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Are Fixed Rate Mortgages or Adjustable Rate Mortgages better for me?

When you are in the market for a mortgage, one of the many decisions you’ll have to make is whether to apply for a fixed-rate loan or an adjustable rate mortgage (ARM). Both can be beneficial, depending on your situation. Learning the difference between them can ensure you get the right product for your financial goals. Fixed-Rate Mortgages Fixed-rate mortgages (FRMs) are just as their name suggests - loan with a fixed interest rate, a rate that never changes over the course of the mortgage. The obvious benefit of this type of loan is that your monthly payment, as well as your inte...

August 15th, 2018 | Purchasing a Home, Fixed Rate Mortgages, Adjustable Rate Mortgages, Refinancing a Home, Are Fixed Rate Mortgages or Adjustable Rate Mortgages better for me?

Should I Pay Mortgage Points?

If you are buying a home or refinancing, you have probably heard about “mortgage points.” This form of pre-paid interest can save you thousands of dollars over the course of your loan but in many circumstances is not worth the upfront cost. How do you know whether to pay points or not? Here’s a quick guide to help you figure it out. What are Mortgage Points? Mortgage points – also known as discount points - are essentially a way to pay some of the interest upfront on your home loan. One point is equal to 1% of your mortgage amount. For example, one point on a $100...

July 18th, 2018 | Purchasing a Home, Interest Rates, Should I Pay Mortgage Points?

4 Things Every Borrower Needs to Know About Mortgage Brokers

Buying a home in Texas, whether for the first time or the last, is an exciting event. Yet before you even take a look at a single home for sale, it is a smart idea to have your mortgage financing lined up. While it is possible to get a home loan directly with your local credit union or bank, the most common mortgage-makers are mortgage brokers. If you are ready to apply for a home loan, here are 4 things you need to know about mortgage brokers before starting the process. A broker is a middleman Mortgage brokers act as go-betweens for you and many different potential lenders. Instead o...

June 20th, 2018 | mortgage brokers, 4 Things Every Borrower Needs to Know About Mortgage Brokers

Texas Jumbo Mortgage Loan

We have changed our Texas Jumbo Loan Program to include the following:   ·        Do cash out (yes, even on a Texas loan) to $1.5million ·        Go to 90% Loan-to-Value without monthly mortgage insurance ·        Go up to 50% Debt-to-Income even on self-employed borrowers ·        Interest only/arm There are many more exciting details please call now! (888) 435-7190.

June 20th, 2012 Texas Jumbo Mortgage Loan

Texas Mortgage FHA Streamline Without Appraisal

Texas FHA Mortgage Streamline without an appraisal is here!! Lower Mortgage Insurance Premiums No Appraisal Required Limited Income Documentation Even if You Have Lost Value in Your Home! This is a great product for borrower's who have lost value in their home or just don't want the expense of paying for a new appraisal. Call us now at (214) 389-4649 or toll free at (888) 435-7190.

June 11th, 2012 Texas Mortgage FHA Streamline Without Appraisal

Texas Mortgage Streamline Harp Program

  Do any of these sound like you? The value of my property has fallen. I owe more than my home is worth. I have been turned down for a refinance loan in the past. I am having trouble making my house payments. I have an adjustable rate mortgage. I don't qualify for loan modification. I can't afford my mortgage payment. If so, we might have the answer that you've been looking for. The Making Home Affordable Refinance Program is a government backed mortgage program that allows most borrowers with existing Fannie Mae and Freddie Mac loans to refinan...

June 5th, 2012 | Texas Mortgage, Mortgage Rates, Mortgage Streamlin, Mortgage Streamline, Texas Mortgage Streamline Harp Program

Southwest Funding is a BBB Accredited Mortgage Banker in Dallas, TX

 

Southwest Funding

13140 Coit Road #223
Dallas , Texas 75240
Phone: 888-435-7190
Fax: 214-572-7645
NMLS: 32139