For those that are first time home buyers doing research online:

You will learn a lot, but putting it together for YOUR personal home loan will require a real one-on-one relationship with your mortgage broker.

Pro-Tip #1: it is up to you what interest rate you want within a given range. Your decision will be based on how much upfront costs you want to pay VS how much you want to save in the long-run. If you choose a higher rate, then you will need less money to close with. If you choose a lower rate, your cash to close will be relatively higher.

Pro-Tip #2: Focus more on your actual monthly payment amount. There are several ways to lower it. You can obviously pay more up front for a lower rate. Don't forget to talk to your insurance agent to lower your premium! You may even file for a Homestead Exemption!

I like to give my borrowers an Excel file to compare side-by-side how different loan factors will pan out over the life of the loan.

Email me for your copy: [email protected]

Franangelico Ona owns and operates BIC Mortgage Company, LLC in Dallas, TX.

Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, NMLS# 1203087
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, Franangelico Ona LO NMLS# 1078345 or Licensed by the Department of Business Oversight under the California Finance Lenders Law, Franangelico Ona LO NMLS# 1078345
BIC Mortgage Company, LLC, 13151 Emily Road Suite 100 Dallas, TX 75240, NMLS# 1203087 , Residential Mortgage Loan Company