BUYING A HOME IN TODAY'S MARKET?
As a Dave Ramsey fan, you understand the importance of financial stability and staying out of debt. At Churchill Mortgage, we’re here to help guide you toward the real American Dream, debt-free homeownership, so you can own your home free and clear!
Your financial goals are personal, so your home loan experience should be too. By building out a smarter mortgage plan that works with your budget and unique goals in mind, you'll be able to focus on what matters most – your family, friends, and living your greatest life.
"Churchill's team made my house buying process easy and painless. They kept me informed and walked me through all my questions. Would highly recommend and I will be working with them again!"
"We originally heard about Churchill Mortgage through Dave Ramsey's Financial Peace University and started the pre-approval process with Amy Phillips. Amy was very knowledgeable and interactive throughout the whole process. My wife and I found a house we loved, and put an offer on it. Amy went the extra mile by confirming all of the paperwork that was needed and checking the interest rate for us every day for almost a month. She was kind and professional. The details of the loan application through to closing were all taken care of by a capable team with an easy-to-use portal. Thanks a lot!"
"We first heard about Churchill from The Ramsey Show and they truly delivered. From start to finish, the team was there for us every step of the way. We had their support any time needed, and they were there to answer any questions, even late evenings. We couldn't have asked for a better first-time home buying experience. Thank you."
Because the interest rate on your home loan is directly tied to how much you pay on your overall mortgage, lower rates usually mean lower monthly payments.
Check out this example of monthly payments (principal and interest) on a 15-year fixed-rate loan of $250,000 at 5.5% and 4.0%.
With a 1.5% difference in interest rate, there is a $34,827 difference in interest paid! Imagine what you could do with that in your pocket!
* The scenarios listed above have an APR of 5.5% and 4% respectivly. Additional fees are not included in the examples above.
With so much of your hard-earned money on the line, it’s best to seek advice from a trusted home loan expert and have the confidence that you are in qualified hands.
Explore interest rates, learn how much you can save, and find out the true cost of your home loan.
Connect with a Mortgage ExpertGet the competitive edge over other home buyers with one of Churchill’s pre-approval options.
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Frequently Asked Questions
A lot of weight is put on a FICO® Score because it’s an easy way to do a quick risk assessment. If you don’t have a FICO® Score it can make qualifying for a mortgage a little more difficult, but not impossible. Many lenders do not offer no credit score loans.
Yes, Churchill Mortgage accommodates this type of loan on a regular basis with expertise. We work hard to make sure you are not penalized for non-traditional credit. Our Home Loan Specialists are professionally trained to help you get a smarter mortgage that can be paid-off quickly, so you can return to a debt-free lifestyle as soon as possible.
Typically, you must have four alternative credit tradelines with the most recent consecutive 12-month payment history from the creditor stating each were paid on time. Examples of alternative credit can be: cell phone bills, utility bills, insurance that’s paid monthly or quarterly (but not payroll deducted), school tuition, child care, or rent payments. If you are living rent free, a conventional loan without a 12-month rental payment history will require 12 months of assets to cover your principal and interest (P&I), taxes, property, flood, and mortgage insurance premiums. Click here to download our How to Buy a Home with Zero
We’ve found that a 15-year fixed rate loan with a 20 percent down payment gives you the best chance for approval. This type of loan eliminates the need for private mortgage insurance (PMI) and presents a lower risk to the loan servicer.
With no credit score available, an underwriter will go through your documentation to establish a history of payments for alternative credit. Don’t look for quick answers during this process. It can take about three times longer than a normal borrower file and sometimes additional documentation will be requested. Give your underwriter at least 60 days to look into the loan risks before issuing approval. Your Home Loan Specialist is always available to give a more detailed timeline for the underwriting process and to assist writing a contract closing date.
Don’t sign any sales contracts for a home purchase without protective contingencies to cover you in the contract. You’ll also want to make the sale contingent upon being fully approved, otherwise all earnest money can be returned to the buyer. Stay away from any 100 percent commitments until you know your loan has been “cleared to close” and there aren’t any other conditions needed.
Dave Ramsey recommends a 15-year, fixed-rate conventional loan. A conventional loan is not secured by a government agency, making it a little trickier to qualify if you don’t have a credit score. Requirements for a conventional loan with no credit score means you need at least 12 months of flawless payment history on eligible monthly bills, and you may also need to take a homeownership education class. If you do qualify for a conventional loan the benefits far outweigh the effort needed to qualify! We do have other no score loan options ranging including but not limited to FHA and VA.
First, fill out the form and connect with one of our Home Loan Specialists. Then determine how much you want your mortgage payment to be each month. We recommend no more than 25% of your take-home pay.
Check out the How Much House Can I Afford? calculator to help you crunch the numbers! Next, you’ll want to review your Total Cost Analysis provided by your Home Loan Specialist.
Churchill Mortgage and Dave Ramsey are closely aligned through shared principles and core values. The two teams work together to help Americans buy homes the smart way and ultimately become debt-free. This is what we call the real American Dream. Churchill is the only lender that does that, and therefore, the only lender the Dave Ramsey talks about on his show
Find your interest rate, how much you can save, and learn the true cost of your loan.
Get Your Rate from a Mortgage Expert!As a responsible lender, Churchill Mortgage is committed to the principles outlined in federal and state lending laws
ensuring all potential borrowers have access to the same information, services, and opportunities
throughout the home loan process.
Churchill Mortgage Corporation, NMLS #1591 is an Equal Housing Lender.
Programs are for select loan types only and are not available in all states or locations.
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