The home buying process can seem intimidating at first, but we are here to make sure that it goes smooth and straightforward for you.
Getting started is as simple as filling out our quick and secure Free Quote form or give us a call.
Prequalifying is important because it gives you an estimate of how much home you can afford and what the monthly payments will be. This takes about 15 to 20 minutes and can be done over the phone, online, or in person. Once completed we can provide you and your Realtor with a Conditional Qualification Letter, which you can present with your offer to let the seller know you are serious and ready to purchase.
During this time you and you realtor can start the search for homes in the price range that you have been qualified for. We will get all the necessary documents from you and start the underwriting process for your Dallas mortgage.
It's time to structure an offer and negotiate a contract with the seller and to get the home under contract. This is a crucial part of the process because the seller is allowed to pay 4% or more of the sales price plus the title policy in most cases. If the contract is structured properly you can have very little closing cost out of pocket at closing!
During this time the home inspections and appraisal will be ordered. The loan will be processed and underwritten. The underwriter's job is to ensure that all the guidelines for the paticular loan have been met.
Once we recieve a Clear to Close from the Underwriter, the loan file will go to the Closing Department for the attorneys to draw the documents that you will sign at closing.
The closing will usually take place at a Title Company, where you will sign paperwork to finalize your new loan.
Two forms of identification. Cashier's Check (if required) for the funds that are needed to close, made payable to the title company.
This is the best choice if you’re looking for a consistent long-term, stable loan. Fixed-Rate Mortgage means that the payment (principal & interest) will remain constant and throughout the entire life of the loan. Regardless if interest rates go up or go down your payment will remain the same. However if rates do go down you can usually refinance into that lower rate.
Fixed-Rate Mortgages are from 15 year to 40 years in length and the only thing different is the term (length) of the loan. The shorter the term equals a higher payment but also will cost you less in the total amount of interest that you will pay over the life of the loan.
An adjustable-rate mortgage (ARM) means that the interest rate changes over the life of the loan — according to the terms specified in advance.
With an ARM:
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Every client's situation is different and handled with a unique, personalized approach. As a Mortgage Broker serving Dallas, Texas we focus on getting the right loan at the right rate for our client and it allows us to secure often hard-to-find financing.