Different Mortgage Approval Components Offered By Mortgage Lender

 

Texas Premier Mortgage is a local Houston mortgage lender company. We offer experienced and local knowledge to get you the lowest rates and fees.

Different mortgage approval components:

Debt-To-Income (DTI) Ratio –

A borrower’s DTI Ratio is the size of their income to regular credit and housing liabilities. The lower the DTI ratio a borrower has the more self-assured the lender is about getting paid on time in the future based on the loan terms.

Loan-to-Value (LTV) –

Loan-to-Value is a term mortgage broker Houston uses when associating the difference between the outstanding loan amount and a property’s value.

Credit –

Credit score and history are used by moneylenders as a tool to regulate the possible risk related to a borrower. While lenders see multiple open lines with a minimum of 24 months reporting history, some loan options allow debtors to use other forms of credit to qualify for a loan.

Property types -

The type of property, and how you plan on dwelling in the residence, plays a major role in securing mortgage financing.

Mortgage programs –

Whether you’re looking for 100% funding, low down payment choices or want to roll the costs of promotions into a rehab loan, each loan program has its own qualifying guidelines. There are government protected loan programs, such as FHA, USDA and VA home loans, as well as conventional and jumbo financing.

Contact the best Houston mortgage lender company today!

Everything You Need To Know About Cash-Out Refinance Loans

 Texas Premier Mortgage provides home loans in Houston. We put together local and experience knowledge to get you the lowest rates and fees. 

Mortgage programs we offer–

Whether you want 100% financing, want to roll the costs of upgrades into a rehab loan or low down payment options, each loan program has its own qualifying terms and conditions.

We also offer government assured loan programs, like VA home loans in Houston, FHA, USDA and conventional and jumbo financing.

Our loan professional will take care of individual property type scenarios, LTV, DTI, and Credit to determine which loan program fits your needs and goals.

What is cash-out refinance loans and how does it work? 

Cash-out refinance loan allows you to use the equity in your home to take out a larger loan.

The new loan pays off your previous mortgage, then you receive the difference between the two, minus closing costs, as cash. Like conventional loan refinancing, your new loan will most likely have different terms than the old one. 

If you think the cash-out refinance loan is right for you, Contact Texas Premier Mortgage to be your lender with the best deal. We compare multiple options and see prequalified rates in as little as three minutes.