Litton Mortgage offers nationally competitive low interest rates with offices located in Shreveport & West Monroe, we provide low closing costs and LOCAL customer service.
With Litton Mortgage, You get the advantage of having the low interest rates of a national lender along with the LOCAL advantage of doing business with a company in your area that can save you money on closing costs and will also work with you personally to secure the best financing for your situation.
We have quick approval turn times and very often have clients approved before the closing date.
Are you already working with another lender or bank? Bring us their Good Faith Estimate and let us compare true “apples to apples.” Chances are very high that we can get you a better deal and get you to loan closing more quickly as well.
What Exactly ARE Closing Costs?
There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract. Closing costs include actual costs associated with closing the loan such as Loan Originaton Fees, Title Company Fees, Appraisal, Credit Report, etc. But, there are also other fees called Prepaids and Escrow too. Typically Prepaids include 1 year of insurance pre-paid in advance. Escrow is a few months of insurance and taxes deposited in the escrow account at the lender so that when taxes and insurance are due, there are sufficient funds to pay those annually. In certain circumstances, when a person has a minimum of 20% down payment (when buying a home) or 20% equity (when refinancing a home) the person can choose to continue to escrow (including taxes and insurance in their monthly payment as normal OR they can choose to not escrow (paying only the principal interest as the monthly payment and paying taxes and insurance on your own each year).
There are certain loans that we offer that allow the seller to pay all of Closing Costs INCLUDING the prepaids and escrow. What that means to you is less out of pocket money at closing. In certain situations, you can secure a loan and come to closing with $0. Ask Litton Mortgage how, today!