Texas Home Equity Cash Out Refinance with Mortgage Mark

Texas Home Equity Cash Out Refinance (A6)

Texas Home Equity Loan Overview A home equity cash out refinance home loan on a primary residence in Texas is a unique loan. The Texas Constitution has mandatory guidelines for these loan in Section 50(a)(6); hence the “A6” designation. Below is the “fine” print and “Need to Knows” behind these mortgages. Other Items to Note […]

Earnest Money Guide with Mortgage Mark

Earnest Money

Once you write a contract you will typically write two checks, one for the Option Money and the other for the Earnest Money and both must come from an Acceptable Source of Funds. Both will be credited to you at closing and can be applied towards your Down Payment or Purchase Closing Cost, but both may not […]

Closing Cost Overview With Dallas Top Mortgage Lender

Closing Costs Overview

There are three components that make up the “costs” for every home loan closing: the down payment (or equity for refinances), closing costs, and prepaids. The Mortgage Down Payment (or equity) is determined by you, the borrower. The Closing Costs are the actual fees for the home loan and will vary depending on the purpose, product, […]

Sellers Net Sheet Voted Best Realtor in Dallas

Acceptable Funds

One of the most annoying components of the Mortgage Paperwork is documenting and sourcing assets. All funds for the loan – including the Earnest Money, Down Payment, Asset Reserves, and Closing Costs – will be required to be documented and sourced. Acceptable Funds To be considered “acceptable funds” the money must be yours and accessible. Here […]

Second-Mortgages

Second Mortgage Details

Second Mortgages Details When doing split financing these terms are typically thrown around: 2nd liens, second mortgages, piggy back seconds, 80/10/10, 80/15/5, and 80/20. All these terms mean the same thing. Below are the second mortgage details but if you want basic information (like why to have a 2nd at all) then visit Split Financing […]

Down Payment with Dallas Top Lender

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 for a down payment. The funds due at closing consists of […]

Home Loan Basics With Top Lender Mark Pfeiffer

Home Loan Basics

So you’re starting the due diligence process and want to know more about mortgage financing. Regardless of whether it’s a purchase or refinance home loan, these are the three most common questions we get from our clients when starting: What are the rates? What are the fees? What are the payments? In an attempt to […]

Escrow Analysis and Rebalance with Best Mortgage Lender in Dallas Small 200x200

Escrow Analysis and Rebalance

Escrow Analysis And Rebalance If you currently have a mortgage AND have an Escrow Account then this page may be applicable to you. You may also want to check out our page on New Construction Escrows if you bought (or are buying) a newly constructed home. Escrow Analysis Every year, typically around February, mortgage servicers […]

How To Pay For Closing Cost when buying a home Plano Texas

How To Pay For Closing Costs

How To Pay For Closing Costs When structuring a mortgage home loan there are four ways to pay for the Mortgage Closing Costs: pay cash at closing, roll the costs into the loan, increase the interest rate, or do a combination of the aforementioned methods.  When lenders offer “no cost” loans or “low costs” loans they are either rolling the costs […]

Mortgage Closing Costs for Mortgage Lender in Dallas Texas

Closing Costs For Purchasing a Home

This page provides a breakdown of the mortgage closing costs for purchasing a home in Texas with a conventional loan. While the fees below are for a conventional home loan, FHA, VA, and USDA loans will have the same basic fees; however, those programs will may require Mortgage Insurance Premiums and/or Funding Fees. Our Commitment We know our fees are […]