Local Mortgage Resources

The better-informed you are about mortgages makes you a more prepared home buyer. It is essential to understand the basics of the current mortgage lending guidelines so you will not be surprised long after you enter the home-buying process.

By far, this has been the lowest historical mortgage interest rates based on its first studies in the early 1970s.

(Click on the Chart to enlarge the chart)
** Read Average Rates below

The following articles are geared towards your mortgage preparedness. Please contact 3:16 team REALTY to help you understand the importance of getting pre-qualified even before you begin.

• How to Compare Lenders and Good Faith Estimates
• Two Halves Make a Full Loan Approval
• It All Boils Down to a Smooth and Timely Closing
• When to Lock in Rates
• 100% Home Loans
• Home as a Forced Savings

Mortgage Preparedness Checklist

The mortgage lending guidelines today is not the same like it was just a few short years ago. The sooner you deliver supporting documentations to your lender, the sooner the your lender can fully comprehend your credit worthiness. These supporting documents are typically asked by your lender (but not limited to):

• Paystubs (last 2 months)
• Tax returns (past 2 years)
• W-2s (past 2 years)
• If self-employed, Profit & Loss statements (past 2 years)
• Other income supporting documentations (social security benefits, child support, alimony, etc.)
• Bank statements (Checking, Savings, CDs)
• Asset statements (401K, Roth IRAs, etc.)
• Loan application

Also, be sure to review your credit report with the lender. You may or may not be ready to apply for the mortgage now, but reviewing your credit report will help you in the long run. Credit reports have been known to have mistakes. Sometimes, it may take a while to fix these mistakes. Hence, getting the most accurate copy in order to submit your loan application is best.

** Historical 30-Year Mortgage Rates (from above)

Mortgage Calculators

•  Monthly Payment Calculator
• Affordabability Calculator

Email Loreena CALL TODAY (214) 783-2210 Loreena Yeo lives, plays and works in Frisco TX since 2000. Owner/ Broker of 3:16 team REALTY - a local Real Estate Company. Moving to Frisco TX? The UNOFFICIAL Ambassador of Frisco TX. Search Frisco TX homes now. Position you to become an informed, ready Frisco TX home buyer. Find out how Loreena sells homes in 1/3 of time than the average local Realtor®. Be an informed real estate consumer in Frisco TX. Read raving fans' reviews. CONNECT ON SOCIAL MEDIA PLATFORMS: Like what you read on this blog, subscribe for more eNews & updates. Enter your email address: