Buying Your New Home
Did you know that banks only did about 32% of the mortgages that were approved in 2020? That’s right. Most home buyers did not get their mortgage from a bank. They worked with a non-bank lender, like a mortgage broker (that’s us) or an online lender.
When buying your new home, you should take a few hours to learn about the Pre-Approval process, mortgage insurance and the costs and benefits of loans like FHA and Conventional, and also take a look at FICO scores and how your score determines the price you pay for your loan. Relying on a loan officer who is paid a commission isn’t the same as learning these concepts for yourself.
The educational videos below are free for everyone because I believe that quality advice belongs to every Texas family, not just those who can afford to pay a wealth manager or financial planner. Take the time. Invest in yourself. Learn the details of buying your new home.
Mortgage On A Mission is a mortgage broker, one of about 10,000 brokers nationwide who consult home buyers (and owners) on the best lender offer for their needs. Unlike retail banks, we have access to a variety of lenders, each with slightly different loan types and offers for you. While banks may deny you with a FICO score under 640, we are able to assist you if you have a 580 FICO or higher (for a 3.5% down payment FHA loan). We can also coach you on improving your credit, too. We are paid by our lenders, with no fee from you. Today about 20% of mortgages go through a broker, saving home owners time when comparing lender offers, and often saving money by finding lower rates and fees.
Mortgage On A Mission is a member of the Association of Independent Mortgage Experts and the National Association of Mortgage Brokers. We are accredited with the Better Business Bureau and believe in helping the public know the quality of service they can expect upfront. Our analysis of mortgage bond data, which helps us give our clients better advice, is provided by Mortgage News Daily. We do not charge an application fee and are paid only if we successfully complete your loan. We supported the Texas Homeless Network in 2020 and 2021. In 2022 we will be helping Texas schools create new learning gardens for children, on a first-come first-served basis, starting first with elementary schools in Dallas ISD, Fort Worth ISD, and Houston ISD. We appreciate your referrals of friends and neighbors!
Learn more about the Home Buying Process
12 Documents Every Home Buyer Should Know
The Pre-Approval Letter
How do I know if I can get lender approval for the mortgage?
Mortgage Complexity Assessment
How complicated is my mortgage? Am I at risk of a lender denial, or should I find a low cost lender?
Asking Lenders for a Quote
How do I compare lender pricing upfront without damaging my credit score?
The Seller’s Disclosure
How will I know upfront if there’s something wrong with the home?
The Fee Worksheet
What will the monthly housing payment be, and how much cash will I need to bring at closing?
The Comparative Market Analysis (CMA)
How do I know what price to offer to the sellers to buy their home?
The Purchase Contract
When I make an offer to buy a home, what will I be signing?
Home Inspection Report
How will I discover the true condition of the home, after my offer is accepted by the sellers?
The Lender’s Loan Estimate
How do I know the lender’s interest rate, fees, and other closing costs?
The Home Appraisal
How do I know I’m not overpaying for the house?
Lender’s Underwriter Requirements
What are the final steps to get the lender to give me the mortgage?
The Lender’s Closing Disclosure
What are the final costs, now that it’s time to sign the paperwork, to buy my home?