Jamie and her staff Virginia and crystal are so efficient and thoughtful. They made process go smoothly. We appreciate all they did for us to make the move happen.
David S Nov 08, 2022
Everyone was great ! They made the process smooth sailing! They were a great team! Thank you all!
Wysheka J Nov 01, 2022
Jamie and staff are very gracious and detailed Virginia and crystal were always helpful.
Thank you for a wonderful experience
Constance S Nov 01, 2022
Jamie is the best at her job. She is very knowledgeable at what she does. She makes the process less stressful.
Jason T Oct 11, 2022
Jamie and her team went above and beyond to make sure everything went smooth for us when it came time for us to close on our new home.
Galo R Sep 23, 2022
The whole staff that we dealt with!!
Richard J Sep 15, 2022
Everyone was so nice, helpful and knowledgeable
Amara M Sep 14, 2022
Jamie and her team are simply amazing. I will be recommending them to anyone I know that needs their wonderful services.
Tanya J Sep 14, 2022
Extremely pleasant to work with and very efficient. The whole process was a breeze. highly recommend!!
Corey J Sep 14, 2022
I was always able to get immediate answers to any questions that came up and Jamie and everyone else I came into contact were helpful and so kind!
Amanda C Sep 14, 2022
Very easy to work with everyone.
Tyler P Sep 14, 2022
Jamie Abbott and the entire team at Prosperity Mortgage are amazing at what they do. They made the process easy with their knowledge and helped in informing us throughout the entire process.
Amelia S Sep 11, 2022
Jamie and her staff was fantastic to work with.
Austin V Sep 08, 2022
Sun R Sep 07, 2022
Jamie is one of a kind, she is amazing and an extreme pleasure to work with during this process.
Todd B Sep 07, 2022
Knowledgeable staff, wonderful to work with.
Kelly B Sep 01, 2022
Jamie and her team are amazing! From the time we started looking until we closed, they made sure that we were taken care of. I would recommend anyone to use them!
Adam M Aug 24, 2022
So helpful and attentive to our needs!
Laynee H Aug 20, 2022
Very personable and knowledgeable!!
Monica W Aug 11, 2022
Jamie was awesome! Very friendly and was great responding to any questions or concerns I had. It was a pleasure working with her. Jamie and her team are 5 star in my opinion!
Tyler O Aug 07, 2022
Professional prompt easy peasy great to work with
Alan W Aug 07, 2022
Jamie is simply awesome! Makes everything easy and as seamless as possible.
Joseph L Aug 02, 2022
It appears Customer Service is a priority at this company‼️
Deborah S Jul 31, 2022
Jamie is incredible, I have done several deals with her and wouldn't use anyone else!
Josiah G Jul 27, 2022
Jamie and her team were nothing short of AMAZING to work with on our first home purchase. They explained everything in basic terms for us to understand and gave us tips on what to watch for from the builder etc.. Not just a loan office but a true partner in the process of purchasing a home! Thank you Jamie and team!!
Jeff L Jul 12, 2022
The entire team was wonderful. We're very grateful.
Sandra W Jul 10, 2022
Communication and the feed back.
Kevin D Jul 05, 2022
The open lines of communication with the whole office team! Everyone was so sweet, efficient and easy to talk to. The home buying process is stressful and I never broke a sweat!
Alyssa M Jun 28, 2022
This is our second time to use Jamie and her team. They are thoughtful and hardworking. We always got prompt responses when we had questions.
Christina G Jun 07, 2022
We needed help in a pinch as another lender was going very slow and ended up missing our closing date. Luckily, we found Jaimie only three weeks prior to close and had her work on the same loan behind the scenes just in case. She got it done and we used her to close.
David D May 11, 2022
Jamie and her exceptional team was an absolute pleasure to work with. The team is very courteous and professional. They answered all of our questions and concerns without delay. I am very happy with Jamie and her team and will most definitely recommend them to friends and family. Thank you to Jamie and her team. It was a great experience.
Tanya J May 08, 2022
Great communication and very efficient
Deanna P May 06, 2022
Very smooth process Jamie and the team were all great! We are excited for the next deal.
