Financing Your New Home

Homeowners relaxing in their living room

Learn More About Financing Your Home

So you can focus on what matters day to day, we've made the mortgage loan process easier. Mungo Homes has partnered with Silverton Mortgage, one of the nation’s fastest-growing financial companies. When you use Silverton Mortgage to finance* your home, you may receive up to $3,500 toward your closing costs, making your transition to your new home that much smoother.

    Use the mortgage calculator to help you understand how much home you may be able to afford.

    • Estimate your monthly payment based on a specific loan amount.
    • Depending on interest rates, mortgage products and credit scores, you may be able to afford more home than you think!
    • The calculated Monthly Payment amount includes only the principal and interest amounts. Taxes and insurance are not included.
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    The Mungo HomesMortgage Calculator

    Get Pre-Approved with Silverton Mortgage

    Founded in 1998, Silverton Mortgage has grown from a one-person shop to a top residential mortgage lender. Silverton Mortgage believes that maintaining the entire loan process in-house keeps everyone involved: borrower, realtor and Silverton Mortgage. They credit their years of success to the trust of clients and the hard work of the talented individuals on their team. Learn more about what makes Silverton Mortgage different.

    Contact a Mortgage Loan Originator for a free confidential review of your financial situation. Then you can visit one of our model homes with a pre-approval letter and confidence of your ability to purchase a new home.

    Apply Now
    After applying for your new home mortgage, keep these things in mind.


    Things to Remember

    After applying for your new home mortgage, keep these things in mind.
    • 1
      Do not increase your debt by making any major purchases such as a car, furniture, or electronics.
    • 2
      Do not move funds between accounts.
    • 3
      Save all documentation on any deposits into your accounts.
    • 4
      Keep balances on all revolving accounts as low as possible.
    • 5
      Be sure payments on all current accounts are paid on time!

    Financing FAQs


    What is the benefit of using Silverton Mortgage to finance your loan?


    Silverton Mortgage has a team of processors and underwriters specifically for Mungo Homes’ buyers, who are available for pre-approval and to answer questions seven days a week. A mortgage loan officer will do a free, confidential review of your financial situation and advise you on the home loan that best suits your needs. There are a wide variety of products (different types of loans) available specifically for Mungo buyers. Silverton is familiar with our sales team and closing coordinators, offers competitive rates. In addition, Mungo Homes does not provide a closing cost contribution if you use other lenders.


      What documents do I need to apply for a new home loan?


      Items needed for a loan application may include W-2s and tax returns from the last two years, current pay stubs with year to date earnings, statements for checking, savings, other bank or investment accounts, proof of monthly rental or mortgage payments, and the names of current or past employers. There are also programs available for buyers with non-traditional careers; don’t let the fact that you don’t have access to some of these documents keep you from applying. Two years of employment history is required.


        What is a credit score?


        Along with a credit report, lenders will request a credit score (FICO) to help determine whether or not you are eligible for a loan. The score is a credit overview and is weighed by the following:

        • 35% payment history
        • 30% amounts owed
        • 15% length of credit history
        • 10% new credit
        • 10% types of credit used
        • A median credit score (FICO) ranges from 690 to 740, though many loan programs consider scores as low as 580.

          Can you explain the mortgage process?


          You’ve found your dream home and are in the process of closing on your loan, but you haven’t crossed the finish line yet! In this blog, Silverton Mortgage breaks down what you should NOT do leading up to your closing day so that there are no roadblocks as you near the end of your homebuying journey.


            Can you define basic mortgage terminology?


            Adjustable Rate Mortgage (ARM) – a mortgage whose interest rate changes over time-based on the index.

            Annual Percentage Rate (APR) – the total yearly cost of a mortgage expressed as a percentage. It includes interest and other finance charges such as points, origination fees and mortgage insurance.

            Debt-to-Income Ratio – the ratio used as a factor in determining if you qualify for a mortgage. Compares your total monthly housing expense and other debt (the amount you pay out) with your total monthly gross income (the amount you earn).

            Deed – the legal document conveying title to a property.

            Down Payment – the difference between the sales price of the home and the mortgage amount. Buyer pays with cash and does not finance with a mortgage.Load More

              All loans are subject to credit approval.

              *Silverton Mortgage closing cost credit is paid by Mungo Homes and is only available for borrowers financing the purchase of a new home from Mungo Homes with Silverton Mortgage. Closing cost credit will be limited to the amount of the actual closing costs, up to $3,500. Closing costs that exceed $3,500 are the responsibility of and must be paid by the buyer financing with Silverton Mortgage. Closing cost credit may not be available with all loan programs.

              Vanderbilt Mortgage and Finance, Inc., dba Silverton Mortgage, 1201 Peachtree St NE, Ste 2050, Atlanta, Georgia 30361, 855-815-0291, NMLS #1561, (, AZ Lic. #BK-0902616, Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act license, Georgia Residential Mortgage (Lic. #6911), MT Lic. #1561, Licensed by the N.J. Department of Banking and Insurance, Licensed by PA Dept. of Banking, Rhode Island Licensed Lender. All information is believed accurate and is subject to change without notice. Equal Housing Opportunity. Licensing information:

              New home buyers walking outside with their dog

              We absolutely love our home and have had no regrets about the plan that we chose. We could not be more happy!


              Have a New Home Question?

              The Mungo Team is here to help you find your new home.

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              Some homes are shown by appointment only. Contact our Online Team to request an appointment.

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