Mortgage Pearland Texas

Mortgage Pearland Texas

Approval Without Contract | Pearland Home Loan

Approval Without Contract | Pearland Home Loan

New Fannie Mae Product‏

A Better Option
The Fannie Mae My Community Mortgage is great for those who wanting a low down payment, less than perfect credit score but are still looking for that opportunity to buy a home. The My Community Mortgage Program is a conventional product that offers underwriting flexibilities to qualified borrowers who meet specific income criteria or properties that meet geographic criteria. The changes in FHA-backed financing have many homebuyers seeking an alternative and the Fannie Mae’s My Community Mortgage Program is the answer. FNMA is also flexible on the source of down payment. It can be the borrower’s cash on hand, gift from a relative, or even from the employer. However, the one and primary restriction with the My Community program is that it does carry income limits, meaning that buyers must fall within these limits in order to be eligible and qualify for this program. The chart below shows the difference in the monthly mortgage insurance between the three mortgage loan products and the monthly mortgage payment.

Example: 30 Years Fixed, $200,000 loan amount, 95% LTV, 650-699 FICO     MCM w/BPMI Conv w/ BPMI  FHA Rate/APR: 4.125%/4.265% 4.375% / 4.516% 3.75% / 5.635% P&I: $965.98 $994.94 $954.83 Taxes (1.5%): $250.00 $250.00 $250.00 Insurance (.5%): $83.33 $83.33 $83.33 Monthly M.I.: $123.33 $191.66 $225.00 Total payment: $1,426.77 $1,524.31 $1,513.16

Your FHA Alternative As little as 5% down payment, however their will be a 3% down payment option before the year ends. Credit scores as low as 640 Owner occupied 1-4 Units, Condos, and PUDs For single family residences, there is no minimum borrower funds contribution (all gift funds are acceptable) No Up Front MI compared to FHA, saving borrowers thousands of dollars Cheaper monthly MI premiums compared to FHA Income limits apply. Brazoria, Fort Bend and Harris counties are $66,600.00 https://www.fanniemae.com/content/tool/ami-master-data-file.xls Homeownership education course is required for first time home buyers

Why choose Wright Mortgage for your client mortgage needs? Our customers would say that we are fair, transparent, reputable, and a responsible mortgage company who knows how to help people navigate through the mortgage process. Realtors and Wright Mortgage work together without a hitch, and both parties business improves from the process. Website

Pearland Home Loan | Family Owned* Locally Operated* We Close The WRIGHT Loans!

Pearland Home Loan | Family Owned* Locally Operated* We Close The WRIGHT Loans!

Pearland Home Loan | Family Owned* Locally Operated* We Close The WRIGHT Loans!

Pearland Home Loan | Family Owned* Locally Operated* We Close The WRIGHT Loans!

The Best Interest Rates in Town

The Best Interest Rates in Town Wright Mortgage is a locally owned and operated mortgage company. We know that each customer has specific needs, so we strive to meet those needs with a wide array of services. Wright Mortgage specializes in acquiring low interest rates and closing costs possible for each client. The biggest advantage of using Wright Mortgage is that we give your clients more options; we will review your client's financial situation (credit rating, income, debt) and will quickly find the best interest rate and loan term for your client. Wright Mortgage has regular contacts with a wide variety of lenders. We pride ourselves to give your clients the best interest rates and providing them with credit to help play for some of your client's closing cost. Neither Banks nor Mortgage Bankers will do that for your clients!

Relationships Relationships are at the core of our business. Realtors and Wright Mortgage work together without a hitch, and both parties business improves from the process. Wright Mortgage is a professional and dependable company who takes getting your clients Approved and on time closing a priority. Communication is always the foundation to any relationship. Communication is key to preparing your customer of possible delays or issues that may arise during the loan process. Properly informing real estate agents and clients throughout the loan process should allow all parties to properly prepare for unexpected issues that may arise. Why choose Wright Mortgage for your client mortgage needs? Our customers would say that we are fair, transparent, reputable, and a responsible mortgage company who knows how to help people navigate through the mortgage process.

Pearland Home Loan | Family Owned* Locally Operated* We Close The WRIGHT Loans!

Pearland Home Loan | Family Owned* Locally Operated* We Close The WRIGHT Loans!