Your Local Mortgage Lender
Located in Indiana
Personalized Mortgage Experience
Caleb Patton 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 Indiana.
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
Should You Buy Now or Wait for Lower Rates and Here Is Why the Answer Depends on Your Situation
The Question Caleb Patton Is Hearing From Buyers Right Now
Should I buy today or wait until mortgage rates come down? It is one of the most consistent questions in the current market and it deserves a more complete answer than most buyers are getting when they ask it.
Why Waiting for Rates Does Not Automatically Make Buying Easier
The logic behind the waiting strategy is straightforward. A lower rate produces a lower payment and a lower payment makes the purchase more affordable. It holds up well in isolation and breaks down when you consider what else happens when rates improve.
When rates drop meaningfully the buyers who have been sitting on the sidelines do not stay there. They all receive the same signal at the same time and they move together. The buyer pool that was thin during the higher-rate period suddenly expands and that expansion runs directly into the same inventory those buyers were waiting to afford.
More buyers competing for available homes creates upward pressure on prices. The savings from the lower rate can get partially or fully absorbed by the higher purchase price required to win in a market where sellers have options again. The leverage and concession opportunities that exist today shrink or disappear entirely when competition returns.
Waiting for the rate and then paying more for the home is a different outcome than most buyers are running through their heads when they decide to hold off.
What the Right Question Actually Is
Rather than trying to predict the perfect moment in a rate cycle that nobody can reliably forecast the more productive framework is entirely personal.
Does the payment fit comfortably within your budget today? Is this the right home for your family right now? Do the numbers make sense given your income, your savings, and what you expect your life to look like over the next several years?
The best time to buy is not always when rates are at their lowest. It is when the numbers and your goals align. Both of those things can be evaluated clearly right now without requiring any prediction about where rates will be six months or a year from now.
Reach out to Caleb Patton at Broker Brothers Mortgage to run the numbers on your specific situation and find out whether buying now makes sense for your goals right now.
Sources
NAR.realtor
MortgageNewsDaily.com
FederalReserve.gov
ConsumerFinancialProtectionBureau.gov
Investopedia.com
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