• Where you work
  • Your income
  • Any debt you have
  • Your assets
  • Your credit scores
  • How much you plan to put down on your home

These are factors will determine if you qualify for a loan, we will select a program best fit on you. We will explain your mortgage options and answer all your questions so you feel confident in your decision.

In Generally, you can purchase a home with a value of two or three times of your annual household income. However, the amount that you can borrow will also depend upon your amount of down payment, employment history, credit score, current savings and debts. You may also be able to take advantage of special loan programs for first time home buyers to purchase a home with a higher value. Please call 281-781-4130, and we can help you determine exactly how much you can afford.

This is one of the most commonly asked mortgage questions, and the answer is yes. But you’ll need to go through a process called manual underwriting. Manual underwriting simply means you’ll be asked to provide additional paperwork for the underwriter to review personally. Your loan process may take a little longer, but buying a home without the strain of extra debt is worth it!

A quick conversation about your income, assets and down payment is all it takes to get prequalified. But if you want to get preapproved, we will need to verify your financial information and submit your loan for preliminary underwriting. A preapproval takes a little more time and documentation, but it also carries a lot more weight. Which is better? Think of prequalification as an initial step and preapproval as the green light signaling that you’re ready to start your home search. When sellers review your offer, a preapproval means you’re a serious buyer whose lender has already started the loan process.

A down payment is the amount of money you contribute towards the purchase of a home. Think of it as the amount you initially put up as your share of ownership. The higher your down payment, the less you’re asking to borrow — and the lower your monthly payments will be

Here are the basic down payment requirements for various types of mortgages:

Loan type

Minimum down payment

Conventional loan

3%-15% depending on lender and loan

Jumbo loan

20% or more depending on lender

FHA loan


VA loan

None required

USDA loan

None required


We recommend putting at least 10% down on a home for a better rate, but 20% is even better because you won’t have to pay private mortgage insurance (PMI). PMI is an extra cost added to your monthly payment

With so many mortgage options out there, it can be hard to know how each would impact you in the long run. There are six main types of mortgages available: conventional, conforming, nonconforming, Federal Housing Administration-insured, U.S. Department of Veterans Affairs-insured, and U.S. Department of Agriculture-insured. Not all mortgage products are created equal.  We will help to select a best program to fit you based on your documentations.

Mortgage points, or discount points, are a way to prepay interest to get a lower interest rate on your mortgage. Each mortgage point equals 1% of your home’s value. That means if you’re getting a $250,000 loan and have two discount points, you’ll pay $5,000. In most cases, a point can reduce your interest rate by one-eighth to one-quarter of a percent.

Here’s what the typical monthly mortgage payment includes:

  • Principal
  • Interest
  • Homeowners insurance
  • Property taxes
  • Private mortgage insurance (PMI), if you put down less than 20% on your home

If you want to pay more on your mortgage, be sure to specify that you want any extra money to go toward the principal only, not an advance payment that prepays interest.

Your mortgage payment may include additional costs like your homeowner’s insurance and property taxes. These are annual expenses that are part of homeownership, and the lender is at risk if you don’t make those payments.

Your lender can add the monthly portion of each of those accounts to your mortgage payment. That money is held in an escrow account that is managed by a third party to make sure those costs are paid on time.


You should definitely think about refinancing if:

  1. You can lower your interest rate enough to justify the closing costs.
  2. You can refinance from an adjustable-rate mortgage to a fixed-rate mortgage.

It’s probably not worth it to refinance if you could lower your interest rate by half a percent. But if it’s going to take another eight years for you to pay off your house and you could lower your interest rate from 6% to 4%.

On a $200,000 mortgage, lowering your interest rate from 6% to 4% could save you about $200 a month. Over the course of eight years, that adds up to more than $19,000. Closing costs to refinance a $200,000 loan cost an average of $2,000. It is worth to pay $2,000 in closing costs to save $19,000 over the long term.

When it comes to adjustable-rate mortgages, refinancing to a fixed-rate mortgage is almost always a good idea. An adjustable-rate mortgage can go up and down, drastically changing your monthly payment. A fixed-rate mortgage is your best option, even if you have to write a check for the closing costs.

When you close, that new house and mortgage are officially yours. At the closing, you’ll sit down with the professionals involved in your real estate transaction and sign all the legal documents needed to give you ownership of your new place. That’s pretty exciting!

You’ll also be responsible for paying closing costs as part of the closing process. Closing costs are typically 3–4% of your home’s purchase price. You’ll receive a Closing Disclosure three days before closing so you know exactly what you can expect.