Mortgage Resource Library

MortgageMark - Video Library

MortgageMark - Video Library

NEIGHBORHOOD Lake Highlands Join MortgageMark as he talks with Jami Mumley about why Lake Highlands is such a great place to live. Rockwall MortgageMark and Sarah Naylor discuss what you need to know about...
Mortgage Payment Calculators

Mortgage Payment Calculators

A mortgage payment calculator can help you estimate your monthly payment for your home loan. The links below are calculators for fixed rate loans and provide rough estimates for the MI, property taxes, and home owner’s insurance for homes in the DF...

Conventional Payment Calculator

The mortgage payment calculator below is for purchasing a home in Texas using a Conventional Home Loan. The calculator will be slow to load (like 5 to 10 seconds slow) and then it will take another few seconds for your first input to be recognized; however, ...

FHA 203k Loan Payment Calculator

The mortgage payment calculator below is for purchasing a home in Texas using a FHA Home Loan . The calculator will be slow to load (like 5 to 10 seconds slow) and then it will take another few seconds for your first input to be recognized; however, ...

VA Home Loan Payment Calculator

The mortgage payment calculator below is for purchasing a home in Texas using a VA Home Loan . The calculator will be slow to load (like 5 to 10 seconds slow) and then it will take another few seconds for your first input to be recognized; however, after ...

USDA Payment Calculator

The mortgage payment calculator below is for purchasing a home in Texas using a USDA Home Loan . The calculator will be slow to load (like 5 to 10 seconds slow) and then it will take another few seconds for your first input to be recognized; however, ...
1st and 2nd Split Financing Calculator

1st and 2nd Split Financing Calculator

The mortgage payment calculator below is for purchasing a home in Texas using a Split Financing (i.e. a first and second lien mortgage). The calculator will be slow to load (like 5 to 10 seconds slow) and then it will take another few seconds for your f...

Jumbo Payment Calculator

The mortgage payment calculator below is for purchasing a home in Texas using a Jumbo Home Loan - which in Texas is any single loan over $417,000. The calculator will be slow to load (like 5 to 10 seconds slow) and then it will take another few seconds f...
Debt to Income Calculator

Debt to Income Calculator

The question: "how much home can I afford?" The answer: it depends on your DTI. "DTI" stands for Debt To Income ratio and it's relatively easy to calculate (see calculator below ). You add up your total monthly debt obligations and then divide that number...
Title Policy Calculator

Title Policy Calculator

Title Policy Calculator A title policy protects you and the lender from any property loss or damage due to liens, encumbrances, or defects in title. Basically a title policy makes sure only you and the lender have any claim in the property. The...
Home Buying 101

Home Buying 101

The links below can help provide you with critical information about the home buying process and what to expect at each stage. The purpose of this page is to point you in the right direction to get more information relevant to you. Much of...

Purchasing Power

As mortgage rates rise, purchase power falls. A 1% increase in interest rates will drop purchasing power by approximately 10.75% What does this mean you may ask? A home buyer who purchases a $267,750 home in the future with an interest rate of...
Mortgage Down Payments

Mortgage Down Payments

So you're buying a home and trying to determine how much you should put for a mortgage down payment. Below are the basic down-payment guidelines for various loans programs, AND a few of our opinions about how much you should (or shouldn't) put down...

Tax Deductions

One of the greater financial benefits of home ownership are the tax deductions. Mortgage Interest Tax Deductions Mortgage Insurance Tax Deductions Points Property Taxes Capital Gains Exemptions From Equity Disclaimer: I am not a professional...

Mortgage Interest Tax Deductions

Mortgage Interest paid on first and second mortgages are tax deductible for primary and second homes. The deductions are only allowed for mortgages up to $1,000,000 in acquisition debt and $100,000 in home equity debt (aka. cash out refinances). Note:...

Mortgage Insurance Tax Deductions

Mortgage Insurance (MI) can be tax deductible but unlike Mortgage Interest Tax Deductions , MI deductions are dependent on the household's adjusted gross income. Note: Mortgage Insurance should not be confused with Homeowner's Insurance or with any...
Mortgage Glossary

Mortgage Glossary

Mortgage Glossary Full disclosure: this is one of the very few pages we didn't actually write on our website. This information was provided to us for use on the site so we included it in case someone needed or wanted it. Please call us if you have...
Adjustable Rate Mortgage Basics

Adjustable Rate Mortgage Basics

Adjustable Rate Mortgage Basics An Adjustable Rate Mortgage (ARM) is normally a 30 year fully amortizing loan that has an interest rate that will adjust once an initial fixed rate period has expired. ARM have a "fully indexed rate" that is determined...
Mortgage Servicer

Mortgage Servicer

A mortgage servicer is mortgage company that monthly payments get paid to. They may not technically own the home loan. Rather, they are the company that collects the payments and is the point of contact for the homeowner. It takes a ton of money to...
What is a Title Company?

What is a Title Company?

A title company is an independent, unbiased, third-party company who acts as a fiduciary intermediate during the home loan process.  The company comes into play during the setup stage when a title is ordered. Here is a overview of the mortgage loan ...

Qualified Mortgages (QM) Guidelines

The Consumer Financial Protection Bureau (CFPB) amended Regulation Z, which implements the Truth in Lending Act (TILA), to prohibit lenders from making a higher-priced mortgage loan without regard to the consumer’s ability to repay the loan. (In other w...

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Realtors: Help Us Help You

Realtors: Help Us Help You

Realtors: Help Us Help You Setting proper expectations for the mortgage process is critical in ensuring a smooth, on-time closing and having happy customers. Thanks to massive regulation over the past few years the mortgage process is neither easy...

Facebook List - How To

While attending a Facebook class hosted by The Rook (www.theRook.net ) he mentioned that the best way to organize your Facebook is by creating lists. Below is his PDF on how to create lists in Facebook. Enjoy! Facebook List PDF https://drive...
Floify Pre-Approval Letters for Real Estate Agents and Partners

Floify Pre-Approval Letters for Real Estate Agents and Partners

As a Real Estate agent, you know how important it is to be able to produce a Pre-Approval letter on the go. With Floify, we've got just the program you need to be able to do just that. How to create a Pre-Approval letter in Floify from your PC...
Time Management Tips

Time Management Tips

Time Management Tips These ten tips are so easy that they're darn near impossible. Seriously. These ten topics hold the secret to time management - the trick is to be disciplined enough to implement them (and keep them implemented). Time Management...