Mortgage and Insurance

Home financing and Home Insurance can be a critical part of any real estate transaction. Below you will find some outstanding Mortgage and Insurance information that may be able to help you with the purchase of your next home in Denton, Flower Mound, Frisco, Keller, Lewisville, Plano, or other surrounding North Texas Areas.

Your real estate Mortgage and Insurance resource

Mortgage Calculator: Whats My Home Payment

• Mortgage Providers

  • Home Team Mortgage - Ley Clark
    Ley Clark 972-874-0100 or 214-762-2481
    http://www.yhtm.com
  • Paramount Mortgage - John Hinchey
    John Hinchey 940-321-5626
    http://www.paramountmtg.com
  • DATCU Credit Union - Donna Hall
    Donna Hall 940-390-4267
    Barry Wolzen 940-387-8585
    http://www.datcu.org
  • Premier Nationwide Lending – Manny Uceda
    Manny Uceda English, Spanish 972-679-5494
    muceda at pnlending.com

• Insurance Providers

  • Home Team Insurance
    Doug Haeussler - Agency Sales Manager
    Office (972) 665 1930
    Fax (972) 665 1990
    doughaeussler at ebby.com
  • Walker Insurance Services
    (972) 727 8949
    www.InsureWithWalker.com
  • Farmers Insurance Group
    Gary Leslie
    972-539-1011
    Fax 972-539-1022
    gleslie at farmersagent.com

• Consumer Information

  • www.opic.state.tx.us
    A public Website for policy form comparisons.
  • www.tdi.state.tx.us/company/vipagnt.html
    VIP inspection program. A critical inspection by a third party to help determine insurability of a property. The Texas Department of Insurance also has a homeowner's rate guide in the Website.
  • www.helpinsure.com
    Insurance companies offering insurance in Texas.

Different Types of Mortgages

Getting the right type of real estate home loan is an important part of the home buying process. In this section of my web site I have put together some basic information regarding the types of real estate home loans that are common in the market today.

Fixed-rate mortgages Fixed rate mortgages are mortgages where the interest rate stays the same for the entire term of the loan. The advantage to a fixed rate mortgage is that if you lock a relatively low rate, your payment won’t go up when rates do.

Adjustable-Rate Mortgages With an adjustable rate mortgage, the rate of the loan can change throughout the term of the loan. The rate of the loan is based on adding points to a fixed base.

Hybrid loans A hybrid loan combines a fixed period along with an adjustable component. Usually these loans are fixed for a period of time and then the loan becomes adjustable where it is dependant on current rates.

FHA real estate home loans An FHA loan is a loan in the United States that is insured by the Federal Housing Administration.

VA real estate home loans A VA loan is a loan in the United States guaranteed by the Veterans Administration. The loan may be issued by qualified lenders. The VA was designed to offer long-term financing to American Veterans or to their surviving spouses.

How Much Real Estate Can You Afford?

Getting an idea as to the price of the home you can afford is an important first step in the home buying process. By understanding the price range you can afford, you can look for real estate in the appropriate areas and really find the ideal home for you. By working with me, together we can determine what the right home for you would be. Below you will find some helpful information to help you get a better real estate price point.

Loan prequalification vs. pre-approval

Getting pre-qualified for a loan can help you determine what you can afford. Please fill out the following information and I can help you determine at what price we should start looking at. Things such as your credit history, your income, your outstanding debt, monthly expenses, employment history, the type of mortgage you want, and the amount of savings you have can all impact on how much real estate you can afford.

Real Estate Mortgage Glossary

• Interest Rate The monthly effective rate paid (or received if you are a creditor) on borrowed money. Expressed as a percentage of the sum borrowed.
• MLS- IDX IDX, or broker reciprocity, is a listing sharing arrangement between brokers within a Mulitple Listing Service.
• Market Value An asset's market value is the price it would fetch in the market, if it were sold in the current marketplace.
• Title Insurance A type of insurance which guarantees the ownership and quality of title to land.
• Appraisal An educated estimate of the value of a property on a certain date given by a person, usually after an inspection of the property.
• As is Implied in most Agreements of Purchase and Sale, suggests the buyer is accepting the property in it present state and relinquishes and responsibility from the buyer.
• Bankruptcy a) A person who has done any of the acts that by law entitle his creditors to have his estate administered for their benefit; b) a person judicially declared subject to having his estate administered under the bankrupt laws for the benefit of his creditors; c) a person who becomes insolvent.
• Bid To offer (a price) whether for payment or acceptance.
• Property Tax A tax levied on real or personal property
• Interest Rate The percentage usually on an annual basis that is paid for the use of money borrowed from another
• Home Loan a) Money lent at interest; b) something lent usually for the borrower's temporary use.
• Credit Risk An estimate of the amount of credit that can be extended to a company or person without undue risk.
• Credit Union A cooperative organization that makes loans to its members at low interest rates.
• Prime Rate The lowest rate of interest on bank loans at a given time and place, offered to preferred borrowers.
• ARM A mortgage whose interest rate is raised or lowered at periodic intervals according to the prevailing interest rates in the market.
• Home Equity Loan A loan or credit line that is secured by the equity the borrower has in a home.
• Mortgage A temporary, conditional pledge of property to a creditor as security for performance of an obligation or repayment of a debt.

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