Buying a home is one of the biggest financial decision you’ll ever make. It is important to have the guidance of an experienced mortgage professional that can answer your questions and “connect the dots” for you in a way that is very easy to understand. Click below to see a “step by step” summary of the loan process.
Learn MoreDon’t be overwhelmed and confused by all the mortgage specific language. We’ve put together this glossary of terms to help guide you through the mortgage lending process. Feel free to reach out to us if you have additional questions.
Learn MoreIn October 2015, the Consumer Financial Protection Bureau (CFPB) made sweeping changes to how the mortgage disclosure process is handled through the implementation of the TILA-RESPA Integrated Disclosure Rule (TRID). Their goal was to provide buyers with more time to fully understand the charges associated for a particular mortgage loan and give you time to decide if you can afford it.
Learn MoreHere are just a few most popular questions usually asked:
Aside from the down payment requirement difference, the best or simple way to answer this question is that FHA allows you to get the lowest possible interest rate even with an average qualifying credit score (660 mid fico). On the other hand, Conventional requires an excellent qualifying middle score of 740 or better to allow you to get the lowest possible interest rate without paying additional fees or the interest rate selected. More information on this when you call us.
No, not directly as a result of 1 pull. It will only go down if you “simultaneously” apply for other credit while also applying for a mortgage
No deals are ever the same. We recommend to never compare your mortgage terms with another person regardless of how much you think you know of them. Credit, income, assets and liabilities differ from person to person. Not to mention, the market movement daily that affects the interest rate being posted.
This is usually a higher number than the actual interest rate your monthly payment is calculated on or your note rate. This is not answered by a simple number readily available because APR is a result of a “broader measure” of cost to a consumer when borrowing money.