Provided by Freddie Mac, in this guide, you will learn about one of the most important steps in the homebuying process—obtaining a mortgage. The materials in this guide will take you from application to closing, and they’ll even address the first months of homeownership to show you the kinds of things you need to do to keep your home. Knowing what to expect will give you the confidence you need to make the best decisions about your home purchase.
When you apply for a loan, you typically need to provide quite a bit of information to your lender. This allows your lender to verify your income and assets. Start gathering this information when you decide to buy a home so that your mortgage application processing will go as quickly as possible. This checklist will help you pull together what you need:
The mortgage calculator is a tool made available estimating a sales price and payments that might work for an individual homebuyer. All calculations are theoretical only, and actual amounts may be higher or lower depending on a variety of factors. The calculator was developed by a third-part and accuracy is not guaranteed. To help better address your mortgage payment questions, we recommend contacting one of our loan officers regarding you home loan needs.
Your FICO score is what most lenders use to calculate your credit risk. They use it to decide whether to offer credit to potential borrowers and at what interest rate.
It is made up of 5 elements:
Tips for Maintaining or Repairing Your FICO Credit Score:
To help protect consumers, the Consumer Protection Bureau has developed this toolkit to assist homebuyers in the home-buying process. This publication will help you make the most of your mortgage, and help you decide on the best home loan product for you.
Below are important forms that may be required from you during the home loan buying process. Additional documents may be requested depending on your individual situation. Please contact your loan officer regarding any questions about home loan forms.
“We cannot express our gratitude for Robert's guidance and help in our process of buying our very first home. My wife and I began our search for a new home with the basics such as, searching for homes online with all the new apps and websites and asking a bunch of questions. But who can you trust in today's market? That was our biggest concern. From word of mouth, credible sources, and a credible company we decided to go with Robert. Not only was Robert's 17 years of professional experience very prevalent in his methods and literature, but his transparency and genuine honesty was what made us feel very comfortable with him as our lender. Robert was very diligent and showed his great work ethic from day one! It did not matter what time of the day it was, Robert dropped everything if we had a question to help ensure we thoroughly understood every aspect of the homebuying process and loan application process. We used the FHS loan to purchase our first home, and Robert made sure he gave us every bit of Federal and state assistance possible for our situation. My wife and I are very happy with every decision we made with our loan process thanks to Robert's assistance as our lender. He was impressively knowledgeable in his field and always had an answer to our many questions. He did this all while making it and keeping it very simple, which is what we needed for what was a very stressful process. As far as I am concerned, Robert Martinez is one of the best in the business. I would recommend him to anyone I know.”
“It was good working with him. Robert gave me all the information at all times and any changes he would call me and let me know about the information”
“Robert was great help and he came at the right time becasue thank to his assistance I was able to become a new homeowner”
“Robert was great, he was bale to close my client's deal that another L.O. could not. He saved my deal and went above and beyond my expectations. I will be recommending his services to all my clients.”
We share the dreams of homebuyers and their goal to achieve homeownership. Everyday we turn houses into homes. By providing the right products and quality service, we can ensure you have the right partner throughout the home loan process. You deserve a home. You deserve the right product. You deserve the best service.
Mortgage Financial Services was founded on the commitment to bring a new look to an old industry. Led by seasoned mortgage bankers, we recognized the need to look beyond just the closing of a home loan. We saw an opportunity to improve a process that is often tedious and stressful and have created a company that considers all parties a customer that deserve a dedicated partner. By focusing on the needs of those responsible for expediting the home loan process, we have created an environment that allows the MFS team to prosper and spend more time where needed, servicing the needs of the borrower with their dream of homeownership.
RMLO NMLS ID 186210
2001 LAKESIDE PARKWAY
FLOWER MOUND, TX 75028
O: (214) 675-CASA (2272)
F: (214) 594-9674