Welcome and Thank You for Trusting Me with Your Mortgage Needs

Kathy Brock TXLO# 71972

 

You will only think about home financing a few times during your life. I think about it every single day. It's your home and your future. It's my profession and my passion!

936-537-5355 cell

800-528-8969 fax

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Jump to mortgage rate information...

Changing Federal Rates ...

Many people are surprised to learn that mortgage interest rates can change on a daily and sometimes hourly basis. Interest rates fluctuate in response to changes in the financial markets. The bond market is generally the best indicator of the general trend for mortgage interest rates. What you need to understand is that the interest rates that are available on one day, may not be available the next, and so you should be prepared to lock when the time is right for you.

Here are four simple questions your lender absolutely must be able to answer correctly.

What are mortgage interest rates based on? The only correct answer is Mortgage Backed Securities or Mortgage Bonds, NOT the 10-year Treasury Note. While the 10-year Treasury Note sometimes trends in the same direction as Mortgage Bonds, it is not unusual to see them move in completely opposite directions.

What is the next Economic Report or event that could cause interest rate movement? A professional lender will have this at their fingertips.

When the Fed "change rates", what does this mean. and what impact does this have on mortgage interest rates? The answer may surprise you. When the Fed makes a move, they can change a rate called the "Fed Funds Rate" or "Discount Rate". These are both very short- term rates that impact credit cards, Home Equity credit lines, auto loans and the like. On the day of the Fed move, Mortgage rates most often will actually move in the opposite direction as the Fed change. This is due to the dynamics within the financial markets in response to inflation.

Do you have access to live, real time, mortgage bond quotes? If a lender cannot explain how Mortgage Bonds and interest rates are moving in real time and warn you in advance of a costly intra-day price change, you are talking with someone who is still reading yesterday's newspaper, and probably not a professional with whom to entrust your home mortgage financing.

Please do not hesitate to contact me if you have any questions, or are in need of further assistance!

Welcome | Loan Types

Fixed Rate Loans

The most common type of loan programs, where monthly principal and interest payments never change during the life of the loan. Fixed rate mortgages have 15, 20, 30 and even 40 year terms.

Adjustable Rate (ARM)

ARM loans have interest rates that can vary during the loan's term. These loans usually have a fixed interest rate for an initial period of time and then can adjust based on current market conditions.

Hybrid ARMs

Hybrid ARM types of mortgages are also called fixed-period ARMs, and combine features of both fixed-rate and adjustable rate mortgages. (3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM)

Interest Only Loans

In interest only loans, the monthly payment does not include the repayment of principal for a certain period of time.

Balloon Loans

When you have a note rate that is fixed for an initial period of time, and then the remaining principal balance is due at the end of the term.

Reverse Mortgages

This is a type of home equity loan that allows you to convert some of the equity in your home into cash while you retain home ownership.

VA Loans

For qualified buyers, VA loans are guaranteed by the federal government; therefore, the federal guarantee makes you a relatively low risk borrower, which provides you with more attractive loan terms. A Certificate of Eligibility is required.

Welcome | Mortgage Rates