Last November, the Federal Deposit Insurance Corp., the Office of
Millions of mortgage applications are completed and sent to lenders
The mortgage industry examines a number of factors to determine
A property appraisal is different from a property inspection. The
Lone Star Financing is a DBA of Michigan Mutual, Inc.NMLS #129011525 Lakeville DriveSuite 137Kingwood, TX 77339Texas Recovery Fund NoticeNMLS Consumer Access
Calculated by multiplying loan value using PMI rates: Conventional .75%, USDA 1.00% FHA 1.75% average Texas insurance. For a conventional $200,000 home this is $1,500 or $125 per month. Veteran loans are exempt from MIP and the PMI will be shown as $0 for VA loan calculations.
* Rates shown assume a purchase transaction.
* Annual Percentage Rate (APR) calculations assume a purchase transaction of a single-family, detached, owner-occupied primary residence; a loan-to-value ratio of less than 80% for conventional loans; a minimum FICO score of 740; and a loan amount of $300,000 for conforming loans, unless otherwise specified.
* Annual Percentage Rate (APR) calculations assume a purchase transaction.
* Rates may be higher for loan amounts under $300,000. Please call for details.
* Rates are subject to change without notice.
* Closing Costs assume that borrower will escrow monthly property tax and insurance payments.
* Subject to underwriter approval; not all applicants will be approved.
* Fees and charges apply.
* Payments do not include taxes and insurance.
* Assumes – 30 Day Rate Lock.
* Rates based on Texas property.
* Mortgage insurance is not included in the payment quoted. Mortgage insurance will be required for all FHA, VA and USDA loans as well as conventional loans where the loan to value is greater than 80%.
* Restrictions may apply.
* Lender Fees & Appraisal Fees may apply
Home Owner’s Insurance
Rule of thumb of 1% annually of loan value in most Texas markets. $200,000 loan value = $2000 annually or $166.66 per month. Home owner’s insurance will vary by market and we encourage you to visit with your local insurance agent for actual insurance rates.