Dallas Mortgage

The mortgage industry in Dallas is a thriving business because the rising costs of property in Dallas. With more and more people opting to invest in Dallas, real estate agents are having a field day.

Before accepting loan applications, Mortgage companies consider the following aspects

• Income and living expenses of the applier. This helps the lender know as to whether he will be in a position to repay the loan.
• The lender needs to make sure if the person has enough money to cover the costs of buying a home.
• Whether the applier has other outstanding loans.
• The home in question has to be worth enough to act as collateral for the mortgage

Individuals looking for loans should be primarily concerned with these issues when looking for a mortgage.

• Minimum down payment required for buying a home
• Cost for the private mortgage insurance
• Closing costs
• Can buy discount points or not
• Fixed rate or adjustable loan rate
• Ability to lock rates.

Mortgage owners have adopted many novel approaches to lure customers. Some are

• Small down payment of 3% or even less if one has good credit and steady employment.
• No income verification loan programs.
• No down payment for people with excellent credit record.

• A wide array of programs for borrowers with minor credit glitches to those with major derogatory credit such as bankruptcy, foreclosure, repossessions and charge-off's or collection accounts.
• Cash back at closing costs.
• No out of pocket closing costs.

For a borrower each monthly home payment includes the following costs

• Principal
• Interests
• Taxes
• Insurance costs.

Some Dallas mortgage companies and agents are listed below:

Hardin Mortgage Company
4851 Keller Springs Rd, Suite 209
Addison, Texas 75001
Phone: 214-946-3454 or 1-888-945-4136

Mainland Home Loans, Inc.
13140 Coit Road, Suite 117
Dallas, Texas 75240
Phone: 1-888-432-LEND

Southwest Funding
3767 Forest Lane, Suite 124-1193
Dallas, Texas 75244