Getting Pre-Qualified for a Mortgage

Getting yourself pre-qualified for a mortgage is a relatively simple process. It can be achieved as easily as contacting a loan officer and having them take down some general questions about your income, employment, and monthly expenses. Once the loan officer has this information from you they will run your credit and and make an estimate of approximately home much money you can afford to borrow at the current interest rates. After this is done you will get a "prequal letter" that will have this amount indicated on it.  Prequal letters are often given to realtors as a a form of good faith because they show that a borrower can in fact afford a house payment of a certain amount. This way a realtor will know what price range of houses to show a borrower, and they also know that the borrower is working with a loan officer, and thus serious about finding a home. Another benefit of getting pre-qualified is that it makes you much more desirable to someone who is selling their home. When there are multiple ...

The Regular Joe’s Guide to Types of Mortgages

If you are in the market for a new home, it is utterly imperative that you review your financing options before you make any concrete decisions.  Depending on the circumstances (and in order to make sure you get the best possible loan) you should be aware of what choices you have, and what types of financing are at your disposal. Believe me, all the different types of loans can be quite intimidating to someone uneducated on the subject.  In fact, most people in America don't know hardly anything about their financing options.  But don't worry. That's to be expected.   BASIC LOAN TYPES The type of mortgage that the majority of people today will get is know as the traditional fixed rate mortgage, or FRM. Over 70% of homeowners this year will get this type of financing for their new home. The main reason for this is that the FRM offers a much stronger sense of stability over the other types of financing. Whether the life of your loan spans 15 or 30 years, the ...

– WELCOME TO THE MORTGAGE GUIDE OF DFW -

Here at DFW Mortgage Guide we have numerous loan programs that can be custom-built to fit your situation, whatever it may be. We serve the Dallas Fort Worth area metroplex exclusively, so you know you are dealing with a company that knows the area. We also work with over 20 lenders and have access to almost any loan program available.  These include: PERMANENT FINANCING MORTGAGES We offer a multitude of Mortgage programs for Dallas Fort Worth including conventional fixed rate mortgages, FHA Loans, VA, Jumbo, ARM's, USDA, Interest Only, investment properties, condominiums, and many more! HOME IMPROVEMENT MORTGAGES Whether you are looking to purchase a home that needs improvements, or if you need to do some work on your existing house, we have options available for first and second lien home improvement mortgages. HOME EQUITY MORTGAGES We offer Cash-Out Mortgages for primary homes, second homes, and investment homes, as well as interest only HELOCs for primary residencies. SECOND LIEN MORTGAGES We also offer stand alone second mortgages and second lien mortgages closed concurring with first lien ...