payment. Meaning you can customize your down payment, whether you have a first and a second or if you want to do one loan with Mortgage Insurance.
Loan Limits: Conventional loans are capped at a maximum loan amount of $453,100 for single-family homes unless the property resides in a High-Cost Area of the United States.
Second Liens Permitted: Another difference between conventional loans and the other programs is the ability to add a second lien to assist with down payment requirements. This also is a good option when buying a higher price house and need to go above the maximum financing amount in a non-High-Cost Areas.
Loan Limits: Loan amounts starting at $548,250 or $822,375 for home loans in high-cost areas of the U.S and loan amounts to $3,000,000 and above
A VA home loan is a great benefit to military personnel during and after their service. Thank you for your service and sacrifice for our country.
No Down Payment: A VA home loan comes with 100% financing. Contact one of our home loan experts for more details.No Mortgage Insurance: Unlike USDA a VA home loan does not have monthly or annually mortgage insurance.
Certificate of Eligibility Required: In an effort to make sure we use your Veteran Benefits properly borrowers must obtain a Certificate of Eligibility . The VA Benefits portal will be able to help you find this information or contact us and we can assist you in getting the info.
Low Down Payment: FHA loans are great for first time home buyers or home buyers that are working with limited down payment. A down of 3.5% is all that is required and can be a gift from a relative.
Flexible Income Requirements: The original goal in 1934 for FHA loans was to make home ownership possible. One way the program does that is by allowing for more flexible income and credit guidelines.
Loan Limits: FHA does have different maximum loan sizes by area. To learn more click on here to see what the Loan Limits are in your city.
No Down Payment: The USDA loan comes with 100% financing. A down payment is not required which can be an obstacle to homeownership.
Low Monthly Mortgage Insurance: The upfront insurance rate on a USDA is generally lower than VA or FHA. It also has one of the lowest annual mortgage insurance fees. Other good news is the upfront fee can be rolled into the loan, eliminating an out of pocket expense at closing.
Only available in certain geographic areas: To get a USDA loan, the property you buy has to be in a USDA designated rural area, but that does not mean it is necessarily farmed land. Over 90% of the U.S. is eligible, which includes small town and suburbs. The USDA Mortgage Eligible Map will show you all the areas where you can use this loan.
Income Limits: The USDA loan was originally designed for low to moderate-income families. The guidelines for USDA define income level as being 115% of the area’s median income. This income amount if very different in different parts of the country and can be very different in certain areas of a state. Please contact one of our home loan experts to learn more.
- Fixed Rate and Adjustable Rate
- FHA, VA, and USDA Loans
- Jumbo and Conforming Loans
- Conventional Financing
- Renovation Loans
Special Programs for Non-traditional borrowers also available
100% YES! This one decision will make the home buyer process go much more smoothly. The pre-qualification process is simple:
- Gather your personal financial information such as bank statements, W-2 forms and paycheck stubs, and meet with your Loan Officer.
- We will pull your credit report and evaluate your financial documents. With this information, you and the loan officer are able to discuss the best home financing options that will help you achieve your financial and homeownership goals.
- Once you are prequalified, we will give you a prequalification letter to inform your real estate professional and the seller of the property that you’re a preferred and serious potential buyer. This will give more weight to any offer you extend on a property as well as allow you to relax and enjoy the process of looking for your new home.
- How long will you live in this home? Several years, or just a few?
- Do you anticipate your income or finances to significantlychange over the next few years? Do you anticipate significant changes to your income or finances over the next few years?
- Are you either comfortable or uncomfortable with an adjusting monthly mortgage payment? Have you considered an adjusting monthly mortgage payment?
- Do you plan to be out of mortgage debt by, for example, when your children start college or when you retire?
Based on your answers, your home loan expert can discuss different home loan programs that will suit you financially and help you reach life’s milestones.
An FHA loan, on the other hand, is guaranteed by the Federal Housing Administration. FHA is a government agency that works with approved lenders like us.
Typically, origination points are applied and disclosed at the time of locking in an interest rate. On the other hand, discount points can be added at the time of lock or later in the process if you choose to pay to reduce your interest rate.
Origination fees are the fees required to originate the loan. They can include processing fees, underwriting fees, administrative fees, and several others. One of our Loan Officer can give you a complete breakdown of these fees as they vary from state to state.