Don't Take a Chance

on Homeownership

How much do I need for a Down Payment?

Currently there are loans available that only require 1% and 3% for down payment. The standard is 3.5% for FHA and 5% for CONV loans.

How long does it take to get a Mortgage Loan?

This is not a simple answer. A home purchase transaction can take as little as 8 days. Most purchase contracts are written for 21-30 days, depending on the situation. A refinance cannot be less than 12 days. Please reach out with questions regarding your specific situation.

How much are Closing Costs?

These can be between 2-3% of the purchase price. Closing Costs are NOT included in the Down Payment amount.

Does my credit score matter?

In order to qualify for a standard mortgage loan, the middle score from the three credit bureaus is used. This score is referred to as your FICO score. The three bureaus are Experian, Equifax, and TransUnion. A median FICO of 580 is required for FHA loans. A median FICO of 620 is required for CONV loans.

Perfect credit is NOT a requirement. Also, my team and I can help with some simple tips to raise your credit score. Please reach out with any specific questions regarding your credit situation.

I'm self employed. How does that affect things?

A borrower in most cases must be self-employed for two years. There can be exceptions. Please reach out for your specific situational questions.

Does my length of employment matter?

You must show two years of work history. There can be exceptions. Please reach out for your specific situational questions.

What is mortgage insurance?

Mortgage Insurance is a policy that protects investors or lenders in the even of default on a mortgage loan.

Do I have to pay you to help?

The service of the lender comes with no out of pocket cost to the borrower.



92 Piazza Ln Suite 100
Colleyville TX 76034