Here are some of our Frequently Asked Questions. If for whatever reason you cannot find an answer here feel free to reach out to us via our 'Contact Us' page with your question.
Closing costs are fees and expenses associated with the purchase or refinancing of a home. They include items such as appraisal fees, title insurance, loan processing fees, and more. The responsibility for paying these costs can vary depending on the terms negotiated between the buyer and the seller, local customs, and the loan program. Typically, both the buyer and seller have some closing costs to pay, but the specific breakdown can be negotiated during the real estate transaction.
Our loan advisors analyze your income and debts thoroughly to determine a monthly mortgage payment that aligns with your comfort level.
Escrow is a financial arrangement where a neutral third party, usually Title, holds and manages funds or assets to ensure both parties fulfill their obligations. It serves as a safeguard, preventing one party from accessing the funds or assets until specific conditions or terms are met. Escrow usually hold Taxes and Insurance funds.
Buyers often seek guidance on the various loan options, both fixed-rate mortgages and adjustable-rate mortgages. There are many Loan types such as: FHA loans, VA loans, USDA loans and more. Each loan is specific to the needs of each individual.
Down Payments: While some loans have as little as a 3% or 3.5% down payment, others offer 0% down payment (VA Loans)
There are many Down Payment Assistance programs available, ask your loan advisor for more specific details.
While the loan process can be smooth and seamless we always council our clients to start early. Loans can be qualified in a manner of minutes and approved in days. (With all paperwork submitted and income verified)
While we love seeing a great credit score, we understand that life happens, fortunately much more programs are available for our lower credit scoring clients.
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