Get the guidance you need today!
Let Nacol be a resource for you in one of the following ways:
Whether you are a first-time homebuyer or a seasoned investor, you will be in good hands!
First Horizon offers:
Nacol has been in the mortgage industry since 2013. She has worked at small mortgage companies and the big banks. She has been a loan officer and also has assisted top ranking loan officers in the U.S. In her career, she has closed over 1500 transactions.
She has closed all types of mortgages and worked with simple W2 borrowers as well as borrowers with highly complicated tax returns.
“I pride myself in delivering white glove, concierge level service to all my clients. I believe there is a solution to most problems and have built my career on delivering those solutions as quickly as possible. Please allow me the chance to earn your business. Thank you!” -Nacol
Nacol currently lives in Garden Oaks/Houston area with her husband and 2 boys. She spends her time with her friends and family and attending any sporting event (from her son’s tee-ball games, to cheering on the Astros and her beloved Fighting Texas Aggies).
Please reach us at nacol.waligura@firsthorizon.com, if you cannot find an answer to your question.
That's what I'm here for! After you fill out an application, we can deep dive into all the loan options available and what your long term and short term goals pertaining to homeownership. Anything you can share with me helps too (only going to live in the house for a year, have a financial windfall coming, using the home as an investment or to run a business, etc.). This is potentially the biggest asset you have; let's make it work for you.
Down payment is the minimum investment required or chosen for any given loan program. For FHA, the minimum is 3.5% and for conventional financing the minimum is 3%.
Cash to closing is the amount of money you are estimated to bring to the tite company for closing. This includes the down payment, lender and title closing costs plus your pre-paids for per-diem interest, the first year of homeowner's insurance and escrow cushions.
The lender establishes an escrow account for you to pay your taxes and/or insurance into the account monthly, so that when these bills are due, the mortgage servicer can pay those bills on your behalf.
The advantage to having an escrow on your mortgage is that the loan is deemed less risky, since those bills will be paid each year, so your interest rate could be lower.
This is not to be confused with the title escrow who is a neutral third party who manages funds for a property until the transaction is completed.
PMI is private mortgage insurance. It is required on all conventional loans where a borrower puts less than 20% down.
PMI is collected monthly on any loans that do not have 20% down. It is typically cheaper the more you put down as it is a function of the loan amount (i.e. if you put 10% down the monthly PMI is less than if you put 5% down).
There are loan programs that do not require PMI (call to see if you qualify).
There are also ways to avoid paying PMI or ways to reduce it:
No. Here are the loans that do NOT:
Yes. FHA requires monthly mortgage insurance and an upfront mortgage insurance premium, which is added to the loan amount and financed.
If you put 10% down or more on an FHA loan, then you can stop the MIP (Mortgage Insurance Premium) after 11 years. The only other way to remove it, is to refinance into a conventional mortgage once you have 20%+ in equity.
It's ALWAYS a good idea to work with me to understand mortgage insurance and how to limit/avoid it.
A discount point is a fee charged for an interest rate chosen. The interest rate will be lower than the rate offered with no charge. This fee is a one-time fee that increases the closing costs.
The question is what the return on the investment of a discount point is? Another way to phrase that is how long does it take for the lower interest rate to pay for itself. As part of every loan application, I run ROI analysis and present discount points for all applicants.
Also, interested parties (lender, Realtor, builder and/or seller) can contribute to help pay for discount points/cash to closing. See FAQ on "HELP with my cash to closing".
Yes! Here are some ways:
If you have a mortgage, you are required to hold homeowner's (or Hazard) insurance. If the property you are closing on is designated in a flood zone, you are also required to have flood insurance. If you decide to waive your escrows and your property is in a flood zone, you will also be required, by FEMA, to escrow your flood insurance in your monthly mortgage payments.
As part of the initial loan documents, I will send a request for insurance with the loan requirements that you can share with your insurance agent of choice.
Hazard and flood insurance are in addition to mortgage insurance if you are putting less than 20% down or using an FHA loan.
Feeling overwhelmed is normal. This is a big commitment and a source of great wealth.
YES.
Each agency offers a free online homebuyer education course.
In fact, they require any first time homebuyer that is putting 3% down or using certain programs to complete a course and provide the certificate. BUT WAIT, it depends on which agency I have you locked with, so if you are required to take a course, wait for me to send you an email with a link to the correct course for your loan.
FANNIE MAE- HomeView Homebuyer Education | Fannie Mae
FREDDIE MAC - Freddie Mac CreditSmart® : Freddie Mac CreditSmart
Great question. And it depends on what loan program.
Best thing to do is fill out my online application and start with allowing me to pull a credit report.
Need a better score, I'll help guide you on what steps to complete to achieve that as well.
Call or email for a free consultation today!
Cell: 281-352-9627 Email: nacol.waligura@firsthorizon.com
Monday - Friday: 9am - 5pm
Saturday: By appointment
Sunday: Closed
Text me 24/7
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