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
Second Mortgages Just Hit an 18 Year High and Here Is Why Paying Off Credit Card Debt With Equity Makes Sense
The Data Behind the 18-Year High in Second Mortgage Borrowing
A recent study confirmed what many homeowners are quietly figuring out on their own. Second mortgage borrowing just hit an 18-year high. HELOCs and home equity loans are being used at a rate not seen in nearly two decades and the reason is straightforward when you look at what the average American household is carrying.
Credit card debt. Often thousands of dollars of it at interest rates that can run well above twenty percent annually.
The Math That Makes This Conversation Worth Having
As Caleb Patton at Broker Brothers Mortgage explains he would never encourage anyone to add unnecessary debt to their home. That is an important distinction. This is not about borrowing for discretionary spending. It is about restructuring existing high-interest debt into a significantly lower-rate product that uses equity you have already built.
If you are carrying thousands of dollars in credit card debt at twenty-plus percent interest and you have tens of thousands of dollars in home equity the comparison is striking. A home equity line of credit or home equity loan comes at a dramatically lower interest rate than any credit card product in the market. Moving that credit card balance into a second lien position on your home means paying substantially less in interest every single month.
The monthly savings that produces can then be redirected toward paying down the principal as fast as possible rather than losing the majority of every payment to interest that barely touches the balance. The path out of debt becomes significantly shorter and less expensive.
What This Looks Like Practically
Hundreds of dollars in monthly savings is a realistic outcome for homeowners with meaningful credit card balances who have sufficient equity to support a second lien. The exact numbers depend on the balances involved, the current interest rates on the credit cards, and the available equity and qualifying factors on the home. But the directional math is consistent. Lower rate product on a second lien beats high-rate unsecured credit card debt almost every time when the equity is available.
The key is doing this intentionally as a debt restructuring strategy with a clear plan to use the monthly savings to accelerate payoff rather than treating the freed-up credit card capacity as an invitation to spend.
Find Out If This Makes Sense for Your Situation
Contact the team at Broker Brothers Mortgage to run the numbers on your specific situation. Caleb Patton and the team will show you exactly what a home equity line of credit or home equity loan could save you monthly and what your path out of debt looks like with the right strategy in place.
Sources
FederalReserve.gov
ConsumerFinancialProtectionBureau.gov
MortgageNewsDaily.com
Investopedia.com
BankRate.com
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