Your Mortgage Consultant
We make the home loan process as simple as possible by guiding you through every step.
10805 Hickory Ridge Road
Josh Barclay is a Senior Loan Officer with Prosperity Home Mortgage. Josh has 20 years of experience in the mortgage financing field. During his career, Josh’s professionalism has always evident and his commitment has always been to try to provide the highest quality of informed mortgage financing and consultation for his clients. His goal is to provide an extraordinary financing experience. By working with Realtors, financial advisors, and CPA’s, Mr. Barclay strives to educate his customers in the mortgage process, guiding them to the right mortgage program that fits their needs, to ensure they are properly informed and that they are comfortable during the process. The average American will be involved in at least 7 mortgage transactions in their lifetime! Mr. Barclay’ s goal is to become your family’s trusted advisor that you will use and refer to friends/family time and time again.
Josh grew up in Columbia, Maryland. He is a Veteran of the United States Navy, and he currently resides in Highland, Maryland with his wife Meredith and his two daughters Annabelle and Madeline.
I'm here to answer allyour mortgage questions
Do I need to save for a 20% down payment?
No! With FHA loans you can get approved for as little as 3.5% down, VA and USDA loans can offer you $0-down options, and with Private Mortgage Insurance (PMI) you can get into your new home with less than a 20% down payment. Whatever your situation, you have options.
Are Pre-Qualification and Pre-Approval the same thing?
No. Pre-qualification and pre-approval are two different things. Pre-qualification means that a mortgage lender has reviewed your financial records and believes you will qualify for a loan. A pre-approval is a conditional committment from a lender that they will lend you the money for a mortgage.
What's the difference between an adjustable and a fixed rate mortgage?
A fixed rate mortgage means that the interest rate is set when you take out the loan and will not change. With an adjustable rate mortgage, the interest rate may go up or down after a certain amount of time. Many adjustable rate mortgages will start at a lower interest rate than fixed rate mortgages.
What is Private Mortgage Insurance (PMI)?
Private Mortgage Insurance (PMI) is a type of insurance you may be required to pay if you are taking out a conventional mortgage with a downpayment that is less than 20% of the home's overall value. If you refinance your home with a conventional loan and your equity is less than 20% of the home's value, you may also be required to pay PMI. Private Mortgage Insurance protects the lender in the event that you stop making payments on your loan.
Can I access my home equity before I finish paying off my loan?
Yes! Your mortgage advisor can help you find the right refinance and reverse mortgage options to help you access your home equity before you've finished paying off your loan. This can help with covering the cost of remodels, college tuition, long-term care plans, and more! Talk to your mortgage advisor to find out how you can access your home equity to cover any of your life's needs.
What do I do if I can't afford my mortgage payment anymore?
The first thing you should do in the event that you can't afford your mortgage payments anymore is reach out to your lender. An experienced mortgage advisor can help you find options, such as refinancing or restructuring your loan, to help you keep up with your payments. Always reach out to your lender to ensure that you can keep up with your payments and stay in your home.
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"Our mission is to provide financing solutions that positively impact lives and make a difference in the communities where we lend."
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