Joe

My name is Joe Garrett and I am the best at what I do. I have been involved with more than $1.35 billion in residential mortgage transactions in my 20+ year career. I have access to wholesale rates and programs so I am much less expensive than a retail bank or credit union when you go to the closing table. Whether you are looking for a home purchase loan; refinancing for a lower interest rate; or even a cash out mortgage; my team and I have the expertise to make it a fast, easy, and semi-enjoyable process.

My website offers you the ability to apply online, email me a question, or simply gather information to make an informed decision. My experienced professionals offer support throughout the entire experience. Contact me today and see the difference between wholesale and retail for yourself!

 

Have a question? Just shoot me an email:  joeg@southwestfunding.com

 

Testimonials:

 

 


Listen to What our Customers Say

Our Customers are Important to Us

 

 View Our Loan Programs

 

Texas Mortgage Programs - 

Mortgages for Veterans - Where NO Is A Good Thing:

  • No Downpayment Required on a VA Purchase and it is even possible to have the lender pay for the closing costs!

  • No Money Required at Closing on a VA Streamline Refinance (IRRRL) 100% LTV

  • No Appraisal or Income  Required on Most Refinance (IRRRL) Programs                          

My team and I offer the assistance you need to help in all of your mortgage endeavors, without the hassle. Whether you are consolidating your debt, refinancing your home, or purchasing a new home, we have the expertise to close you on time!

About Us

About Us

We are committed to quality customer service - putting the people we serve first. Take advantage of our expertise in the residential lending industry by applying online today.
Click Here

Loan Programs

Loan Programs

Here at Southwest Funding, we have the right loan program for you. Whether you looking for Purchase, Refinance, or Specialized Loans, we can do it!
Click Here

Contact Us



FHA - High Debt Ratio | Streamline Refinance Without an Appraisal

USDA - 100% Purchase (must qualify by income and location)

Conventional - Very low rates | No Monthly Mortgage Insurance | Refinance Without Appraisal | HARP | Fannie Mae DU+ | TEXAS CASH OUT (50a6 LOANS) | 80-10-10 or 80-15-5 loans | One year of tax returns for self-employed borrowers available! 

Reverse (HECM) - No Income Documentation | You Pick Your Monthly Payment (or none) | Must Be 62 to Qualify | FHA Guaranteed

Home purchase tips:

In today’s real estate marketplace, you need an expert mortgage company. Southwest Funding is that company. We have been serving the needs of our clients since 1993 and we have an A+ rating from the Better Business Bureau. We are a Direct Full Eagle Mortgage Lender and are fully authorized to fund VA, FHA, USDA, HECM (reverse), Fannie Mae, and Freddie Mac loans.

1. Purchase borrowers are the most likely to be taken advantage of in a transaction by some bait-and-switch lenders because the borrower is on a deadline.

     a. Quotes don't matter! The only legal document a lender is required to stand behind is a good faith estimate, nothing else matters. Too many times I have seen borrowers get a "quote" from another lender only to get something completely different once the good faith estimate is issued. It is actually illegal for a lender to issue the good faith estimate without a property address (usually meaning a sales cnotract) so it is very important you trust your loan officer so you don't get switched right before closing.

     b. Make sure your loan has been seen by an underwriter BEFORE you sign a contract. Most lenders give you a preapproval that is worthless, it just means the originator thinks he can get the loan done. Only underwriters can truly determine your eligibility for a purchase. Southwest Funding is one of the few lenders which allow you to have your documents reviewed by an underwriter without a contract.

2. Make sure you FULLY disclose how you receive your income. Bonuses, commissions, and overtime, are all calculated differently and are not part of your base income. Some lenders won’t even allow you to use this income so you won’t find out until the very end that your preapproval is now a denial.

3. Getting the cheapest price for a home is not always the best thing. Usually the best negotiation tactic is to get the seller to pay for ALL of the closing costs. This will allow you to bring less money to closing so you are less stressed at closing. A lower sales price really only helps you later if you decide to sell, getting the closings costs paid helps you on the day of closing.

