Texas Home Loan Team
Prospect Mortgage
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Texas Home Loan Team
at Prospect Mortgage
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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.
Equal Housing Opportunity
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
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Call Us Today! 817-328-1307
850 E State Hwy 114, Ste 100
Southlake, TX 76092
VA Home Loans

Backed by the Veterans Administration and the federal government, a VA Home Loan is similar to FHA except that you have to be a qualified Veteran or military person.

VA home loans will required approval certificate of eligibility (Form DD214) which is issued by the Veterans Administration.  This form tells the lender the amount of eligibility for the veteran which will determine the down payment, if necessary.

VA home loans can be zero down loans at time of purchase.  This is ideal for veterans that would like to purchase a home without a down payment.  Closing cost can be paid by the seller, but the maximum the seller can contribute is 4%.

VA home loans classify closing cost as either allowable or non allowable closing cost.  The veteran is not allowed to pay for any non allowable closing cost, but the seller can pay for these fees.

VA home loans require a VA appraisal which can take up to 10 business days to complete.

VA rates are similar to FHA home loan rates.  VA home loans also have an upfront funding fee.  The upfront funding fee increases for your second VA home loan.

VA home loans do not have a monthly mortgage insurance fee.

VA home loans can be used to purchase or refinance a primary house.