Vince Gutierrez Mortgage - Helping Texans with Texas Mortgage Loans.

CONSUMER COMPLAINTS AGAINST MORTGAGE BROKERS, MORTGAGE BANKERS AND STATE SAVINGS BANKS DOING BUSINESS IN TEXAS   You have the right to file a complaint against a state savings bank, mortgage broker or mortgage banker if you feel you have been wronged in any way regarding your financial dealings and or transactions. On the homepage of this website (left side), click on the “Complaints” button.  Read and follow the instructions carefully.  If you have any questions or  if any clarification is needed, please contact us at www.sml.state.tx.us/contacts.html, fax us at (512) 475-1360, call the number(s) furnished at the bottom of the instructions page, or at our toll free Consumer Hotline, (877) 276-5550.  Of particular interest to those wishing to file a complaint against a mortgage broker, the Texas Department of Savings and Mortgage Lending maintains the Mortgage Broker Recovery Fund to make payments of certain types of judgments against a mortgage broker or sponsored loan officer.  Not all claims are compensable and a court must order the payment of a claim from the Mortgage Broker Recovery Fund before the claim may be paid.  For more information about the Mortgage Broker Recovery Fund, please consult subchapter F of the Mortgage Broker License Act “Statutes and Regulations” link found under statutes www.sml.state.tx.us/Stats&Regs.html.

Texas Mortgage Loans by Vince Gutierrez Mortgage

Texas Savings & Loan License For Vince Gutierrez (the broker) #16011. Broker's entity license 76630 (Vince Gutierrez, Inc)

7419 W. Suddley Castle St.  *  Houston, Texas 77095

Office: 281-597-9234  *  Fax: 281-754-4515  *  Email Us


 

"If All Other Attempts Have Failed and You Still Don't Have A Loan, You Need To Contact Us Now "

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We offer a complete line of Texas mortgage loans, Texas home equity loans and Texas mortgage refinance loans for all types of borrowers with low Texas mortgage rates.

How Much Down?

Down payment - How Much is Needed?

When buying a home you may be required to make a down payment depending on numerous factors, such as your credit score, your debt to income ratio, your employment information, the amount of money you have in reserves and various other factors. Consult with a mortgage professional to see how much of a down payment you would need to come up with to buy a home. You may even be able to buy a home without making a down payment at all. This is often referred to as 100% financing. Many homeowners buy their homes without a down payment so that they can save their cash for other things or for emergencies.

Your Down payment will depend on:

-If your seller is going to help contribute to the purchase of your home.
-If you qualify for a 100% LTV mortgage
-Your credit score
-Length of employment

In determining how much of a down payment is needed consider your risk tolerance. If a low down payment is made then potentially you could have problems if the value of your home declines. With a larger down payment you can sleep soundly knowing you have enough of a cushion to protect against any downturn.

It is also important to have some savings to fall back on after you close on a home. You may be better off with a smaller down payment with some savings for unexpected expenses or necessary repairs and updates. For each additional $1000 put down on a home, the monthly payment reduction is generally less than $7.

Many times you can qualify for better financing terms if your have 2 months mortgage payments in reserves after closing. This shows savings for unexpected circumstances and reduces the risk associated with a loan.

A popular source of down payment for First Time Home Buyer's is a gift from family. Not only does the down payment make the loan less risky to the lender, the buyer's payment is often reduced to a manageable level as well.

The amount of down payment required in relation to house price changes with economic conditions. During times of market contraction and credit crunch, banks tend to set higher down payment requirements.

While mortgages are still available with no down payment or as little as 3% down payment for qualified borrowers seeking mortgages of $417,000 or less, borrowing more than this will require a down payment o 5% to 20% depending on your credit score and ability to document income.

Call me today 281-597=9234 or e-mail me.
 
 Vinni100@netzero.net

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