Mortgage Loan Originator
San Antonio, Texas | Boerne | Helotes | Leon Springs | Dominion | Stone Oak | Alamo Heights | Olmos Park
Welcome to my website! As a professional in the mortgage industry, my top priority is always my client's best interests and satisfaction. I have built a dedicated team that is committed to catering to your individual needs and providing you with exceptional customer service.
My expertise in the mortgage industry and understanding of its nuances allow me to leverage the latest web technologies to provide you with the most up-to-date tools available. I strive to couple my drive for excellent customer service with expert market expertise, attention to detail, and superior negotiating skills to offer you a first-class experience.
I am confident that my team and I can help you navigate the mortgage loan process with ease and ensure that you make informed decisions that align with your financial goals. Thank you for considering my services, and I look forward to working with you.
Common Questions about Home Lending
An escrow account is a separate account that is set up by the lender to hold funds for taxes, insurance, and other related expenses.
A conventional loan is a type of mortgage loan that is not guaranteed or insured by the federal government, such as the Federal Housing Administration (FHA loan) or the Department of Veterans Affairs (VA loan). Instead, conventional loans are offered by private lenders and investors, and their terms and conditions are determined by the lender's own underwriting criteria and credit policies.
In San Antonio, TX, a conventional loan typically requires a down payment of at least 3% to 20% of the home's purchase price, depending on the borrower's credit score, debt-to-income ratio, and other factors. The loan may have a fixed or adjustable interest rate and can be used to purchase a primary residence, a second home, or an investment property. Conventional loans in San Antonio also have limits on the amount of money that can be borrowed, which can vary depending on the property's location and other factors.
An FHA loan is a type of mortgage loan that is insured by the Federal Housing Administration (FHA), which is a government agency within the U.S. Department of Housing and Urban Development (HUD). The purpose of FHA loans is to make homeownership more accessible and affordable for low-to-moderate-income borrowers who may not qualify for conventional loans.
In San Antonio, TX, an FHA loan can be used to purchase a primary residence, and it requires a minimum down payment of 3.5% of the home's purchase price. The credit score requirements for FHA loans are generally more flexible than those for conventional loans, and borrowers with lower credit scores may be eligible to apply. Additionally, FHA loans may allow for higher debt-to-income ratios than conventional loans.
One important feature of FHA loans in San Antonio, TX, is that they have specific loan limits based on the county where the property is located. The loan limits are set by HUD and are updated annually to reflect changes in housing prices. Borrowers who are interested in FHA loans should work with a qualified lender who is approved to offer FHA loans and can guide them through the application process.
In San Antonio, a jumbo loan is a type of mortgage loan that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). Conforming loan limits are the maximum loan amounts that Fannie Mae and Freddie Mac, the two government-sponsored enterprises that purchase most mortgages from lenders, are allowed to buy.
The baseline conforming loan limit for 2023 is $726,200 – up from $647,200 in 2022. If a borrower needs to borrow more than this amount to purchase or refinance a home, they would need a jumbo loan. Jumbo loans are typically used to finance high-end or luxury homes, as well as homes in areas with high housing costs.
Jumbo loans typically have stricter underwriting requirements than conforming loans, including higher credit score and down payment requirements. Jumbo loans also often have higher interest rates than conforming loans, as they are considered to be higher-risk loans for lenders. If you are considering a jumbo loan in San Antonio, it's important to work with a lender who specializes in this type of loan and can guide you through the process.
Homeowners insurance typically provides coverage for a wide range of risks that homeowners may face, such as damage to the home and personal property due to fire, theft, or natural disasters. However, there are also certain exclusions and limitations to coverage that homeowners should be aware of. Here are some common areas of exclusion in homeowners insurance:
Floods: Most standard homeowners insurance policies do not cover damage caused by floods. Homeowners may need to purchase a separate flood insurance policy to protect against this risk.
Earthquakes: Standard homeowners insurance policies typically do not cover damage caused by earthquakes. Homeowners who live in areas prone to earthquakes may need to purchase a separate earthquake insurance policy.
Maintenance and wear and tear: Homeowners insurance does not cover damage caused by lack of maintenance or general wear and tear over time. This means that if your roof leaks because it is old and worn out, your homeowners insurance may not cover the damage.
