Business Details
About
Home Loan ProviderMortgage BrokerMortgage LenderReal Estate Loan ProcessingMortgage Refinance
Mack Blankenship is your Houston local lender. As a loan officer at Rate, one of the largest retail mortgage lenders in the United States, Mack is committed to helping homeowners with home purchase loans and refinances, while simplifying the mortgage process and making your home loan experience easy to navigate. Contact Mack at (713) 324-0506 for more information!
Details
- Onsite servicesNot available
- Wheelchair accessible entranceAvailable
- Wheelchair accessible restroomAvailable
- Wheelchair accessible seatingAvailable
Location
Mack Blankenship at Rate (NMLS #208691)
2603 Augusta Drive, Houston, TX
77057, United States
Hours
Frequently Asked Questions About Mack Blankenship at Rate (NMLS #208691)
What defines a first time home buyer?
According to most federal agencies, including HUD, a “first-time homebuyer” is defined as any individual who has no ownership in a principal residence over the last three years. Have questions about whether you're technically a first-time homebuyer or not? Talk with your loan officer.
How much home can I afford?
The amount you can afford depends on your income, credit score, debt-to-income (DTI) ratio, and down payment. A common rule is the 28/36 rule, meaning your mortgage payment should not exceed 28% of your gross monthly income, and your total debts should not exceed 36%. Use our online mortgage calculator to get an estimate or schedule a consultation with me for a personalized breakdown!
What credit score do I need to buy a home?
While conventional loans typically require a 620+ credit score, you may qualify for an FHA loan with a score as low as 580 (or even 500 with a larger down payment). Higher credit scores lead to better interest rates and lower monthly payments. Need help improving your score? Let’s chat about strategies to boost it before you buy.
How much do I need for a down payment?
Many first-time homebuyers think they need 20% down, but options exist for much less:
FHA Loans: As low as 3.5% down
Conventional Loans: As low as 3% down (for qualified buyers)
VA & USDA Loans: 0% down for eligible veterans and rural homebuyers
We can explore the best option for your situation!
What’s the difference between getting pre-qualified and pre-approved?
Pre-qualification is a quick estimate based on self-reported finances.
Pre-approval is a lender-verified process that gives you a stronger offer advantage when house hunting.
A pre-approval makes you a serious buyer and can help secure a home faster in competitive markets. Let’s get you started today!
How long does the home-buying process take?
On average, buying a home takes 30-60 days once under contract. However, the entire process—from pre-approval to closing—depends on the market, loan type, and speed of paperwork.
What’s PMI, and do I have to pay it?
Private Mortgage Insurance (PMI) is required if you put less than 20% down on a conventional loan. FHA loans also have mortgage insurance premiums (MIP). You can remove PMI once you reach 20% equity or refinance into a new loan.
Can I buy a home with student loan debt?
Yes! Lenders consider your debt-to-income (DTI) ratio, not just your student loans. If your payments are manageable, you can still qualify. We can assess your DTI and find a loan that works for you.
What’s the best type of mortgage for first-time buyers?
It depends on your financial situation! FHA loans are great for lower credit scores, conventional loans offer flexibility, and VA/USDA loans provide zero-down benefits. Let’s explore your options together.
What services does Mack Blankenship at Rate provide?
Mack Blankenship is a Houston local loan officer at Rate, offering home purchase loans and refinancing services to simplify your mortgage process.
How can I contact Mack Blankenship for mortgage assistance?
You can contact Mack at (713) 324-0506 or email mack.blankenship@rate.com for more information or to schedule a consultation.
What are the office hours of Mack Blankenship at Rate?
The office is open Monday to Friday from 9:00 AM to 5:00 PM and is closed on weekends and major holidays such as January 1st.
What credit score is required to buy a home through Mack Blankenship?
Conventional loans typically require a credit score of 620 or higher, while FHA loans may accept scores as low as 580, with options for even lower scores with larger down payments.
What is the difference between pre-qualification and pre-approval?
Pre-qualification is a quick estimate based on your self-reported finances, while pre-approval is a verified process that strengthens your offer when house hunting, making you a serious buyer.
How much down payment do I need for a home loan?
Down payment requirements vary: FHA loans can be as low as 3.5%, conventional loans as low as 3% for qualified buyers, and VA/USDA loans may offer 0% down for eligible applicants.
Can I still qualify for a mortgage if I have student loan debt?
Yes, lenders consider your overall debt-to-income ratio. If your student loan payments are manageable, you can still qualify for a home loan.
What nearby mortgage brokers are close to Mack Blankenship at Rate?
Nearby mortgage brokers include DeeDee Wyms at Guaranteed Rate, Claudia Ceballos - Gateway Mortgage, and Cary Michael Cox NMLS 336786, offering additional mortgage services in the Houston area.
Are there any financial services near Mack Blankenship's office?
Yes, several financial service providers such as Horizon Wealth Advisors, Duff Kitchel & Co, and Philip Green at Guaranteed Rate are located nearby, which could be helpful for financial planning alongside your mortgage needs.
What other professional services are available near Mack Blankenship at Rate?
Nearby, customers can find legal services such as Milano Legal Group and Porter Law Firm, as well as employment agencies like AppleOne Employment Services, useful for comprehensive support during home buying.