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...
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...
How Much Home Can I Afford?

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,...
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...
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 title...
Closing Costs Overview

Closing Costs Overview

This page outlines the estimated closing costs for purchases, refinances, and new construction loans. The term "closing costs" when used by the layman typically means the amount of money due at closing. However, the money due at closing is comprised...
Closing Costs Payment Methods

Closing Costs Payment Methods

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...
Shop and Compare Mortgage Offers

Shop and Compare Mortgage Offers

Are you wondering how to compare mortgage offers? We believe competitive loan terms are mandatory. Ignorance is not bliss and what you don't know can hurt you (and cost you a significant amount money). Compare Mortgage Offers So you want to get...
Mortgage Points Explained

Mortgage Points Explained

What is a point? Mortgage points are closing costs for a buyer  that are a percentage of the loan amount. One point equals one percent. Who pays for the mortgage points depends on the purchase contract. The buyer pays the mortgage points...
New Construction Closing Costs

New Construction Closing Costs

New construction closing costs typically have additional fees beyond the "normal" estimated closing costs  associated with an existing home. Some builders (like Windsor Homes ) offer buyers financing incentives  as a method to pay closing costs  in...
Estimated Closing Costs

Estimated Closing Costs

There are three components due at closing when buying a home and getting a home loan. The first is the mortgage down payment . Next are the mortgage prepaids . The third and final component are the actual mortgage closing costs for the buyer. As...
Mortgage Prepaids

Mortgage Prepaids

The term "prepaids" includes the costs for the home's property taxes, homeowners insurance, HOA dues, and per diem interest due at closing. When purchasing or refinancing a mortgage home loan there are Closing Costs and there Prepaids. Closing costs...
Get Homeowners Insurance

Get Homeowners Insurance

Homeowners insurance protects a homeowner (and lender) in the event of property damage or loss resulting from an "event."   It covers four main areas: interior damage, exterior damage, loss/damage of personal belongings, and injuries sustained...
Basics of Property Taxes

Basics of Property Taxes

Property taxes are are a part of home ownership and they fund the city, county, hospitals, and schools. P roperty taxes go directly to the taxing authorities via the mortgage's  escrow account  held by the mortgage servicer . In the event an escrow a...
Homestead Exemption Overview

Homestead Exemption Overview

The information below is generic information regarding Homestead Exemptions for counties located in north Texas. Check with your county for specific details on amounts and the process for filing your homestead exemption. Also, b e sure to check out...
Property Tax Deductions: Over 65 and Disabled Person

Property Tax Deductions: Over 65 and Disabled Person

The main source of property tax deductions on a home is the homestead exemption. Here, we talk about the Over 65 Tax Exemption and the Disabled Person Tax Exemption. Also, we focus mainly on the counties in North Texas. Check out our homestead exemption ...

Mortgage Escrow Account Overview

A mortgage escrow account is money held by a mortgage servicer to pay property taxes and homeowners insurance on behalf of the homeowner. These funds technically belong to the homeowner but the homeowner can't access the funds in this "piggy bank"....
Escrow Account Calculations for Purchase Loans

Escrow Account Calculations for Purchase Loans

Check out our Escrow Account Overview as a precursor to this article about escrow account calculations. You may also want to check out our page on Escrow Analysis and Rebalance to learn about the escrow evaluation and re-balancing that takes...
Refinance Escrows

Refinance Escrows

Prepaids and Escrows For Refinances There is a difference between fees paid for closing (i.e. Closing Costs) and Prepaids paid at closing. Fees paid are the cost to do the loan; prepaids are items you're paying regardless of whether you refinance...
New Construction Escrows Explained

New Construction Escrows Explained

New Construction Escrows New construction home loans that have an Escrow Account could potentially experience a dramatic increase in a monthly mortgage payment after an Escrow Analysis is preformed depending on how the property tax portion of...
Escrow Analysis and Rebalance for Homeowners

Escrow Analysis and Rebalance for Homeowners

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...

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...
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...

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 o...

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Butcher Group Registration

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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...
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...

Blogging for Buyers: you're moving to Boise

Boise, ID game: You have a spouse and 1.14 kids, and spouse got job at HP in Boise, Idaho. How do you decide where to live? Where's the focus?  What's the catalyst for the move? How big is the radius? Do basic "keyword" research. Find ...

Writing Great Blogs

Writing great blogs is tough, but practice makes perfect. This page will outline how to properly write an effective blog that is appealing to readers and promoted by search engines. Blogging for buyers is one of the most effective methods of lead...

Podcast Prep

Thank you for joining me in the podcast journey. We will be using Zoom.us to conduct the interview via phone. You do not need to download or install Zoom. You're welcome to call in via phone. Podcast Prep A few minutes before the call I will send...