Brush Mortgage

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Message From Meredith
I am a native Southeast Texan, grew up in Beaumont,graduated West Brook Sr. High and then from
LamarInstitute of Technology with an Associatesdegree inReal Estate.I started my career in real
estatein 1998incommercial land development in Dallas forseveral years before moving back toMY HOME of
SETX. You'll find when you work with me that I am open,honest and straightforwardto all clients.
Ihave the experience inclosing mortgage loansthat is crucialin today's market. I would not be able to offer my clients such personal and excellentservice without total daily support from my team.

Stefanie Ouzts Helms is from Port Acres, TX. She graduated from Stephen F. Austin High School and holds a Bachelors in Business Administrationfrom Lamar University.Stefanie has worked with me as my loan processorsince 2003. We have both gained invaluable experience through many years of mortgage industry changes and hundreds of successful loan closings. We have gaineda keen eye for how to prepare our loan filesto get approved and to closing expeditiously.

Beth Boren is from Nederland, TX and has been a licensed loan officer since 2007. She graduatedfrom Nederland High School and received her loan officer certification from Kaplan University, Houston, TX. Beth is also a graduate of Dearborn Financial where she received her license in Property & Casualty Adjusting. Beth works diligently with her clients to make sure they are completely satisfied with the loan process from application to close.409.893.4799 cell 409.727.0095 office

The Brush Mortgage Team is partnered with HOUSTON HOME LOAN, INC.
Westrive to offer the best fixed rates and terms on an array of FHA, Conventional, USDA and VAloans.
Callus today and we'll discuss which mortgage loan is right for YOU!

VA loans to 100%, MIP but no PMI
Conventional Loans to 95%, 680+ req. PMI >80%
Texas Home Equity to 80%, no PMI

40, 30, 20, 15 or 10 Year Fixed Terms All Available!
NO PRE-PAY PENALTIES!

Escrows of taxes and insurance required formost loans >80% LTV

The ENTIRE wholesale lending market REQUIRES a credit score of at least 620 to obtain a mortgage loan as of 3.20.09
To get your credit in order & a FREE credit analysis, call me today!

1. Driver's License and Social Security Card
2. Last 2 years Tax Returns, all pages and ALL W2/1099
3. Last 2 months bank statements, all pages, all accounts
3. Last 30 days paystubs

Loandecision takes anywhere from 2 hours to 72 hours, closings as quick as you needit closed.If you have any questions, call/email.
I work Mon-Fri, 9am til I'm done and weekends too if needed.

Meredith(409) 860-3100 or emailmbrush@brushmortgage.com
Beth (409) 893-4799 or email bboren@brushmortgage.com

I always tell my clients...
"this may be your 1st time buying a home...but I've closed hundreds!"
I'm a PRO whoknows the market well andwill guide you through the entireprocess
from application to close.

Buying a home can be stressful and intimidating
That's why you are consideringus to help you get closed!
You have obviously heard that an experienced and reputablebroker can help you every step of the way and have been referred to the Brush Mortgage Team to take care of your financing from application to close.Wecan help you on a By Owner sale orgladly refer you to one of the many of the local experienced
realtors we work closely with each day.

DID YOU KNOW?
The biggest misconception offirst time home buyers is thatTHEY pay for a buyers agent to show them homes BUT it's the seller footing the bill to get their home sold. So call your favorite agent or ask me for a realtor referral during your pre-qualification and start looking today!
Trust your instincts and let's get started!!

We start with a simple, over the phone, no commitment pre-qualification. You will be able to speakto me directly so we canbetter determine how much you qualify for. It's a step by step process and before you know it,
we'll be calling you ready to set your closing!

Principal office:14107Smith Rd175 Humble, TX 77396
Phone (713) 463-5181 NMLS 206277

This page was last modified on Saturday, September 25, 2010 11:04:43 AM

National Mortgage Licensing System - Consumer Info

Full Doc- Wage earners that can prove their income by providing paystubs, taxes and W-2's and bank statements. Almost 100% of the market TODAY require full docmeaning W2 AND self-employedare required to present full tax returns, ALL W2s and 1099s and paystubs, if applicable. No exceptions! TIP: Watch your deductions. Lendersdeduct it off your Adjusted Gross Income BUT you can add back in depreciation. Simple rule, if you deduct, they deduct!!

80/20 Combo loan - 80% 1st lien and 20% 2nd lien loans, closed with same lender at the same time, helps to lower overall 100% payment, waives escrow and PMI requirements. Not many lenders are working with 80/20 loans anymore. If they do work with 1st and 2nd liens it would be max 80/15/5, meaning 80% 1st lien, 15% 2nd lien and 5% down payment required. TIP: Mortgage Insurance companies are no longer issuing MI on refinance loans with 1st and 2nd lien rolling together into new loan, so if >80% LTV, you will have to go FHA on your refi, no choice!
Stated Income- State your household income andverify employment or self-employment, no other documentation required. However there are 2 types of STATED loans, what we call SIVA (Stated Income Verified Assets) and SISA (Stated Income Stated Assets). These type loans areno longer offered on the market as of 10/2008.

Escrows - Taxes and Insurance you pay to the lender each month who holds the funds in a non-interest bearing account so when your taxes and insurance become due each year, the lender takes the money you have accumulated and pays those out each year. Don't simply RELY on the lender to handle your business, always double check and verify those items have been taken care of on time each year to protect yourself and your home.
Escrows are required on all conventional loans >80% LTV and ALWAYS on FHA loan no matter what LTV.
There is also another term for ESCROW - "the closing itself is considered "GOING TO ESCROW" which is where the title company will handle your closing transaction and fund the loan"
PMI - Private Mortgage Insurance, charged per month onConventional loans over 80% and ALWAYS on FHA no matter what LTV.
MIP - Mortgage Insurance Protection Policy charged by the entity guranteeing the loan. If MIP is charged, it usually rolls into your loan amount. FHA charges 2.25%, USDA 3.35%, VA 2.15%. Conventional does not charge any MIP fee.
PITI - Principal, Interest, Taxes and Insurance
DTI - Debt to Income Ratio (percentage of your debt, compared to your monthly income)
LTV - Loan to Value (percentage of the homes value to what you owe, or with purchases the amount you finance compared to the sales price (ie: 100%, 95%)