The Right Choice for Home Financing

Get the most out of your financing experience with our preferred lenders.

Service First Mortgage, Pacesetter Homes preferred lender, is passionate about empowering our team and our customers with responsible financial management knowledge to promote smart financial habits.

Service First Mortgage is committed to providing the best products, offering the most comprehensive services and affordable mortgage rates. As a full-service mortgage lender approved with Fannie Mae, Ginnie Mae, HUD, and VA, they are fully equipped to take care of a customer from loan origination to payoff. Their vast array of products will help you get the right loan to meet your specific needs.

The first step to home ownership is getting pre-qualified for a new home. There is no fee to apply or obligation. Contact Jason for more information or click below to start the process.

Jason Moreland

Senior Loan Officer
#281751

6500 River Place Blvd | Bld 7 Suite 250 Austin, TX 78730

Email: 

Office: 512-646-1992 x134
Cell: 512-291-7283
Fax: 512-524-3763

Do you desire the American dream of home ownership but do not have enough money in savings to qualify? Just pay your rent. Participate in our Live and Earn program to make it happen.

Closing your home in 4 simple steps.

Closing on a house is the most rewarding part of the home buying process. Here’s a guide to help you prepare you for the day of closing.

How Long Does It Take To Close?

Closing day, the day you sign your final paperwork, lasts about 1 to 1.5 hours

01

Step 1 : Understanding Your Documents

The closing documents lay out, in detail, all the important information of your loan. That includes:

  • Loan term, loan amount and interest rate
  • Estimated monthly mortgage payment
  • Closing costs, which include origination, underwriting and government fees
  • Amount of money you’ll need to bring to closing, also known as cash to close
  • Loan disclosures

Title Documents

During the closing process, a title company, working in the interest of you and your lender, will perform a title search to ensure the seller owns the right to the property and confirm there are no existing liens on the home.

02

Step 2 : Selecting A Homeowners Insurance Plan

Mortgage lenders require buyers to get a homeowners insurance plan for the new home and show proof of this insurance just before or during closing.

Home insurance helps protect you from major, unexpected costs. If your house is damaged by something like a fire, the policy can contribute toward repairs or rebuilding. If your belongings are stolen—such as phones, TVs, jewelry, or other valuables—coverage may help reimburse you so you can replace them.

It can also protect you if someone is hurt on your property. For instance, if a guest falls on your walkway or steps, the policy may help cover medical bills or legal claims.

The goal is to have enough coverage to restore your home and replace your items after a loss. If you’re financing your purchase with a mortgage, your lender will typically require active home insurance before final approval.

03

Step 3 : Preparing Your Finances For Closing Day

Mortgage lenders require buyers to get a homeowners insurance plan for the new home and show proof of this insurance just before or during closing.

Closing costs are the fees paid to your lender and other third parties to close on your loan. They’re typically around 2% – 6% of the purchase price of the home and include several fees, like the appraisal, origination, title insurance and application fees. You may also have to pay mortgage insurance depending on the type of loan you get and how much you put down. Keep in mind that closing costs are not the same as prepaid costs.

Earnest money is the money you put down to show the seller you’re serious about buying their home and protects the seller if you were to back out of the deal. The money is held on an escrow account until the deal is completed, then applied to your down payment or closing costs.

Lender credits are provided by the lender to absorb your closing costs in exchange for paying a higher interest rate. This could be a good option for cash-strapped buyers who may not have a ton of money to pay closing costs. However, a higher interest rate means you’ll pay more in interest over the life of the loan.

Cash to close is the total amount of money – closing costs included – that you need to bring on closing day. Your down payment makes up much of your cash to close. Depending on your loan, your down payment could be as little as 3% or as high as you wish. If you have a government-backed loan, like a USDA or VA loan, you may not have a required down payment.

04

Step 4 : Planning What To Bring To The Table

Most of the closing documents you’ll review and sign on closing day will be provided to you at closing. There are some items you’ll need to bring on closing day. To make sure you don’t forget anything on such and exciting day, create a list and check off your items as you pack them. Start your list with these required items:

  • A form of identification, like a driver’s license, passport or government-issued photo ID
  • A certified or cashier’s check in the amount of closing costs due or proof of a wire transfer (cash and personal checks are not usually accepted)
  • Your Closing Disclosure to compare to final paperwork
  • Proof of your homeowners insurance

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