My name is Benard Wright, the owner of Wright Mortgage. I have over ten years of experience in the mortgage industry. I have helped many individuals to live that American Dream-owning a home. Also, I have helped homeowners with refinancing their home to lower their monthly mortgage payment and to take equity out of their home for home improvement needs. I have broad knowledge of mortgage products available for first-time home buyers as well. I believe that integrity and communication are essential to forming a successful relationship.
If you are looking to refinance your mortgage or looking for a new home loan and lives near Pearland or Missouri City, or surrounding communities such as Manvel, Fresno, Rosharon, and Houston I'm here to help. I have been in the mortgage industry more than 10 years we are efficient, knowledgeable and have great rates. Wright Mortgage is geared toward our local areas of Pearland, Missouri City, and also surrounding communities such as Manvel, Fresno, Rosharon, and Houston. I am a mortgage and home loan specialist in our community and I would be happy to help you with all of your mortgage needs!
DETAILS ON THE TEXAS HOMEPATH LOANS:
Low Down Payments
If you're looking to buy a primary residence to live in you'll need only a 3% down payment to qualify for a Homepath mortgage. You'll need a 10% down payment for an investment property.
You're Not Disqualified If You Already Own A Home
You can already have a mortgage on ten homes and still qualify for a Homepath mortgage. You'll need a 25% down payment though if you already are financed on four properties or more. This is great news for investors!
No Appraisal Is Required
An appraisal is not needed for a Homepath mortgage. If you're concerned about an appraisal coming in a little low you probably shouldn't be paying that much for the property anyway. Be careful here. If your serious about making an investment, consider getting your own appraisal just to be on the safe side.
PMI or Private Mortgage Insurance Is Not Required
This is a great advantage to a Homepath mortgage! Depending on the value of the home you can end up making an insurance payment every month that will cost you anywhere from $20 a month to hundreds. You wont run into this added insurance expense with Homepath.
Jumbo or High Balance Mortgages Available
Sometimes with a mortgage that is as flexible as a Homepath mortgage you can't get larger loans.
Sellers Can Contribute To The Mortgage (Seller's Concessions)
Another great advantage of a Homepath mortgage! The amount that the seller can contribute varies. It depends on how large your down payment is. Sellers can only contribute 2% on an investment property.
Disadvantage - Rates Are Higher Than 30 Year Conventional
You can buy discount points to bring down your rate to the national average 30 year conventional mortgage rate. Remember that you wont be paying private mortgage insurance. Depending on the size of your loan and your down payment you may actually break even though on the monthly payment when you factor in the lack of PMI and seller's concessions.
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My skills are...
Looking to refinance your mortgage or looking for a new home loan and lives near Pearland or Missouri City, or surrounding communities such as Manvel, Fresno, Rosharon, and Houston I'm here to help.