Intentional damage: Homeowners insurance typically does not cover damage caused intentionally by the homeowner or someone else in the household.
Business activities: Homeowners insurance generally does not cover losses related to business activities conducted from the home. Homeowners who run a business from their home may need to purchase separate business insurance.
High-value items: Homeowners insurance typically has limits on coverage for high-value items such as jewelry, artwork, and collectibles. Homeowners who own these types of items may need to purchase additional coverage.
It's important to carefully review your homeowners insurance policy to understand what is covered and what is excluded, and to consider purchasing additional coverage if necessary.
In Texas, a down payment is a lump sum of money that a homebuyer pays at the time of purchase to reduce the amount of money that they need to borrow from a lender to finance the home.
For a mortgage loan in Texas, the down payment amount is typically expressed as a percentage of the purchase price of the home. The amount of the down payment can vary depending on the type of mortgage loan and the lender's requirements, but it is generally expected to be a certain percentage of the purchase price.
For example, if you are purchasing a home in Texas for $300,000 and the lender requires a 10% down payment, you would need to pay $30,000 upfront and the lender would finance the remaining $270,000. In general, a larger down payment can result in a lower monthly mortgage payment and can also make it easier to qualify for the loan.
In addition to the down payment, homebuyers in Texas may also need to pay other upfront costs, such as closing costs, which can include fees for services such as the appraisal, title search, and loan origination. It's important to factor in all of these costs when determining how much money you will need to bring to the table at closing.
In San Antonio, Texas, the time it takes to get approved for a home loan can vary depending on several factors, including the type of loan, the lender's requirements, and the borrower's financial situation.
In general, the pre-approval process for a home loan can take a week to 45 days, depending on how quickly the borrower can provide the necessary documentation and the lender's processing time. Once the borrower has found a home and submitted a formal loan application, the approval process can take several weeks to complete, as the lender will need to conduct a thorough review of the borrower's financial information and the property being purchased.
Some factors that can slow down the approval process for a home loan in San Antonio include:
Incomplete or inaccurate documentation: If the borrower does not provide all of the necessary documentation or if the documentation contains errors or discrepancies, the lender may need to request additional information or clarification, which can delay the approval process.
Low credit score: If the borrower has a low credit score, the lender may need to conduct additional underwriting and verification processes to assess the borrower's creditworthiness, which can take additional time.
Complex financial situation: If the borrower has a complex financial situation, such as self-employment income, multiple sources of income, or assets in different accounts, the lender may need to conduct additional verification and analysis, which can add to the approval timeline.
Appraisal or title issues: If there are issues with the property appraisal or title, such as a low appraisal or liens on the property, the lender may need to resolve these issues before finalizing the loan, which can delay the approval process.
It's important for borrowers in San Antonio to work closely with their lender throughout the loan process and to provide all necessary documentation and information as quickly and accurately as possible to help streamline the approval process.
In Texas, a home equity loan is a type of loan that allows homeowners to borrow money using the equity in their home as collateral. Equity is the difference between the current market value of the home and the amount still owed on the mortgage. Home equity loans are typically used for home renovations, debt consolidation, or other major expenses.
With a home equity loan, the lender will typically offer a lump sum of money that the borrower can use as they wish. The loan is secured by a second mortgage on the home, which means that the lender has the right to foreclose on the property if the borrower defaults on the loan.
Home equity loans typically have a fixed interest rate and a fixed term, which can range from 5 to 30 years. The interest rate on a home equity loan may be lower than other types of loans, such as personal loans or credit cards, because the loan is secured by the collateral of the home.
In Texas, there are certain requirements that must be met in order to obtain a home equity loan, including a maximum loan-to-value ratio of 80%, which means that the total amount of the mortgage and the home equity loan cannot exceed 80% of the home's value. Additionally, Texas law requires that the borrower must have at least 12 days to review the loan documents and that the loan must be closed in person at the lender's office or at a title company.
It's important for homeowners in Texas to carefully consider the risks and benefits of a home equity loan before applying, as defaulting on the loan can result in the loss of the home. It's also important to shop around for the best loan terms and to work with a reputable lender.
