Home Loan and Mortgage Solutions

Purchase

Whether you are purchasing your first home or you’ve purchased several through the years, it’s helpful to stay current on the latest and most recent updates to the home buying process. PrimeLending has compiled this home buying guide to provide you vital information you need to know for one of the largest financial investments you can make.

Refinance

Throughout homeownership, it is always valuable to keep an eye on your options. Refinancing your current mortgage can provide outstanding and long-term benefits as well as help you meet your changing financial needs. To help keep you aware of the process and let you know all the key information, PrimeLending has provided this refinancing guide.

FHA Loans

The McCormick Team offers Federal Housing Authority (FHA) loans, giving buyers the lowest down payment option and most flexible credit standards available to non-veterans (excluding those buying in rural areas). However, there are some draw backs to this option. It requires two types of mortgage insurance and places strict limits on the amount of loan that you can take, potentially limiting the amount and size of home you can buy. We are happy to provide you with side by side comparisons that help you to knowledgeably explore your mortgage options. If you think that FHA might be the best option for you, please contact one of our Loan Officers for a free consultation.

Conventional

Conventional loans are among the best well known, and reduce some of the complexities of the directly federally funded loans (such as FHA, VA and USDA). With down payments as low as 5%, multiple mortgage insurance options (when required), and increasing credit standard flexibility, many people find that conventional loans are the premier option for financing their home. PrimeLending’s direct lending relationships with Fannie Mae and Freddie Mac give us unparalleled flexibility and the ability to strip away the additional restrictions that many lenders impose on these loans. Contact one of our Loan Officers to see how we can simplify your mortgage process.

Jumbo Loans

Specializing in Jumbo mortgage options, The McCormick Team is one of the Dallas area’s most sought lenders for those needing Jumbo financing. Our unrivaled understanding of corporate structures, IRS tax codes and the complexities of self employed and investment income allow us to effectively overcome the difficulties often associated with Jumbo lending. We work with a plethora of investors to provide the broadest array of loan options at the most competitive rates. Through our partnership with PlainsCapital Bank, we are even able to provide exclusive options are low rates that are typically not available elsewhere in the market. Contact one of our highly qualified Loan Officers to better understand why The McCormick Team is the lender of choice for many of the Dallas area’s most successful business owners.

VA Loans

We proudly offer VA loans to those eligible through their service. With no down payment requirements, flexible credit standards, low rates and no mortgage insurance, VA loans are often the best option for those who have earned eligibility. Our expertise in VA lending spans over 20 years, and we take great pride in leveraging our knowledge to help the members and veterans of our armed forces realize the dream of home ownership. Call one of our Loan Officers to see how we can help you make the best use of this earned benefit.

Investment Property

With multiple options for those purchasing investment property, we are able to offer options not easily found in today’s mortgage market. Whereas most lenders cannot provide more than 4 loans to a client, our direct relationship with Fannie Mae allows us to approve qualified buyers for up to 10 residential mortgage loans. We offer a variety of options on investment property loans. If you are looking to start or expand your real estate holdings, contact The McCormick Team today to see how we can help improve the return on your investment.

HomePath

As an approved HomePath lender, we are experienced in providing this mortgage solution for purchasers of FNMA foreclosed properties. This option allows for minimal down without mortgage insurance and, in many cases, will not require an appraisal. Additionally, we offer the HomePath Renovation loan, for those looking to make a house their home, or for properties in need of repairs or renovation. Call one of our Loan Officers to see how The McCormick Team can offer a variety of terms and options for this program, while navigating the process on your behalf.

Condos

With a reputation for speed and a unique understanding of the complexities of financing condominiums, The McCormick Team specializes in closing condo purchase and refinance loans with ease and flexibility. We offer a variety of options, from FHA to conventional and Jumbo loans, long term fixed rate and cost saving adjustable rate loans available. Most importantly, our understanding, expertise and strong relationship with Fannie Mae allow us to navigate difficult approvals and even to provide financing where our competitors cannot. Contact the McCormick Team today for the financing of your condominium.

Second Homes

Your second home is your escape from the every day, and it’s financing should not be a stressful event. Able to lend in 48 states, The McCormick Team can help make the dream of buying your second home a reality – whether conventional or Jumbo loan size. Please call us today to see how we can help you with the purchase or refinancing of a second home.

Fixed/Adjustable

We offer a variety of terms and options, including long-term fixed rate mortgage products that are sought after for their stability. We also offer lower-payment adjustable rate mortgages for those seeking greater financial flexibility in their home purchase or refinance. Many of these adjustable rate programs are fixed for more years than the average mortgage lifespan. Contact one of our Loan Officers today to determine which option and term may be best for you.

USDA

For those buying homes in rural areas, the US Department of Agriculture offers special financing options, including a zero down mortgage. These competitively priced options are often the best scenario for those looking to buy a first home or with little money down. Experienced in working with the USDA to provide this mortgage option to those buying in qualified areas, The McCormick Team can help. Contact one of our Loan Officers today to see how this option may open the doors of your new home for you.