Your Local Mortgage Lender
Located in Tampa, Florida
Personalized Mortgage Experience
Moses Alford offers personalized service and loan options you'll love. We shop multiple lenders to find the best rate and product for you, getting you into your dream home faster.
With wholesale interest rates and cutting-edge technology, we make the mortgage process seamless. Trust the experts who focus solely on mortgages. Support your local community and experience elite client service.
Let us help you achieve your homeownership dreams!
The Home Loan Process
Mortgage Pre-Approval
Get pre-approved from one of our Loan Officers to see how much you can afford.
House Shopping
Work with a trusted Real Estate Agent to find a home you would like to move into.
Loan Application
Complete your home loan application to get the lending process started.
Don't take my word for it
Mortgage Programs
Experience the best mortgage experience located in Tampa, Florida.
Home Loan Options
Our experienced mortgage advisors will walk you through the best mortgage loan program that will fit your specific scenario.
Conventional Home Loans.
FHA Home Loans.
USDA Home Loans.
VA Home Loans.
Frequently Asked Questions
How often can I refinance my mortgage?
There is no limit to the number of times you can refinance. However, you must qualify every time you apply and there will be costs associated with closing the loan each time.
Can I buy a home if I do not have money for a down payment?
Yes! There are a number of bond programs that offer low or no down payment financing options.
How do I know which mortgage is right for me?
The key to choosing the right mortgage is to understand the range of options and features available to you, as well as your budget, circumstances, and goals. Our licensed mortgage professionals are here to help you navigate that process. The more you know, the more comfortable and confident you will be choosing the best option for you and your family.
How long will the loan process take?
The Truth in Lending Act (TILA) does not permit a lender to close a loan until at least seven (7) business days have passed from the date your application was received. A typical home loan takes 30 days, as a number of third-party services such as appraisals, title work, and credit are required in conjunction with the mortgage process. Once you familiarize your Loan Officer with the details of your specific loan scenario, they will be able to provide you with a more specific timeline.
Will I qualify for a home loan?
The only way to find out is to speak with a qualified mortgage professional. Our Loan Officers have helped numerous clients who didn’t know if they could qualify to become home owners. We take the time to understand your financial situation and long-term financial goals, and then match you with the loan program that best fits your needs. Your approval for a loan may also largely depend on the price of the home you are financing. Getting pre-qualified prior to beginning your home search can give you an idea of what you may be able to afford.
Why do people refinance their mortgages?
Homeowners typically refinance to save money, either by obtaining a lower interest rate or by reducing the term of their loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
How much money will I have to pay upfront to buy a home?
This question does not have a simple, one-size-fits-all answer. The exact amount will depend on the price of the home you buy as well the type of mortgage financing you choose. Depending on your loan program, your down payment could be as much as 20% of the home’s price or as little as 3%, while some loans require no down payment at all.
Can I get a mortgage after bankruptcy?
You may still qualify for a home loan even if you have experienced a bankruptcy. The best way to find out if you qualify is to talk with a Loan Officer to discuss your options. Be sure to bring all paperwork regarding your bankruptcy so your Loan Officer can find the program that best fits your situation.
Should I lock my interest rate now, or wait until we are closer to our closing?
Interest rates fluctuate all day, every day. If an interest rate is good, it may be in your best interest to lock now. If you wait, you run the risk of an increase in rates later. If you are concerned that rates may go down after you lock, contact your Loan Officer to discuss your options. Some programs allow you to lock for an extended period and choose to lower your rate should a better one become available.
Most Recent Blog Updates
Escrow Sounds Complicated But Here Is What It Actually Is and Why It Makes Your Life Easier
The Word That Confuses Almost Every First-Time Homeowner
Escrow. It comes up in almost every mortgage conversation and almost every first-time homeowner walks away from the closing table without a clear picture of what it actually is or how it works. Moses Alford wants to clear that up because once you understand it the concept is genuinely simple.
What an Escrow Account Actually Is
When you make your monthly mortgage payment that payment is typically doing more than one thing. Part of it goes toward your loan balance and interest. Another part goes into an escrow account that your mortgage company manages on your behalf.
Think of the escrow account as a savings account your lender runs for you. Money flows in a little bit every month and when your property tax bill or your homeowners insurance premium comes due the mortgage company pays those bills directly out of that account. You do not have to remember when they are due. You do not have to write a separate check. The bills get paid automatically from funds that have been accumulating throughout the year.
The alternative to escrow would be receiving a large property tax bill once or twice a year and managing that payment entirely on your own. For most homeowners the escrow structure is significantly easier to budget around because the obligation is spread across twelve smaller monthly contributions rather than arriving as one large unexpected payment.
Why Your Escrow Payment Can Change
Your escrow account gets reviewed periodically by your mortgage servicer. If your property taxes increase or your homeowners insurance premium goes up the amount being collected each month needs to adjust to make sure the account can cover the bills when they come due. When taxes or insurance come down the monthly escrow contribution can decrease as well.
Those adjustments are why your total monthly mortgage payment can change from year to year even if your principal and interest portion stays fixed. It is not the loan changing. It is the escrow portion responding to real changes in the underlying costs.
The Tip That Can Actually Lower Your Monthly Payment
As Moses Alford explains here is something worth acting on every year or two. Shop your homeowners insurance.
Your insurance premium is one of the components that flows through the escrow account. If you can find equivalent coverage at a lower premium the monthly escrow contribution required to cover that premium decreases. That decrease flows through to a lower total monthly housing payment.
Insurance is not fixed and loyalty to your current carrier does not always produce the best rate. Getting competing quotes periodically is one of the few levers a homeowner can pull after closing to actually reduce the monthly payment without refinancing.
The Takeaway Worth Remembering
Escrow sounds like a complicated banking term. It is really just a way to make two large bills significantly easier to manage by breaking them into small monthly contributions. Your mortgage company handles the logistics. You build the obligation into your regular monthly payment without having to track due dates or save separately for big annual bills.
Reach out to Moses Alford with any questions about how escrow works for your specific loan or situation.
Sources
ConsumerFinancialProtectionBureau.gov
FannieMae.com
MortgageNewsDaily.com
Investopedia.com
HUD.gov
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