A VA loan is a type of mortgage loan that is guaranteed by the U.S. Department of Veterans Affairs (VA) and is available to eligible veterans, active-duty military members, and surviving spouses. The purpose of VA loans is to help service members and their families purchase a home or refinance an existing mortgage.
In San Antonio, TX, VA loans are offered by private lenders, such as banks and mortgage companies, and the VA guarantees a portion of the loan. One of the key benefits of a VA loan is that it typically does not require a down payment, although borrowers can choose to make a down payment if they wish to do so. VA loans also do not require private mortgage insurance (PMI), which can help reduce the overall cost of the loan.
Another advantage of VA loans in San Antonio is that they typically have more flexible credit score and debt-to-income ratio requirements than conventional loans. Additionally, there is no prepayment penalty for paying off the loan early. VA loans also have specific loan limits, which vary depending on the county where the property is located.
To apply for a VA loan in San Antonio, borrowers must obtain a Certificate of Eligibility (COE) from the VA, which verifies that they meet the eligibility requirements for the loan program. VA-approved lenders can assist borrowers in obtaining their COE and can help guide them through the application process.
A USDA loan is a type of mortgage loan that is guaranteed by the United States Department of Agriculture (USDA). This loan program is designed to help people in rural areas with low to moderate incomes to buy or improve their homes. The USDA loan program offers a number of benefits to eligible borrowers, including low interest rates, no down payment requirement, and flexible credit guidelines.
In San Antonio, USDA loans are available for properties in certain rural areas as defined by the USDA. To be eligible for a USDA loan, borrowers must meet certain income requirements, which vary depending on the location of the property and the number of people in the household. Additionally, the property must meet certain requirements, such as being located in an eligible rural area and being used as the borrower's primary residence.
On the other hand, an adjustable-rate mortgage (ARM) is a home loan where the interest rate can change periodically, typically after an initial fixed-rate period. For example, a 5/1 ARM would have a fixed interest rate for the first five years, after which the rate would adjust annually based on market conditions. The initial interest rate for an ARM is typically lower than for a fixed-rate mortgage, which can make it an attractive option for borrowers who expect their income to increase in the future.
The main difference between a fixed-rate and an adjustable-rate mortgage is the stability of the interest rate. With a fixed-rate mortgage, the interest rate remains the same for the entire term of the loan, providing predictable and stable housing costs. With an adjustable-rate mortgage, the interest rate can change periodically, which can lead to changes in the borrower's monthly mortgage payment.
A pre-approval for a home loan is a conditional commitment from a lender to lend you a specific amount of money to purchase a home, based on a preliminary review of your financial situation.
To get pre-approved for a home loan, you will typically need to provide the lender with certain documents, including:
Proof of income: This can include recent pay stubs, W-2s, and tax returns, as well as documentation of any additional income you may receive.
Proof of assets: This can include bank statements, investment account statements, and other documentation of any assets you have that could be used to qualify for the loan.
Employment verification: This can include verification of your current employment status, as well as any relevant employment history.
Credit report: The lender will obtain a copy of your credit report to review your credit history and credit score.
Once the lender has reviewed your financial information, they will issue a pre-approval letter that specifies the maximum loan amount for which you are approved, along with other terms and conditions of the loan. This letter can be used to demonstrate to real estate agents and sellers that you are a serious and qualified buyer.
It's important to note that a pre-approval is not a guarantee of a loan, and the lender may still need to conduct additional reviews and underwriting before finalizing the loan. Additionally, pre-approval letters typically have an expiration date, so it's important to work quickly to find a home once you have been pre-approved.
In Texas, private mortgage insurance (PMI) is a type of insurance that lenders require borrowers to purchase if their down payment is less than 20% of the purchase price of the home. PMI is designed to protect the lender in the event that the borrower defaults on the mortgage loan.
PMI is typically a monthly premium that is added to the borrower's mortgage payment, and it can vary depending on the loan amount, the down payment amount, and the borrower's credit score. The cost of PMI can range from 0.3% to 1.5% of the original loan amount per year.
Once the borrower has paid down the mortgage balance to 80% of the original purchase price of the home, they can request to have the PMI removed. The lender is required to automatically cancel the PMI once the borrower has paid down the mortgage balance to 78% of the original purchase price, as long as the borrower is current on their payments.
