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Texas Home Loan Team
at Prospect Mortgage
QUICK Home Loan Quote
Home Loan Programs
Home Loan Process
We do business in accordance with the Federal Housing Act and the Equal Credit Opportunity Act and do not discriminate on the basis of race, color, national origin, religion, sex, age, income, handicap or familial status.
Loan inquiries and applications in states where I am not licensed will be referred to a Loan Officer who is licensed in the property state. Equal Housing Lender. Prospect Mortgage is located at 15301 Ventura Blvd., Suite D300, Sherman Oaks, CA 91403. Prospect Mortgage, LLC (Unique Identifier #3296) is a Delaware limited liability company licensed by the Department of Corporations under the California Residential Mortgage Lending Act and operates with the following licenses: AK Mortgage Lender License #100251; AZ Mortgage Banker License #BK0903027, #BK0909362, #BK0908046, #BK0908050, #BK0908056, BK#0908057, #BK0908058, #BK0908731, BK#0903112, BK#0903912, BK#0906650, BK#0906913; To check the license status of your CO mortgage broker, visit www.dora.state.co.us/real-estate/index.htm; GA Residential Mortgage License #16984; IL Residential Mortgage Licensee #6424; MA Mortgage Lender/Broker License #MC2011; MS Licensed Mortgage Co.; MT Residential Mortgage Lender Licensee #120; NV Division of Mortgage Lending Mortgage Banker #1173 and Mortgage Broker #3095; Licensed by the NH Banking Dept.; Licensed Banker-NJ Dept. of Banking and Insurance #9932415; Operates as Prospect Lending, LLC in NY (Licensed Mortgage Banker-NYS Banking Department); Operates as Prospect Mortgage, LLC of Delaware in OH (Ohio Mortgage Broker Act, Lic # MB.803629.000); OR Mortgage Lender Licensee #ML-2006; PA Dept. of Banking license #1740; RI Licensed Lender #20021343LL, Broker #20041643LB; licensed by the VA State Corp. Commission as MC-2195. This is not an offer for extension of credit or a commitment to lend. All loans must satisfy company underwriting guidelines. Information and pricing are subject to change at any time and without notice. This is not an offer to enter into a rate lock agreement under MN law, or any other applicable law.
HomePath is a registered trademark of Fannie Mae.
Disclosure last updated March 30, 2010
Call Us Today! 817-328-1307
850 E State Hwy 114, Ste 100
Southlake, TX 76092
First Time Home Buyers
As a first time home buyer, the home loan process can seem very overwhelming, but the Texas Home Loan Team tries to make sure that each first time home buyer understands the process as well as the loan they are applying for.
For many first time home buyers, the FHA home loan is the best option for a new home. FHA allows home buyers to get a home loan with little money down.
The Texas Home Loan Team offers special discounts for first time home buyers. A first time home buyer is anyone who has not owned a home in the last three years. The discounts for first time home buyers come as closing cost credits towards their home loan. These credits can be used to reduce the closing cost or possible reduce the interest rate.
Below are some suggestions for first time home buyers.
* Always get the home inspected - a home inspection is the best way to make sure that you are buying a home that is in good condition.
* Get preapproved for a home loan - by getting preapproved for a home loan, you will be able to know what your monthly payment will be and what your home price range will be.
* Gathering information - during your preapproval process, gather information like your last two years tax returns, last two pay stubs and last two years W-2s. For self employed borrowers, it is important to have your loan officer review your tax returns to determine your monthly income.
As part of the preapproval process, we will also need to verify your last two months bank statements (all pages).
To begin the preapproval process, click on the apply today click above or call one of our loan officers at 972-998-2057.
First time home buyers should always ask questions about their home loan. Make sure that you understand the type of loan you are applying for, the terms of the home loan, as well as any other important information like the property taxes and home owners insurance requirements.
When shopping for a new home, make sure to ask important questions like:
* What are the property taxes per year on this home?
* Is this home in a home owner's association?
* How long do I plan on staying in this home?
* Are there any immediate improvements needed?
Begin the Home Loan Process today!
