Fedrate Mortgage is licensed in Texas and Florida, and can work with borrowers anywhere in either state. The main focus is the Dallas and Fort Worth metroplex, with Florida served alongside it.
Dallas and Fort Worth metroplex
Texas has no state income tax and raises much of its revenue through local property tax instead, so the tax line is a larger part of the monthly figure than buyers arriving from other states expect. A homestead exemption can reduce it on a primary residence.
Served alongside Texas
In Florida it is insurance that does more of the work. Homeowners cover, and windstorm cover where it applies, is a substantial part of the monthly cost, and a lender wants the policy in place before closing. A condominium adds a step, because the lender assesses the building too.
Mortgage originators are licensed state by state. Fedrate Mortgage holds licences in Texas and Florida, which means we can work with you on a property in either state, wherever in it you are.
It also means we cannot help with a property outside those two states. If you ask us about one, we will tell you so rather than take up your time. More about the brokerage.
Principal and interest are only part of what leaves your account each month. Property tax and insurance sit alongside them, and both are set locally.
So an estimate built for a house in Texas does not carry over to one in Florida, even at the same price and the same rate. When we compare options we use the figures for the actual property. See the loan programs.
Tell us what you want to do and where, and we come back with options compared across multiple wholesale lenders. A pre-qualification request starts it, and nothing is a commitment until a lender has reviewed your file.
