We specialized in first-time homebuyers, second homes, investments, and other loan products. My two decades of experience will ease your worries. Inquire about the best home loan programs in Texas that we can offer.
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Fixed-rate conventional mortgages
ITIN, Non-QM Loans
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Whatever the case may be, it's best that you inquire and talk to me. Let's see how I can help you and explore your options.
Inquire for the best loan options that you can get.
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.
The VA Loan provides veterans with a federally guaranteed home loan which requires no down payment. This program was designed to provide housing and assistance for veterans and their families.
If you're looking to buy a home in a rural or suburban area with no down payment and minimal investment, you might consider the USDA Rural Development Loan.
Jumbo Loans are used to finance properties that are too expensive for a conventional conforming loan. There's maximum amount for a conforming loan as determined by the Federal Housing Finance Agency (FHFA).
As an experienced loan officer in Texas, you can count on me to guide you through the mortgage process. Whether you are a first-time homebuyer, a current homeowner wanting to refinance an existing mortgage or add an investment property to your rental portfolio, my focus is on providing a five-star customer experience. Texans Mortgage Group - powered by Barrett Financial offers competitive interest rates and a wide range of loan products from fixed-rate conventional mortgages to FHA, VA, Jumbo loans as well as down-payment assistance programs.
NMLS# 262973 Co. NMLS #181106
No-hassle loan applications
Step-by-step guide in closing your loans
The first step in obtaining a loan is to determine how much money you can borrow. In case of buying a home, you should determine how much home you can afford even before you begin looking. By answering a few simple questions, we will calculate your buying power, based on standard lender guidelines.
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Home loans come in many shapes and sizes. Deciding which loan makes the most sense for your financial situation and goals means understanding the benefits of each.
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After figuring out which loans is the most beneficial for you. You can go ahead and start the application process.
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Although lenders conform to standards set by government agencies, loan approval guidelines vary depending on the terms of each loan.
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After your loan is approved, you are ready to sign the final loan documents. You must review the documents prior to signing and make sure that the interest rate and loan terms are what you were promised.
Read our guides and more -- check out our blogs!
“Understanding and preparing for closing costs ensures there are no financial surprises on the final stretch to homeownership.”
- Anonymous
Introduction:
Closing costs are an essential part of the home-buying process that can sometimes catch first-time buyers by surprise. Understanding these costs and how to manage them is crucial for a smooth closing. In this part of our series, we’ll break down the various closing costs and offer tips on how to handle them effectively.
What Are Closing Costs?: Closing costs are the various fees and expenses you’ll need to pay when finalizing your home purchase. These can include loan origination fees, appraisal fees, title insurance, and attorney fees. Understanding closing costs is crucial for homebuyers to avoid surprises and budget effectively. Typically, closing costs range from 2% to 5% of the loan amount.
Loan Application Fees: Loan application fees are charges you’ll encounter when applying for a mortgage. These fees cover the costs of processing your application, including credit checks and underwriting. Knowing about loan application fees helps homebuyers budget accurately and avoid unexpected expenses. Typically, these fees range from $300 to $500, depending on the lender. For first-time homebuyers in Texas, understanding these fees is essential to ensure a smooth application process. Stay informed and make your home-buying journey stress-free by learning more about loan application fees.
Appraisal and Inspection Fees: Appraisal and inspection fees are critical costs to consider when buying a home. An appraisal fee, typically ranging from $300 to $500, ensures the home's value matches the loan amount. Inspection fees, usually between $200 and $500, cover a thorough check of the property’s condition, identifying potential issues. For first-time homebuyers in Texas, understanding these fees can help you budget effectively and avoid surprises. These steps are essential for protecting your investment and ensuring a smooth purchase process.
Title Insurance: Title insurance is a crucial part of the home-buying process, protecting you against potential legal issues related to property ownership. This one-time fee ensures that your ownership rights are secure, covering problems like title defects, liens, or encumbrances. Typically, title insurance costs range from 0.5% to 1% of the home's purchase price.
Escrow Fees: Escrow fees are an essential cost in the home-buying process, covering the services of a neutral third party who manages funds and documents until the transaction is complete. Typically ranging from 1% to 2% of the home’s purchase price, these fees ensure a smooth and secure transaction.
Recording Fees: Recording fees are a necessary expense in the home-buying process, covering the cost of officially recording your property’s deed and mortgage documents with the local government. These fees typically range from $50 to $250, varying by location.
Prepaid Costs: Prepaid costs are upfront expenses you pay at closing, covering items like homeowners insurance, property taxes, and mortgage interest. These costs are necessary to establish an escrow account, ensuring timely payments for these recurring expenses. Typically, prepaid costs can range from a few hundred to several thousand dollars, depending on the home’s value and local tax rates.
Negotiating Closing Costs: Negotiating closing costs can save homebuyers significant money during the home-buying process. These costs, which include fees for appraisals, inspections, and title insurance, typically range from 2% to 5% of the loan amount. By negotiating with lenders and sellers, you can reduce or even eliminate some of these expenses.
Conclusion:
With a clear grasp of closing costs, you’re better prepared for the final steps of your home purchase. Next, we’ll discuss the importance of building an emergency fund to safeguard your financial future as a homeowner. The Next blog will be published on July 31, 2024, at 11:00 a.m.
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Reviews were imported from Google & Facebook
The best trio! I had the pleasure of working with Patricia and she has been of great assistance throughout the entire process. Even after we closed on our home she is there to answer any questions. Highly recommended, the best. Rudy and Team, thank you!!!
Rudy and the staff are so nice you get the good vibe when you walk in very sweet front desk girl I’m very blessed to have friends like Rudy se los recomiendo *5
Rudy and the rest of the staff are so helpful and welcoming. They make you feel like family even after the whole process is over. Everyone knows that the home buying process is not a walk in the park, it’s stressful, it’s frustrating at times but with Texas Mortgage Lender you never feel that way. They help you every step of the way, best decision I ever made. I have been in my home since 2017.
Best customer service at this location
Address: 16821 Buccaneer Lane, Suite 200, Houston, TX 77058
COMPANY NMLS: 181106
RUDY ZARATE | NMLS #262973 | Barrett Financial Group, L.L.C. | NMLS #181106
View complaint policy at www.barrettfinancial.com/texas-complaint
This is not a commitment to lend. All loans are subject to credit approval.
Our Houston, TX Office:
(281) 747-6699
Our McAllen, TX Office:
(956) 255-0454
Operating Hours:
Mon 08:30 am – 05:30 pm
Tue 07:30 am – 04:30 pm
Wed 07:30 am – 04:30 pm
Thu 08:30 am – 05:30 pm
Fri 07:30 am – 04:30 pm
Weekends Closed