FAQs For Home Buyers

What is the best type of financing for our particular family's situation?

You can follow the "Get Started" menu on this site or contact me at 281-686-7287 through a phone call or text. We can sit down and go over your financing options at your realtor's office, phone, or on line via a Citrix Secure "Go To Meeting." You can follow the pre-qualification links or email me, and I can get you started via email if that's in your comfort zone; mbaker@securemortgagecompany.com.  I'm a 33 year tenured, Sr Manager, that is a licensed mortgage originator and I will explain all of your financing options. First things to consider: family size, how long you plan to stay in the home, current and projected income and debts, credit history, and cash available to close. We are uniquely positioned and have every tool to discuss all of the financing options available.

Can the seller pay for my down payment?

No. However, we have 3.5% total move in FHA Loans where down payment can be a gift from a relative or non-profit organization. Borrowed funds are acceptable if the loan is secured. The seller can pay for borrower's closing costs if negotiated. If you're still needing assistance with cash to close, I can provide lender credits. The key is experience and the ability to provide you the tradeoff tables to make good decisions that fit your needs. Example: Veterans can finance 101.25% and move in for $1. 

What if I have no money at all?

There are programs that offer a no, or minimal down-payment options. We can consider all of the above; gift, seller contribution, or lender credits. If minimizing out-of-pocket money to buy a home is your goal, we can start there. Additionally, we can show you new construction options or timetables for saving funds for closing. 

How do we get prequalified for our first home?

By answering the questions in the online application section or phone consultation. Both can give you a ballpark idea of what price range you can afford. The next step is to get preapproved so that the money you need is already committed to you -- this gives you the strength of a cash buyer when you make an offer. Everyone is encouraged to make full application.