Jordan M May 05, 2022
Jami and her staff was amazing! Very professional, timely,and willing to answer or find the answer to any question we had. It was a pleasure to do business with them. Would definitely recommend to a friend.
Richard J May 05, 2022
Jamie and Kendra are on it! They manage every step of the process professionally and efficiently while maintaining a very personable experience
Kathleen P Apr 12, 2022
Jamie and her team were great to work with. Highly recommend.
Joshua B Mar 19, 2022
Jamie was amazing! Very clear, understanding, professional, and helpful.
Alejandra N Mar 15, 2022
Great service. Great communication. Super easy to work with.
Brandon D Mar 14, 2022
Jamie's comment to service.
Todd E Mar 11, 2022
Really appreciated the personal touch given to us as customers. Always felt like I could get a hold of Jamie and her team about any question and they would have our back.
Ehren S Mar 06, 2022
Friendly and helpful ladies.
Juliana B Feb 17, 2022
Jamie made it a pleasure to refinance
Andrew W Feb 17, 2022
It was easy and the team was great to work with.
Amber J Feb 16, 2022
This was the second time using Jamie and her team. Great communication from them through out the process. Highly recommend this team for you home financing needs.
Shawn C Feb 03, 2022
It was stress free! Virginia and Kendra made everything so easy for us, and explained everything. Being first time homeowners, we didn’t really know much about the process but thanks to the team, we didn’t worry about anything! Thank you so much.
Paola M Jan 29, 2022
Jamie was great with communicating to us and made it so easy through the whole process. This was our 2nd time using Jamie and I would definitely recommend her to anyone.
Jessica C Jan 27, 2022
The entire team was very helpful throughout the entire process. Thank you for the speedy manner in which you handled my refi!
I will definitely be using your services again in the near future. Feeling Grateful!!! : )
Sandra S Jan 20, 2022
Such a pleasant and easy loan process! Jamie was wonderful from beginning to end.
Elizabeth M Jan 20, 2022
Jamie and team were able to get us approved when other lenders told us it wasn't possible for another year. When you look for a mortgage broker, or lender, results matter the most. Jamie and team get results....it's that simple.
Sean F Dec 30, 2021
Jamie was so easy to work with. She answered all of our questions in a timely manner and took the time to explain anything we asked.
Danielle A Dec 09, 2021
Process went as smoothly as could be hoped for.
Jacob P Dec 09, 2021
It was an absolute pleasure to work with you. Superb service!
Julius D Dec 05, 2021
The overall customer service was a great!! These ladies are the best!! They went above and beyond to make our home buying experience and process possible!! There were a few speed bumps along the way (due to our part) but they were there every step of the way! Communication and responses were always fast and effective! These ladies were always upbeat and you could hear their smiles and enthusiasm over the phone! We honestly couldn't of done without them!!
Stacee F Dec 03, 2021
Jamie is so sweet and real. She tells it like it is, but in a way that doesn’t make you feel uneducated. She takes the time to explain things and genuinely cares about her clients.
Amanda H Dec 02, 2021
The process was very simple and streamlined!
Robert A Nov 30, 2021
Jamie and her team were certain to keep the line of communication open even when the realtor wasn’t responding. I absolutely LOVE this team and they’re a God sent. Jamie sat down with me and reviewed every detail of the loan and what it would look like long term. Her team gave great financial advice. Jamie was even available to help troubleshoot some things she truly didn’t have to. This team went ABOVE and BEYOND their duties to ensure my buying process was successful and went so smoothly. A definite 10/10 would highly recommend!
Charles F Nov 20, 2021
Jamie was such a calming force in a stressful process! We loved her!
Amanda W Nov 18, 2021
Jamie and her team were extremely communicative and made the entire process seamless. I don’t know if it could have gone any better. They are fantastic at what they do and have an excellent system.
Michael W Nov 17, 2021
Efficient, courteous, and prompt.
Douglas S Nov 11, 2021
Jamie has a great team and they all ROCK.
Gary B Oct 26, 2021
Every single bit of it.
Desneige V Oct 26, 2021
Jamie and her staff were efficient and so great at keeping me in the loop of what was going on. They made refinancing so easy and worry free!
