subject: Get The Best Houston Mortgage Refinance [print this page] Mortgage Associates of Texas was established in 1994 in Houston, Texas. It is locally owned and operated by John Frels. The primary mission of the organization is to save clients from the impersonal service being provided by many large banks and mortgage companies. You will be able to find the best Houston Mortgage Refinance options here.
Mortgage Associates of Texas offers a large variety of conventional and government loan programs which will help you with refinancing, purchasing, and loan modifications. Their team consists of experienced professionals who aim to help you find the mortgage program that is best for you and fits perfectly with your circumstances, needs, and wants.
They are located and operated locally, and thus all work is also done locally. You will be in touch with real people from the beginning to the end; there will be someone to guide you from processing to underwriting to closing.
Mortgage Associates of Texas services almost all of Greater Houston: Houston, Katy, Richmond, Rosenberg, Jersey Village, Sugarland, Missouri City, Friendswood, Clearlake, League City, Galveston, Seabrook, Pasadena, Deer Park, Channelview, Baytown, La Porte, Spring, Humble, Kingwood, The Woodlands, Conroe, and Tomball.
Their team will offer you with all the solutions you need with regard to Commercial, Residential, and Small business mortgages. They will adjust loans that are right for you according to your demands:
1.Purchase/ Refinance
2.Investment Properties
3.Mortgage modifications
4.Home Improvement
5.Construction
6.Reverse Mortgage Loans
7.Debt Consolidation Loans
8.Commercial and Small business loans
Each of these loan types will require you to meet certain specified criteria. The loan process will take you through a series of steps which will include:
- Pre-Qualification: This stage will help the lender determine how much the borrower can pay for a house. The borrower's income and debts will be used to determine the amount.
-Mortgage programs and rates: A borrower should choose a mortgage plan depending on the number of years he/she is planning to stay in the house.
- Application: This is the actual start of the loan process. The borrower will complete the application and submit all the required documents.
- Processing: Once the application is completed, the loan is being processed. The processors review the Credit Report, Title Report and Appraisal Report. They verify all data provided by the borrower in the application form.
- Required Documents: If the borrower is self employed, he/she is required to submit a copy of their tax returns for the last two years. In case he/she is required to submit W-2s for the last two years and pay stubs for one month.
- Credit Reports: It is always advisable to get a copy of the Credit Report when applying for a mortgage. This will help you to correct anything negative before applying for the mortgage.
- Appraisal Basics
Underwriting:
- After all verification has been done by the processor, he/she sends the file to the lender. The underwriter is responsible for deciding whether the loan is accepted or not.
- Closing: After approval of the loan, the file is sent to the closing and funding department.
- Summation: It will take 2-3 business weeks for the mortgage transaction to complete.
by: Rodney I. Burns
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