Affordable Mortgages with Dallas Top Lender

How Much Home Can I Afford?

The age-old question: “How much home can I afford?” does not have a simple answer. There are a variety of factors that ultimately determine your ability to get a loan and your borrowing power. The program type, Loan To Value (LTV), credit scores, and Debt to Income (DTI) ratios are the primary components that determine how much you can borrow […]

Mortgage Insurance With Mortgage Mark

Conventional MI Factors

The costs of Mortgage Insurance (MI) varies from program to program and the government-backed programs (like FHA, USDA, etc.) have predetermined MI factors that only vary based on the Loan to Value (LTV) and the loan term (i.e. 30 year vs. 15 year fixed). Conversely, the costs of MI for conventional loans (i.e. loans that aren’t […]

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 […]

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 […]

Home Buying 101

Home Buying 101

The links below have been written for first-time home buyers (or for anyone that needs a refresher on mortgages). The three most common questions we get are: “What are the rates?”, “What are the fees?”, and “What are the payments?” Please review the sections below for answers to these questions and let us know if […]

5 Ways to Boost Your Credit Score

Good credit scores give you access to lower interest rates, more loan programs, low or no down payment loans and probably the most important is lower monthly payments. Anyone can boost their credit scores to the level of “Excellent”.  There are only a few fool-proof ways to make drastic improvements to your credit scores.  Here […]