Christie C Oct 07, 2021
Buying a house is never easy especially buying one in a state you don't live in but never fear Jamie and her team are here to help you every step of the way. This process was made so easy all my fears of phone calls paper work emails etc I never had to worry about any of it Jamie and her team took care of everything. I would highly recommend her she made buying a house so simple. Communication was clear always available via text and calls, the entire process was organized and they adapted to my busy work schedule to ensure I was going to be successful.
Donald M Oct 07, 2021
Jamie makes usually a stressful process seem effortless.
Her Team & her are very personable and communicate every step of the way. We Wouldn’t go anywhere else!
Austin W Oct 06, 2021
Jamie is awesome and what she does and makes the process senseless and easy!
Rachel W Oct 01, 2021
Great with communication and keeping me informed!
Lela F Oct 01, 2021
Jamie and her team are awesome! The entire process was so easy and stress free!
Tammy R Sep 29, 2021
This is our third time using Jamie and, because there is no one better, we will be back again!
Jennifer C Sep 02, 2021
Jamie is very knowledgable with the loan experience, knows how to make things happen, is always so wiling to answer questions, educate, and do what is best for the customer! Virginia has been a great help and so has the rest of the team! Lucky to have them!
Kelly M Sep 01, 2021
Jamie, Virginia and Kendra
Guided us through every step of the mortgage process with compassion and professionalism .
Billy R Sep 01, 2021
Jamie was professional, attentive to our needs, communicated with us throughout the process and made the whole experience one that was easy for us and as smooth as we could possibly ask for in a mortgage refinance. I would recommend her and her team to anyone seeking a mortgage without hesitation.
Daniel A Aug 28, 2021
Jamie went above and beyond for us, and provided us with the best service we could have ever asked for. She put up with all of the questions my husband called in for daily. Jamie truly handled us with the most respect, love, and care. We love knowing that whenever we decide to move out of our house and buy a new home that we will be in the best hands. For now, we are in complete awe of our new home and we are so excited to fill it with memories and love. We love you Jamie.
Brianna B Aug 10, 2021
The entire team was amazing. Jamie, Virginia, and Kendra were perfect and so nice. They explained everything thoroughly to where I could understand what was happening. They made the entire home buying experience amazing .
Ashton B Aug 10, 2021
Jamie was absolutely amazing from start to finish! She communicated with us every step of the way! She’s on top of it! There were no surprises or hiccups that can often happen. She even took time out of her busy schedule to appear at closing and see the deal wrap up! I would recommend Jamie to everyone!
Jodie R Aug 10, 2021
This was our second time using Jamie. She is always so quick to answer all of your questions and a joy to work with.
Ashley S Aug 07, 2021
Really awesome and very helpful.
Annabelle B Aug 06, 2021
Jamie was great to work with! Answered all of my questions and was always proactive. Love her positive energy and willingness to help out in any way possible.
Jessica J Aug 04, 2021
Jamie and team made the entire process extremely easy and seamless. They were always willing to chat over the phone and answer questions and were on top of every step. Jamie took the extra step to make signing fun and to make sure everything was correct for closing day. I cannot say enough good things about the experience.
Madison P Aug 03, 2021
Jeremy B Jul 26, 2021
Jamie and her team were very helpful, knowledgeable, and friendly. They made us feel comfortable with the entire process. And, the process was so quick! The complete experience was amazing! Thank you so much!!!
Melissa C Jul 23, 2021
Jamie and Virginia were so helpful and communicative through the entire process. Both my client and I were impressed by their attention to detail and kindness. Thank you for such a smooth transaction!
Bryan R Jul 23, 2021
Very friendly staff. You explained everything very well.
Alan S Jul 23, 2021
very nice people very professional and very helpful
Walid A Jul 20, 2021
Excellent communication and service!!
Jennifer C Jun 16, 2021
We want to make your home financing as easy as it can be. With Prosperity Mortgage, you can relax while we handle the details.
You can get a loan before you even select a home. A Prosperity 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.
Prosperity 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?
Prosperity 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 more 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.