My name is Paul Duane and I’m a Loan Officer with MiMutual Mortgage. I’ve been a loan officer since 2005 and am part of a family oriented, locally run office in Grapevine, TX. So while I have seen the good and the bad in the mortgage industry, I’ve always focused on what’s important: doing what is best for you and your family.
I grew up in Tarrant County and happily focus on serving the DFW Metroplex. I went to Nolan Catholic High School in Fort Worth and graduated from Oklahoma State University. I am married to my beautiful wife, Karanae, and we reside in Hurst. Karanae and I have a son, Matthew, and a daughter arriving in 2023! In my free time, I enjoy exploring restaurants with Karanae, catching a concert, attending a sporting event, or firing up the grill and have a pool full of family and friends!
The mortgage process can be complicated. My goal is to make it as pain-free as possible. The biggest compliment I receive is when I hear “That was actually fun!” We have many different programs and options to make sure your family will be in the best position with their mortgage. Give me a call, shoot me a text, or send me an email. I look forward to hearing from you!
My goal is to make the mortgage process as pain-free as possible
Paul was great to work with. Always there to answer any questions. Exceptional at keeping me unto date throughout the process. Highly recommend.
Flower Mound, TX
Paul and his team were always available, professional, friendly and took the time needed to explain each step of the process! Couldn’t have asked for a better and smooth process! What seemed like a complicated mortgage and loan process was made easy and so fast! Will absolutely use Paul and his family owned business again!
North Richland Hills, TX
Paul knew that I had a 30 year mortgage when we bought this home two years ago, but wanted a shorter term. When the rates came down, he was able to trim off 8 years of mortgage payments for us. We paid off the remaining 28 years and got a 20 year note. The real plus side is that we were able to get 2% lower interest rate which made our payments to principle over 2X a much per month. Our plan is to pay a bit extra to pay off the mortgage in 12 years to match my retirement plans. Thank you Paul!
I have worked with Paul and Co on multiple occasions now. My experience on this time around was consistent with all of my other experiences, excellent! Paul makes the process easy and keeps things moving the whole time. He is super easy to work with and makes my life easy. 10/10 would highly recommend Paul to anyone.
He was very fair, honest and treated us like we were his own family.
Fort Worth, TX
The process from start to finish was handled perfectly and efficiently! Fantastic lender to work with!
Paul “the mortgage cowboy” Duane provided us with exceptional knowledge and tools to make the best experience possible.
We had complicated financing needs, and short time line. Paul and his team were pushing as hard as we were to close on time. I’m an Engineer, and all of the numbers Paul quoted me were perfect. That and the commitment to close on time meant the world to my wife and I. We even had to close in the early afternoon so we could leave town to pick up our daughter. Paul and Bob actually came to the closing to “make sure” everything went smoothly. For house #7, we will be calling Paul again!
Paul made the process very easy and seamless. He did a great job staying on top of everything and explaining the process. Truly appreciate his help and will definitely recommend him to others!
Fort Worth, TX
Always fantastic service, we greatly appreciate working with Paul!
North Richland Hills, TX
Great Service, experience, and very knowledgeable.
Mortgage Programs Explained
There is no one-size-fits-all when it comes to mortgage lending. MiMutual has numerous loan options to fit every budget and situation. At MiMutual Mortgage, you can expect a one-on-one consultation to determine the right loan program for your unique situation.
A Conventional loan is a mortgage not guaranteed by the government. However, most conventional loans will follow the guidelines established by Fannie Mae (FNMA) and Freddie Mac (FHLMC). This type of loan is good for borrowers with a favorable credit score and allows more flexibility in loan terms and higher loan limits.
Unlike FHA, VA or RD loans, conventional loans do not require private mortgage insurance (PMI) unless the borrower has less than 20% down. 20% down however, is not a requirement and some conventional loans allow as little as 3% down! Once the loan reaches 20% equity, PMI can be canceled.
In addition to standard conventional loan programs, MiMutual Mortgage also offers the following niche conventional loan programs:
- Fannie Mae HomeReady
- Freddie Mac Home Possible
- Freddie Mac HomeOne
- Freddie Mac Refi Possible
Government loans are backed by the federal government. The loan is funded or originated by the mortgage company, but has a guarantee from either the Federal Housing Administration (FHA), USDA Rural Development (RD), or US Dept of Veterans Affairs (VA).
Government loans open the door for borrowers that have little to no money saved for a down payment, a challenging credit history or have lower credit scores. Government loans offer easier qualifying requirements and are widely used in the industry.
Government-insured loans can be used for purchase, renovation (through the FHA 203(k) loan), or refinance transactions.
Government loan programs include:
- Federal Housing Administration (FHA)
- USDA Rural Development (RD)
- Veterans Affairs (VA)
The Federal Housing Finance Agency (FHFA) sets a limit on the dollar amount a conventional loan must conform to. Any loans beyond this limit are known as a Jumbo loan. With a Jumbo Loan from MiMutual, you can expand your options and find your dream home that will meet your needs now and in the future.
MiMutual Mortgage offers a number of Jumbo Mortgage Programs to fit a variety of situations. These include Purchase loans, Asset-Qualifier, Rate and Term and Cash-Out Refinance loans.
- As little as 10% down
- Loan amounts up to $4 Million
- Primary residence, second homes, and investment properties are eligible
Don’t have much saved for a down payment?
We can help with that!
Down Payment Assistance (DPA) can:
- Reduce out of packet cash to close
- Put cash savings to work by improving the home and growing equity
- Free up cash to pay down student loan debt or other bills
- Save cash to start investing for the future
MiMutual Mortgage offers a number of down payment assistance programs including:
- Chenoa Fund DPA for FHA financing
- The National DPA for Conventional financing
- State Housing Finance Authority DPA and MCC
MiMutual Mortgage is a Renovation Loan specialist. We were even featured on the Lifetime Network “Designing Spaces” home design television show! With a Renovation loan, you can bundle the cost of purchasing or refinancing with the cost of renovation into one single loan!
MiMutual Mortgage offers the FHA 203k and Conventional HomeStyle renovation loans. These allow for the same qualifying factors as a traditional FHA or Conventional loan with the ability to lend up to the estimated after-improved value of the home!
Eligible renovations include:
- Small repairs with a minimum renovation cost of $5,000
- Kitchen remodels including appliances
- New roof
- New flooring
- Instillation of an in-ground pool
Still not finding what you are looking for?
MiMutual Mortgage has a number of unique loan programs including:
- Qualifying on assets without income
- Real Estate Investor programs including DSCR
- Self-Employed financing options
- Bank statement qualifying
MiMutual Mortgage President's Club
2020 and 2021
360 West Top Mortgage Professionals
To determine the Top Mortgage Professionals, we asked real estate industry professionals, recent homebuyers and magazine readers to recommend up to three mortgage professionals that they have worked with and would trust to take care of their own friends and loved ones.
You are about to begin the mortgage loan application
- Applying on the MiMutual Mortgage Online Loan Application is quick, easy, and secure! The loan application will take about 25 minutes to complete.
- Once your application is submitted, you can log back into the MiMutual Mortgage Online Loan Application to securely upload requested documents, view your loan status, and communicate with your mortgage team.
- If you have questions, reach out to your MiMutual Mortgage Loan Officer.
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