Pay for Credit Report

Are you applying for a loan with a co-borrower that is your spouse? Click here to pay for two credit reports. 

Are you applying for a loan as a single, un unmarried person? Click here to pay for just one credit report.

Price Match Policy

To comply with Section 1026.36(d) of Regulation Z (12 C.F.R.§ 1026.36(d)), we are able to match a competitor lender offer in some situations, but there are certain procedures we must follow to document our compliance with mortgage broker regulation.

These requirements are outlined by the Consumer Financial Protection Bureau under Regulation Z.

Our company policy is always to comply with federal and state laws and regulations, and to do what is in the best interest of our clients at all times. You can review our Price Match Policy, which may be updated from time to time as regulations are modified or as we feel is necessary to better serve our communities across Texas.

Streamline Pre-Qualification

For home buyers with simple needs, we do offer a program which provides a $1000 credit at closing. Review our Streamline Pre-Qualification Survey to see if you qualify for this program. For clients needing multiple mortgages for multiple properties within a 12-month time period, we also offer additional savings.

Texas Mortgage Company Disclosure

OUR TEXAS MORTGAGE BROKER LICENSE IS NMLS #2014212. BEN STRUBE IS LICENSED AS A LOAN ORIGINATOR UNDER NMLS #1541555. BEN STRUBE IS A REAL ESTATE AGENT LICENSED IN TEXAS UNDER TREC #77740.

GRAMEEN MORTGAGE LLC D/B/A “MORTGAGE ON A MISSION” IS LICENSED UNDER THE LAWS OF THE STATE OF TEXAS AND BY STATE LAW IS SUBJECT TO REGULATORY OVERSIGHT BY THE DEPARTMENT OF SAVINGS AND MORTGAGE LENDING

Figure: 7 TAC 80.200(b) “CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705.

COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.

A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS.

A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV

Privacy Policy

If you have applied for a loan with us, or just provided your contact information, we will respect your right to privacy. We will conduct our communication with you primarily by email, and by phone call as needed. Our website may collect data about your visit to our site to help us improve our service. For more details, you may review our full Privacy Notice.

Your Right to Know

As a licensed mortgage broker, regulated by federal and state law, our compensation is paid by the lenders in our network. We do not have the ability to set our compensation for your loan higher than our lender-paid compensation, which only changes every 3 months. We may choose to reduce our lender-paid compensation, in keeping with our Price Match Policy.

As a mortgage broker, we will submit your loan application to one or several of our participating lenders. We do not work with all lenders who can make you an offer. We only work with lenders that we feel can make you an appropriate and responsible offer for your home lending needs.

We will be compensated in compliance with federal law, specifically Section 1026.36(d) of Regulation Z (12 C.F.R.§ 1026.36(d)) (if applicable) and pursuant to state law, specifically Sections 156.004(b) and 156.102 of the Residential Mortgage Loan Company Licensing and Registration Act, Chapter 156, Texas Finance Code.

We will be compensated either by the lender, or by you as the borrower, but not by both. Our compensation is the same, regardless of the loan terms (FHA or Conventional, fixed rate or adjustable rate, 15 year or 30 year term, for example).

Our recommendation to use a specific lender is made based on our professional opinion that the lender’s offer is in your best interest. Because we are not paid if you do not finish your loan with us, we only make money if you do your loan. If you are not sure about taking out a mortgage, you should seek the advice of a housing counselor. You can find a list of counselors in Texas on the federal Department of Housing and Urban Development website.

Our compensation is a percent of the loan amount, and is capped at a maximum compensation per loan. We are paid less than the federally permitted maximum compensation for brokers, for a loan of $300,000. In fact, we are paid over $2000 less than permitted by law. We receive the same compensation for a loan amount of $220,000 as we do for larger loans. If we recommend a Cash Out refinance instead of a Rate/Term refinance, if both loan options are greater than $220,000, we are compensated the same and our advice is in your best interests.

Our lenders allow us to modify our lender-paid compensation every 3 months (90 days). We will not modify our compensation on your loan after our lender sends their Loan Estimate, because we are not permitted by law to do so, unless it is for the purpose of reducing our compensation.

We are unable to provide tax advice regarding how a mortgage will impact your tax return or how to file your income tax return. Consult with a CPA and always file an accurate tax return which reflects your true income and allowed deductions and expenses.

Our compensation will be disclosed to you on the Closing Disclosure.


Insured Pre-Qualification Letters

 

Not all loan applicants will be eligible to receive an insured Pre-Qualification Letter from us. Due to the risk we are taking on, we offer this service on a case-by-case basis only. Receiving an insured Pre-Qualification Letter does not guarantee approval by the lender. It does not guarantee that if you are denied by the lender that we will reimburse you for monies spent paying for an option fee, home inspection, appraisal, or earnest money deposit. To receive reimbursement, you will need to follow all instructions and meet all conditions listed on the Pre-Qualification Letter, and other conditions beyond your control must also be met (employer verification, appraised value, etc). A loan application that is not accurate will result in a denial of reimbursement.

Service Referrals


Rental Property Management

 

Curious about keeping your home as a rental? Ask a property management company to prepare a cash flow analysis, to show you the likely monthly rent, property expenses, home appreciation, and other considerations when deciding whether to sell your home or retain it as an investment. All you’ll need to buy your new home is a signed 12-month lease agreement and receipt of first month’s rent and security deposit.

Expect to pay around 10% of rental income to hire a management company to market your home, review tenant applications, collect rent, answer 24/7 service calls from tenants, and prepare year-end tax forms. We may have better pricing with these companies, because of our relationships with them, so ask us before you sign up. We do not receive compensation from them.

Knox Financial          MYND


Real Estate

 

Need a real estate agent? It’s hard for us to know the best agents in each of the communities we serve in Texas. You might have a better chance finding a great agent by asking your friends, co-workers, and neighbors who they have used in the past. Avoid giving your information to Zillow, Realtor.com, Redfin, or Open Door. Your information may be sold, or the agents they connect you with will be paid less, making it hard to find a well-experienced, quality agent. Feel free to bring our recommended interview questions with you, when you sit down to meet with an agent and see if they’re the best fit for you: the ten questions you should be asking your agent (before you hire them).


Financial Planning

 

Sometimes we will be able to answer your basic questions about financial planning. But sometimes, your questions are beyond our area of expertise. You may benefit from hiring a Certified Financial Planner, someone with years of experience providing unbiased, fee-based advice to help you plan for what’s next in life.

Expect to pay $1800 – $2400/year to retain a Certified Financial Planner (a CFP) who will provide monthly or quarterly consultations. Service is normally for a one-year commitment, paid monthly. Because finding the right CFP can be a challenge, we like these two companies that make the search easier.

Facet Wealth        Zen Financial

 


Outside of Texas

If you are planning to buy a home in the next 4 months, let us know in advance. If we can identify a mortgage broker in your state that is willing to offer you a good price, we can help you negotiate and refer you to them. Because it is prohibited by law, we are not paid anything for a referral. We can answer questions regarding Pre-Approval, loan programs, and then act as your negotiator.

If we’re unable to find a referral partner to give you a good price, we can obtain licensing in that state so we can serve you ourselves. In California, it is hard for us to find mortgage brokers who will offer fair pricing. We are in the process of obtaining California licensing now. States below that are colored in Red will require 90 days notice for us to obtain state licensing. States in all other colors only require 60 days notice for us to begin the process. For New York, Alaska, and Hawaii, we will always refer you to another company.