My name is Richard Smith. I want to thank you for taking the time to visit my website, where I guarantee you'll find plenty of helpful information to assist you in purchasing your new home or refinancing your current mortgage. I am a Mortgage Banker serving Katy, Texas and the surrounding areas. Purchasing a home is most likely the largest financial transaction of your life.
Unfortunately, most people enter into this transaction blindly and make mistakes that may cost them tens of thousands of dollars over the lifetime of their loan. Although sharing these secrets may not make me popular with the other Texas mortgage bankers, I am more concerned that you have all the information you need to make an informed decision when shopping for a mortgage.
So, I have created a free guide that contains extremely valuable information designed to help you avoid costly mistakes when navigating the mortgage loan process.
Unfortunately, most people enter into this transaction blindly and make mistakes that may cost them tens of thousands of dollars over the lifetime of their loan. Although sharing these secrets may not make me popular with the other Texas mortgage bankers, I am more concerned that you have all the information you need to make an informed decision when shopping for a mortgage.
So, I have created a free guide that contains extremely valuable information designed to help you avoid costly mistakes when navigating the mortgage loan process.
Services
We know that you are not always able to find an answer to every question on our website.
That's why we encourage you to ask us a question.
One of the knowledgeable members of our team will respond shortly with an answer to any question you may have.
If you would like to speak with someone to ask your question, you can also reach us at our Katy, Texas Mortgage Office at (832) 887-1300.
That's why we encourage you to ask us a question.
One of the knowledgeable members of our team will respond shortly with an answer to any question you may have.
If you would like to speak with someone to ask your question, you can also reach us at our Katy, Texas Mortgage Office at (832) 887-1300.
My customer service philosophy is pretty simple - Provide superior customer service in all aspects of what I do and help you by presenting you with education and tools to allow your home-buying experience to be as pain free and cost saving as possible.
I am a big fan of great customer service.
Most people say I tip too much at a restaurant.
But I appreciate great service, and it seems lately that great service is hard to come by.
I will go out of my way to shop at places that provide great service.
I am a big fan of great customer service.
Most people say I tip too much at a restaurant.
But I appreciate great service, and it seems lately that great service is hard to come by.
I will go out of my way to shop at places that provide great service.
How much you can borrow from a lender?
Use this calculator to calculate the amount you can afford from the lender's point of view.
Before you start looking for a new home, you need to have an idea of how much you can afford to pay for a home.
To find this out, you will need to take a closer look at your total monthly household income as well as the debts and regular monthly payments you are already making.
In addition, you will need to consider how much money you can put in down payment, the loan interest rate, and the length of the loan.
Use this calculator to calculate the amount you can afford from the lender's point of view.
Before you start looking for a new home, you need to have an idea of how much you can afford to pay for a home.
To find this out, you will need to take a closer look at your total monthly household income as well as the debts and regular monthly payments you are already making.
In addition, you will need to consider how much money you can put in down payment, the loan interest rate, and the length of the loan.
Calculate your monthly payment with applicable financial charges, PMI, hazard insurance, and property taxes.
As you can see, your payment will vary depending on how much you will be borrowing, the interest rate, and the length of your loan.
Other factors also need to be taken into consideration, such as your taxes, your insurance, and your PMI, all of which are included in your monthly house payment.
Even the value of your home will affect your payment.
Since your loan to value ratio is 83.33%, you will also have to pay PMI for 31 months and this will tack on an extra $177.08 a month.
As you can see, your payment will vary depending on how much you will be borrowing, the interest rate, and the length of your loan.
Other factors also need to be taken into consideration, such as your taxes, your insurance, and your PMI, all of which are included in your monthly house payment.
Even the value of your home will affect your payment.
Since your loan to value ratio is 83.33%, you will also have to pay PMI for 31 months and this will tack on an extra $177.08 a month.
Is it financially better to buy a home or to rent?
The answer to this question depends upon how much the home costs, how much you are paying for rent, and how much you will have to pay each year in order to maintain your home.
If you were to pay $800.00 per month, for example, and the average rental payment increase was 4.000%, you would pay $51,996.70 in a 5 year period toward rent.
When you consider your tax benefits and the appreciation of your home, however, you will actually SAVE money by purchasing a home.
The answer to this question depends upon how much the home costs, how much you are paying for rent, and how much you will have to pay each year in order to maintain your home.
If you were to pay $800.00 per month, for example, and the average rental payment increase was 4.000%, you would pay $51,996.70 in a 5 year period toward rent.
When you consider your tax benefits and the appreciation of your home, however, you will actually SAVE money by purchasing a home.
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