4. Understand you will have unforeseen costs of owning a home. Lawn maintenance, new furniture, and updates are just a few things to keep in mind when budgeting.

5. Make sure the property taxes on the home you are purchasing are based upon your age and the actual improved value of the home. All too often, we see borrowers who closed their loan somewhere else and come to us to refinance because their payments shot up due to a shortage in their escrow account.

6. Have fun! Purchasing a home should be exciting not dreadful.....and call me:)

When does it make sense to refinance?

To really take advantage of the benefits of a refinance, it’s important to time it correctly. Here are a few ways to know if the timing is right:

How is refinancing different from my original mortgage?

Actually, they're very similar. You go through the same process of applying for the loan and pay many of the same fees. The main difference is you're not buying a home this time around. Sometimes refinancing is cheaper than purchasing because you might be a break on certain fees since you paid them when you purchased. 

  • If you have a fixed rate mortgage and the rates have fallen to levels below the rate that you are paying.
  • If you have an A.R.M. and rates are starting to rise.
  • If your home value has risen and you would like to eliminate PMI (private mortgage insurance), you can refinance and have it removed on the new loan.

Is a refinance worth it?

The easiest way to figure out whether or not it’s worth it to refinance is to use one of the many available online refinance calculators. They will help you to determine how long it will take to recoup the expense of refinancing with the new savings.

People often refer to this as the “break even” point, which basically means that you figure out how much you will be saving each month and compare it to the cost of the refinance to figure out how long it will take to recoup your money.

The rule of thumb is that, if you plan to stay in the house long enough to recoup the entire cost of refinancing, then it is worth it.

Our Market Area:

We are located in Dallas, TX but we handle Austin, San Antonio, Houston, El Paso, and everywhere else in Texas, Alabama, Arkansas, Colorado, Indiana, Michigan, Mississippi, New Mexico, and Oklahoma.

Texas Association of Mortgage Professional NAMB

 

Did You Know?

 

Mortgage News:

Stronger than expected U.S. labor market data was negative for mortgage rates over the past week. Increased expectations for tighter monetary policy from the central banks in the U.S. and Europe also were unfavorable. As a result, mortgage rates ended the week higher. 

 On Wednesday, ADP, a private payroll firm, estimated that there were an enormous 298,000 private sector jobs added in February, far above the consensus of 190,000. This was great news for the economy. However, faster economic growth raises the outlook for future inflation, making it negative for mortgage rates. Fearing that Friday's more highly regarded Employment report from the Bureau of Labor Statistics (BLS) would exhibit similar strength, mortgage rates moved higher on Wednesday and Thursday

The BLS report revealed that the economy added 235,000 jobs in February, a little above the consensus forecast of 190,000. Although the BLS report was a little stronger than expected overall, it was weaker than some investors had feared, and on Friday mortgage rates recovered a portion of their losses.

With the recent string of strong economic data, investors are now nearly certain that the U.S. Fed will raise the federal funds rate at its meeting on March 15. Investors also have significantly raised their outlook for the pace of rate hikes in 2017. In addition, stronger economic growth in Europe may lead to less accommodative monetary policy from the European Central Bank (ECB). At its meeting on Thursday, the ECB made no policy changes, but the tone of ECB President Mario Draghi's press conference was a little more hawkish. In particular, he said that there is no longer "that sense of urgency" to provide new stimulus measures. 

 Wednesday will be the big day next week with reports on Retail Sales and CPI in the morning and the results of the Fed meeting in the afternoon. Consumer spending accounts for about 70% of economic output in the U.S., and the retail sales data is a key indicator. The Consumer Price Index (CPI) is a widely followed monthly inflation report that looks at the price change for goods and services which are purchased by consumers. As mentioned, the Fed is widely expected to hike rates, so investors will be focused on hints about the pace of future tightening. After that, Housing Starts will be released on Thursday, and Industrial Production will come out on Friday. 

Southwest Funding is a BBB Accredited Mortgage Banker in Dallas, TX

 

Southwest Funding

13150 Coit Road #203
Dallas , Texas 75240
Phone: 888-435-7190
Fax: 214-572-7645
NMLS: 32139