How do I apply for a loan with Network Funding?
The easiest way to apply is to download my short form mortgage application, complete it and either mail it or fax it back to me at 713-782-2929.
Please note: because this application contains sensitive, personal information, we suggest that you do not email this form back to us, as email traffic is not secure.
What do I need to consider when applying?
We will look at five primary types of information in determining whether or not you qualify for a loan. These are:
Income
Current levels and type of debt
Credit History
Employment History
The value of the property you are purchasing and the amount of downpayment
There are many unique loan programs available today that make qualifying easier than ever.
Which loan program should I choose?
Like many things, lending has become more complex with the passage of time. There are more programs available for borrowers than ever before. In order to assure that we find the loan most beneficial to you, we should get together and discuss your specific needs. That way, I can match the product that best meets those needs and saves you the most money in the process!
What are points?
A point is one percentage of the amount you are borrowing. By paying points, you can lower the cost of the loan over time. Whether or not it makes sense to do so depends on a number of factors. When we talk, I will appraise you of your options so that you can make the choice that is right for you.
Should I get pre-approved?
Pre-approval is often beneficial to home buyers, because many sellers are reluctant to accept an offer from a buyer who is not approved. Since you're going to have to be approved anyway, it makes sense to do so now. You'll have the added advantage of knowing what you can afford while assuring the seller of your home that you have the ability to complete the transaction. Email or call me at 281-381-1414.
What sort of information will I need to provide?
In order to process your loan, we may need to obtain additional information from or about you. We will help you fill out a loan application, and we may run an independent credit report to verify credit information. In addition, you may be asked to provide documentation such as pay stubs or tax returns that allow the loan processor to verify income.
How long will it take to be approved?
Unlike the past, loan approval is a very fast process today. We can often obtain approval while you wait. After you are approved, we will generate paperwork supporting your loan. You may review this paperwork prior to closing if you desire. While the date of closing may vary, it is likely that you will close your transaction within 30 days of finding the property and applying for your loan.
What makes up a mortgage payment?
Your monthly payment will likely include principal (repayment of the loan amount), interest (the cost of borrowing money) and a portion of the annual insurance and property tax amounts.
What is refinancing, and when should I do it?
Refinancing is the process of replacing your existing mortgage with a new mortgage. Typically, homeowners will refinance in a period of falling interest rates because the new mortgage will be at a lower rate and save the homeowner money. If you think it might be time to refinance, let me know and I can help you determine if it makes sense to do so.
How can I determine the value of a property and obtain property tax information?
The best place to obtain this information is from the appraisal district in which county the property is located. Here are links to the appraisal districts in greater Houston:
Where can I obtain information about economic trends that might affect the housing market in the Houston area?
There are a number of places to obtain this information, but two of the best for Texas residents are The Real Estate Center at Texas A&M University and the Federal Reserve Bank - Dallas. Both of these fine sites contain a wealth of information relating to home buying and financing.
Do you provide seminars or educational events for consumer or corporate audiences?
Yes! Joe Stiles offers answers to mortgage questions
and more through a convenient and customizable Lunch & Learn Program.
Learn more.
Joe, thanks for the great job on our financing. Your professionalism and personal attention are something you seldom find in today's real estate world.
