Trey Schwieterman - Mortgage Loan Consultant

10/29/2026

10/27/2026

The scariest part of buying a home shouldn't be the mortgage process!

Credit scores, down payments, closing costs, and interest rates can sound intimidating when you're not sure where to start.

But you don't need to have everything figured out before talking to a loan officer — that's what I'm here for!

Whether you're ready to buy now or just starting to explore your options, let's put together a plan that takes some of the mystery out of homebuying.

The only thing that should be haunting you this Halloween is your neighbor's decorations!

10/26/2026

Mortgage Monday: Let's Start With a Plan!

Finding your dream home is exciting, but knowing your buying power BEFORE you start looking can make the process even better!

Getting pre-approved helps you understand your budget, estimated monthly payment, and available loan options so you and your Realtor know exactly where to start.

And the best part? We can start with a soft credit pull that won't impact your credit score!

Whether you're buying next month or six months from now, let's put together a plan that works for YOU!

10/23/2026

Disclaimer: I don’t actually yell this when I get an email from underwriting… but the excitement is definitely there.

Nothing gets a loan officer more fired up than seeing those three beautiful words…

CLEAR TO CLOSE! 🏡

10/23/2026

You've been paying rent on time every month, but the thought of applying for a mortgage makes you nervous?

You're definitely not alone.

One of the biggest misconceptions I hear is that you need perfect credit, a massive down payment, or a six-figure income to buy a home.

That's simply not true.

Take a look at the comparison below. For roughly $400 more per month than the example rent payment, you could potentially be building equity in a home of your own instead of paying someone else's mortgage.

Of course, every buyer's situation is different, and homeownership comes with additional expenses. But there are loan programs designed for a variety of financial situations.

Even if you're not quite ready today, we can put together a plan to get you there.

And here's the best part: I can start with a soft credit pull that won't impact your credit score.

You might be closer to homeownership than you think!

10/21/2026

Fall is officially here, and there's nothing better than finding a place to call your own! 🍁🍂🏠

Let's find you a mortgage that fits your budget so you can spend your extra money on the important things… like an unreasonable amount of fall decorations and $7 coffees.

Disclaimer: Pumpkin spice lattes not included at closing. 🎃☕

10/20/2026

FHA vs. Conventional Loans — What's the Difference?

One of the most common questions I get from homebuyers is, "Should I go FHA or Conventional?"

The answer? It depends on your situation.

A lot of people assume FHA loans are only for first-time homebuyers or people with bad credit, while Conventional loans are only for people with excellent credit.

Neither of those assumptions is necessarily true.

Let's break down some of the differences.

1. Down Payment Requirements

FHA: As little as 3.5% down for borrowers with qualifying credit scores.

Conventional: As little as 3% down for eligible borrowers and loan programs.

Both offer opportunities to purchase a home without putting 20% down.

2. Credit Score Requirements

FHA: Generally allows credit scores as low as 580 with 3.5% down. At New American Funding, we also have options for borrowers with scores as low as 500, although additional requirements and restrictions apply.

Conventional: While 620 has historically been a common benchmark, credit requirements depend on the loan program and underwriting. At New American Funding, certain Conventional options may be available with scores as low as 580, subject to additional conditions.

3. Mortgage Insurance

This is one of the biggest differences between the two programs.

FHA: Generally requires both an upfront mortgage insurance premium and an annual mortgage insurance premium paid monthly. Depending on the original loan term and down payment, the annual premium may remain for the life of the loan.

Conventional: Private Mortgage Insurance (PMI) is generally required when putting less than 20% down, but it can typically be removed once certain equity and loan requirements are met.

4. Which One Is Better?

Here's where things get interesting.

Just because someone qualifies for a Conventional loan doesn't automatically mean it's their best option.

And just because someone has a lower credit score doesn't automatically mean FHA is the right choice either.

Interest rates, mortgage insurance, down payment, debt-to-income ratio, and overall loan costs all play a role in determining which program makes the most sense.

My goal as a Loan Consultant isn't just to get someone approved. It's to help them understand their options and structure a mortgage that fits their financial situation and long-term goals.

That's why I always encourage buyers to explore their options before assuming one loan program is better than another.

And remember, at New American Funding, we can start the pre-approval process with a soft credit pull that won't impact your credit score.

Whether you're looking to purchase now or planning for next year, I'm happy to help you understand your options.

10/06/2026

I want to hear from you!

One of my goals with this page is to be more interactive with Homebuyers, Homeowners, Realtors, and other referral partners. I want to know what questions you actually have about mortgages and the homebuying process.

The more we can educate and communicate with each other, the better we can make the homebuying experience for everyone involved.

So what do you want to know?

Drop a question in the comments or send me a message. No question is a bad question, and you might just give me the topic for my next post!

09/30/2026

Took a little bit of a hiatus but time to get the mortgage education back up and running for your upcoming home purchase!

How Much Money Do You Actually Need to Buy a Home?

One of the biggest misconceptions I hear from potential homebuyers is:
“I’d love to buy a house, but I don’t have 20% to put down.”

Here’s the good news — in many cases, you don’t need anywhere close to 20%.

There are really three things we need to look at when figuring out how much money you’ll need to purchase a home:

1. Your down payment
- The amount required depends on your loan program and qualifications. For example, some Conventional programs allow as little as 3% down, FHA can allow as little as 3.5% down for qualifying borrowers, and eligible VA borrowers may have a 0% down payment option.

2. Your closing costs
- Your down payment isn’t the only expense involved. There can also be lender and title fees, appraisal costs, recording fees and other expenses associated with completing the transaction.

3. Your prepaid expenses
- You may also need funds for things like homeowners insurance, property taxes, prepaid interest and your initial escrow account.

Now, this is where having someone actually look at your situation becomes important.

Depending on the loan program and your circumstances, gift funds, seller concessions or down payment/closing cost assistance may be available to help with some of those expenses.

That’s why I don't like throwing out a generic number and saying, “You need $15,000 to buy a house.”

Two people could purchase the exact same $250,000 home and need very different amounts of money at closing.

The takeaway: Don't automatically count yourself out of buying a home because you don't have 20% saved.

Instead of asking, “Do I have enough money to buy a house?” let's figure out how much you would actually need for your specific situation.

Even if you're thinking about buying six months or a year from now, I'm happy to help you put together a plan so you know what to work toward.

And if you'd like to see what you could qualify for today, we can start with a soft credit pull that does not impact your credit score.

Feel free to message me anytime with questions!

TreyLends.com

07/25/2026

5.0 star review received on Experience.com for Trey Schwieterman by Lyra J S - Communication, clarity, response time, and the feeling of being important and heard.

Read more: https://experience.com/reviews/john-15945062/9f40de89-687d-4799-91ec-591ac689b9c5?V=1784990565&utm_source=facebook&utm_medium=autopost&utm_content=13354095