Why choose Baymont Financial for your lender?

I remember the first home that I purchased. We had planned on putting $10,000.00 down and thought that would really help our balance to be financed. We were stunned to learn that after all the “Fees” associated with buying a new home, of the $10,000.00 we actually ended up reducing the purchase price by only about $2,000.00. The rest was eaten up with “fees”.

I finally realized that there were costs associated with buying a new home. Our preferred lender (Baymont Financial, Houston Tx.) and the Title Company (Texas American Title, Friendswood Tx) assume responsibilities and potential liabilities and professionally execute their duties to provide the homeowner true and accurate documentation and research for the purchase and closure of the transaction and that results in certain “Fees”.

There are several Fees related to your purchase including but not limited to; Loan Origination Fee, Owners Title Policy, Property Insurance, Taxes ,application fees, closing fees, courier fees, escrow fees, electronic delivery and handling fees, recording fees, survey fees and various other fees to complete the loan documents and closing. One can guestimate these fees to be approximately 3% to 4% (And can sometimes amount to a greater percentage) of the purchase price.

Two of the more costly fees are the Loan Origination fee and the Owners Title Policy fee. The Loan Origination Fees is usually calculated at 1% of the loan amount, so if you’re barrowing $175,000.00, your Loan Origination fee is $1,750.00.

The Owners Title Policy is calculated using a formula regulated by the State of Texas. The formula is as follows; (.00552 x (O.S.P. – $100,000) + $871.00). By taking the “Official Selling Price of $175,000.00 the math is as follows, .00552 X $75,000.00 = $414.00 + $871.00 = $1,285.00.

If we are guestimating 3.5% of the selling price of $175,000.00 or $6,125.00 for closing costs, then you can see that the Loan Origination fee of $1,750.00 and the Owners Title Policy of $1,285.00 totaling $3,035.00 represent the Lion’s share of the costs.

Now, this is the good part. When purchasing a home from Bayway Homes Inc. and you utilize our preferred lender, Baymont Financial, Bayway Homes will pay both the LOF and OTP at the time of closing representing a fantastic savings to you.

That’s just the financial side of the deal. Some of the other important matters concerning your loan are who is helping you with that loan and there is no one better than the group of very experienced, talented, professional, thorough and genuinely concerned representatives that you will come in contact with at Baymont Financial making your home buying experience one to remember with complete satisfaction.

Baymont Financial, www.baymontfinancial.com is located in Houston Texas and is part of the TXL Mortgage Group.www.txlmortgage.com One of the nicest things about working with Baymont Financial is the personal one-on-one attention that is afforded every customer during the home buying process. Over the years I have worked with several lenders (Many of which are no longer in business) most have been relatively easy to work with, some very difficult to deal with but none as efficient as Baymont Financial. Consistently they have provided a level of expertise and service to our customers unsurpassed by any other lender.

From time to time some folks run into credit issues and have no idea how to repair information that is having a negative impact on their credit score which prevents them from securing a mortgage. Baymont Financial has been very proactive and maintains an on-staff office dedicated to resolving most issues for people that find themselves in this position. Several of our customers have taken advantage of this service and within weeks have been able to qualify for a home mortgage loan.

Come out to one of our many locations and visit with us. We would like to show you our superior products and perhaps you will have the opportunity to work with our lender, Baymont Financial.