It's important to note that PMI is different from homeowners insurance, which is a separate type of insurance that protects the borrower and the lender against damage to the home or property. Homeowners insurance is typically required by lenders as a condition of the mortgage loan, but it is not the same as PMI.
In San Antonio, Texas, a mortgage broker and a mortgage lender are two different types of professionals involved in the process of obtaining a mortgage loan.
A mortgage broker is a middleman who works with multiple lenders to help borrowers find a mortgage loan that meets their needs. The mortgage broker will gather information from the borrower, including their financial situation, credit history, and the type of home they are looking to purchase, and will then shop around with different lenders to find the best loan options. The mortgage broker earns a commission from the lender for their services, which is typically a percentage of the loan amount.
On the other hand, a mortgage lender is the entity that actually provides the funds for the mortgage loan. The lender can be a bank, credit union, or other financial institution that has the ability to originate and fund mortgage loans. The lender will review the borrower's application and financial information and will make a decision about whether or not to approve the loan. If the loan is approved, the lender will also handle the loan servicing, which includes collecting payments, managing escrow accounts, and responding to borrower inquiries.
In short, a mortgage broker is a professional who helps borrowers find a mortgage loan by working with multiple lenders, while a mortgage lender is the entity that actually provides the funds for the mortgage loan and manages the loan servicing.
A home appraisal is a necessary step in many real estate transactions, including purchases, refinancing, and home equity loans. In San Antonio, home appraisals are particularly important because the city's real estate market has been experiencing significant growth in recent years. Here are some reasons why you might need a home appraisal:
Home Purchases: If you are planning to purchase a home in San Antonio, your lender will require an appraisal before they approve your home mortgage. This is because they need to ensure that the home is worth the amount of money they are lending you. An appraisal provides an objective assessment of the home's value, which helps the lender determine whether or not the loan is a sound investment.
Refinancing: If you already own a home in San Antonio and are considering refinancing, an appraisal is also necessary. When you refinance, you are essentially taking out a new mortgage on your home, so the lender will need to know how much it is worth. The appraisal will help them determine the loan-to-value ratio, which is an important factor in the refinancing process.
Home Equity Loans: If you are looking to take out a home equity loan, an appraisal will be required to determine how much equity you have in your home. The equity is the difference between the value of your home and the amount you owe on your mortgage. The lender will use the appraisal to calculate how much they are willing to lend you based on the equity you have in your home.
Property Tax Assessments: In San Antonio, property taxes are based on the assessed value of your home. If you believe that the assessed value is too high, you can appeal the assessment. An appraisal can provide evidence of the true value of your home, which can help support your appeal.
In conclusion, a home appraisal is a necessary step in many real estate transactions, including purchases, refinancing, and home equity loans. In San Antonio, where the real estate market is booming, an accurate appraisal is particularly important. It can also be useful in property tax assessments, divorce, and estate settlements.
Title insurance is insurance that protects you against any defects in the title of the property.
- Liens on the property for unpaid child or spousal support, repair work, or other debt.
- Unresolved boundary or property survey disputes.
- Undisclosed owners, missing heirs, or conflicting wills.
- Mistakes or omissions on the property deed, including missing signatures.
It's important to review your homeowners insurance policy annually to ensure that it continues to meet your needs and provide adequate coverage. Here are some reasons why:
Changes to your home: If you've made significant changes to your home, such as adding an extension or upgrading your kitchen, you may need to adjust your coverage to reflect the increased value of your home.
Changes to your belongings: If you've acquired new valuables, such as jewelry or artwork, or if you've sold or donated items, you may need to adjust your coverage limits for personal property.
Changes to your lifestyle: If you've started a home-based business, added a pool or trampoline, or welcomed a new pet, you may need to adjust your coverage to reflect these changes and any associated risks.
Changes to the insurance market: Insurance rates and coverage options can change from year to year, so it's a good idea to review your policy and shop around for quotes to ensure you're getting the best coverage for your money.
Discounts and savings: Insurance companies may offer discounts for certain safety features or upgrades to your home, such as a security system or a new roof. Reviewing your policy annually can help you take advantage of these savings.
By reviewing your homeowners insurance policy annually, you can ensure that you have adequate coverage to protect your home and belongings, and that you're not paying more than you need to for that coverage.