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
What Actually Happens After You Submit Your Mortgage Application and What to Expect at Every Step
The Process Is a Lot Less Intimidating When You Know What Is Happening
You submitted your mortgage application. Now what? Most buyers spend the weeks between application and closing wondering what is happening with their file and whether everything is on track. Moses Alford wants to pull back the curtain because the process is significantly less intimidating when you understand what is happening at each stage rather than waiting in the dark for updates that may or may not come.
Step One: File Review and Organization
The first thing that happens after your application is submitted is a complete review of your income, assets, credit, and all the documentation you have provided. Everything gets organized and verified to make sure the file is complete and ready to move into underwriting. This is the stage where any gaps in documentation get identified early rather than surfacing later in the process when the timeline pressure is higher.
Step Two: Underwriting
Your file then moves to underwriting. The underwriter reviews everything in the file against the guidelines for your specific loan program and typically comes back with conditions. Conditions are not a red flag. They are the underwriter's way of saying the file looks good and they just need a few additional items to finalize the approval. A letter of explanation for a large deposit. Updated bank statements. Verification of employment. These are normal and expected parts of the process rather than signals that something has gone wrong.
Step Three: Appraisal
Simultaneously the appraisal is ordered and completed to confirm that the home's value supports the purchase price and the loan amount. The appraisal is an independent assessment by a licensed appraiser and its outcome affects the final loan approval. In most cases appraisals come back at or above the purchase price and the process moves forward without disruption.
Step Four: Clear to Close
Once the conditions from underwriting are satisfied and the appraisal is confirmed the words everyone is waiting for arrive. Clear to close. That is the signal that the loan is fully approved and the closing can be scheduled. Documents are prepared and sent to the closing table for signing.
Step Five: Signing and Funding
You sign. The loan gets funded. Someone hands you the keys to your new home.
The Part That Should Never Be Missing
As Moses Alford explains you should never have to wonder what is happening with your loan. That wondering is the anxiety that makes the mortgage process feel more stressful than it needs to be and it is entirely preventable with consistent communication.
Moses Alford and his team keep clients updated throughout every stage of the process so buyers always know where their file is, what is happening next, and what if anything is needed from them to keep things moving.
Mortgages do not have to be complicated. You just need someone who knows how to guide you through one. Reach out to Moses Alford to start the conversation.
Sources
ConsumerFinancialProtectionBureau.gov
FannieMae.com
MortgageNewsDaily.com
Investopedia.com
HUD.gov
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