We are pleased to offer the following resources for our customers to utilize to gain further understanding of the mortgage process. We invite you to take advantage of these links and if you have any questions, just let us know.

Here is some helpful information

Do you provide a home loan toolkit?

What is a Mortgage?

What information do mortgage lenders need from me to qualify for a mortgage loan?

What is the TRID Educational Series

Why choose Guild Mortgage?

What does a Realtor do?

What is a title? And why do I need title insurance? 

Why do I need Hazard insurance?

Do you provide a home loan toolkit?

Absolutely. You can download 'Your Home Loan Toolkit' via the link below. The PDF provides a step by step guide provided by the Consumer Financial Protection Bureau. The document is designed to walk you through the mortgage process.

Download Your Home Loan Toolkit (PDF) 

What is a Mortgage?

Simply put, a mortgage is a loan taken to finance the purchase of a home.

Don’t worry, you’re not the only one asking this question. Mortgages are a major part of most Americans’ home buying experience, and they can be very confusing to most people.

What most people worry about is the rate. The internet is full of ads promising shockingly low rates, which is tempting to many buyers. However, it’s never quite that simple. At the end of the day, the terms and conditions actually trump the rate in importance. While a rate may be low for the first year, it might balloon up after that initial year. This is spelled out in the terms and conditions. Paying attention to the fine print here will ultimately save you a lot of headaches down the road.

What information do mortgage lenders need from me to qualify for a mortgage loan? 

To help you get a mortgage loan, mortgage lenders require information related to your employment, finances and information about the home you wish to purchase. They will ask you specific, detailed information about these topics so that they can arrive at a monthly payment that you can afford and will be able to sustain.

What is the TRID Educational Series

At Guild Mortgage we are dedicated to delivering value to our real estate partners. Truth-in-Lending Act/RESPA Integrated Disclosures (TRID) takes effect on October 3, 2015 (Previously August 1, 2015), and we want you to be prepared.

As a result of Dodd-Frank, the CFPB was directed to simplify & consolidate the Good Faith Estimate (GFE), Initial Truth-In-Lending (TIL), and HUD-1 & Final TIL from four forms into two new forms:

Loan Estimate (LE) replaces GFE and initial TIL at initial disclosure
Closing Disclosure (CD) replaces final TIL and HUD-1 at final disclosure

Why choose Guild Mortgage?

You have a lot of options out there when it comes to choosing a lender. Once you look around, you’ll see that Guild Mortgage is a different kind of Mortgage Company. We’re about simplicity, caring for our clients, and keeping our promises. You’ll have an advocate on your side when you work with us, and you’ll always know who to ask when you have questions. It comes down to our commitment to exceptional customer experience, empowering the individual and maintaining an environment of care. At the end of the day, our number one priority is happy people, and we want you to be one of them.

What does a Realtor do?

A real estate agent helps you sell or buy a property. But there’s more to it than that. A good realtor has at least 90 different functions within the home-buying process that they complete for a seamless transaction.

If you’re in the market to buy, a realtor will do the digging to find homes that fit your needs. A good realtor will not only take you to see properties that interest you, but provide insight into neighborhood, surrounding home values and nearby schools. Your realtor should keep you informed of every step of the process and act as a negotiator and advocate for you.

Agents typically work on commission and earn a percentage of each sale that he or she helps complete.

What is a title? And why do I need title insurance?

A title is the formal document that shows ownership of a property. When you buy a home without getting title insurance, you run the risk that the seller is not the actual owner. And that can mean big trouble for you if someone shows up with a claim to ownership later. A title company will search public records to look for any issues with the home's title. If a problem is found, the title company will fix it before you close.

Title insurance protects you from any problems that were unable to be located in a public record search from the time of closing and as long as you own the home, for a one-time fee. For example, if 10 years into owning your home an undisclosed heir shows up, the title company will back you monetarily and legally if necessary to protect your title. With title insurance, you can rest easy knowing that your title company has your back.

Why do I need Hazard insurance?

If you want a mortgage, you have to have hazard insurance which covers your home and property against losses from theft, bad weather and fire. This is required because your home is the collateral for your mortgage loan and the lender needs your shared investment to be protected.

You are required to take this step independently, and while it is a requirement for getting a mortgage, it is not a built in step in the process. If you find that you need assistance with the insurance process, please contact us and we'll be happy to help.

Remember that typical hazard insurance does NOT cover everything. Typically, it covers damage or loss from fire, wind, hail and theft. Flood and earthquake damage are covered in separate policies, so if you live in an area where these are a concern, your lender will likely require you to seek out these additional policies.

Home insurance also covers liability, so if something happens to a neighbor's property and you are found at fault, you will be covered.

Even if you aren't required by a lender to have it, hazard insurance should be considered an essential for as long as you plan on owning your home. At the end of the day, a relatively small certain cost in the short run is worth being protected from a major uncertain cost in the future.

Here are some helpful links

U.S. Department of Housing and Urban Development / Federal Housing Administration (FHA)

https://portal.hud.gov/hudportal/HUD?src=/federal_housing_administration

Look Up Tax Records Online

https://publicrecords.netronline.com/

Fannie Mae (FNMA)

https://www.fanniemae.com/kb/index?page=home

USDA Rural Development

https://www.rurdev.usda.gov/tx/hp.htm

Nationwide Mortgage Licensing System (NMLS)

https://www.nmlsconsumeraccess.org/

Department of Veterans Affairs

https://www.benefits.va.gov/homeloans/

Cara Hawkins | NMLS #316561

Branch Manager

chawkins@guildmortgage.net

Direct: 972.629.7621

Contact Cara

Cara Hawkins

5601 Democracy Drive Suite,

Suite 120,

Plano, TX 75024

Phone. 972-629-7621

Email. chawkins@guildmortgage.net

Cara Hawkins NMLS ID 316561 | Guild Mortgage Company NMLS 3274 | Guild Mortgage © 2016 | I am licensed to conduct business in the state of Texas © 2016

Attn: Texas Applicants:

Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 North Lamar, suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550.

The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.