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
Most Economists Are Not Expecting a 2008 Housing Crash and Here Is What Waiting Has Already Cost You
The Plan That Has Not Worked for Almost Two Decades
I am going to wait for the housing market to crash and then I will buy a home. Have you heard that recently? Have you thought it yourself?
Here is the reality check that nobody waiting for a crash wants to hear. If you have been waiting for the market to crash since 2008 you have been waiting for almost two decades. And during those two decades the homes you were waiting to buy cheaper have grown in value by tens of thousands of dollars while you have continued paying rent toward someone else's mortgage rather than your own.
The crash that was supposed to create the buying opportunity has not come. And the equity that homeowners have been building this entire time has not gone to the people who were waiting.
Why 2008 Is Not Coming Back
Economists are not expecting a repeat of the 2008 housing market crash and understanding why matters more than simply taking that statement on faith.
The 2008 crisis had specific causes. Lending standards that were dangerously loose. Mortgages given to borrowers who could not realistically sustain them. Home prices inflated by speculative demand and easy credit rather than genuine housing need. When those foundations collapsed there was nothing underneath to hold the market up.
Today's market looks fundamentally different on every one of those dimensions. Homeowners have strong equity built through years of appreciation and consistent principal paydown. Foreclosure rates are low. Lending standards have been significantly tighter since the qualified mortgage rules went into effect after 2008. And the housing shortage driving prices in most markets reflects genuine demand rather than speculative excess.
Could prices level off in some markets? Absolutely. A modest correction in overheated local markets is different from the broad catastrophic decline of 2008. Waiting for the latter while the former plays out is not a strategy. It is an indefinite delay with a compounding cost.
What Waiting Has Actually Produced
The buyers who have been waiting since the last crash for the next one have watched the market deliver the opposite of what they were waiting for. Values have increased. Equity has accumulated for owners. Rents have risen consuming the savings that were supposed to fund the eventual down payment on the eventual crash purchase.
The crash has not come. The equity has not waited. And every month of continued renting has been another month of paying someone else's mortgage instead of building your own financial position.
What to Do Instead
Stop waiting for a market event that economists are not projecting and that history suggests is not imminent. Call Caleb Patton at Broker Brothers Mortgage to find out what you actually qualify for today. Get pre-approved and find out how close you actually are to buying instead of continuing to guess that you are not close enough.
Follow along for more information and reach out anytime to start the conversation.
Sources
NAR.realtor
MortgageNewsDaily.com
FederalReserve.gov
ConsumerFinancialProtectionBureau.gov
Investopedia.com
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