No, there is no application fee, however if the loan does not close for any reason the borrower will be charged for any actual 3rd party fees incurred, such as credit report fees.

The documentation required for each loan differs depending on your situation. Usually we require identification, income, employment, and asset verification, sometimes we need additional items. You will be provided with a list of items needed. Once I’ve submitted my documentation how long will it take before I know if I’ve been pre-approved? We offer same day pre-approvals.

The documentation required for each loan differs depending on your situation. Usually we require identification, income, employment, and asset verification, sometimes we need additional items. You will be provided with a list of items needed. Once I’ve submitted my documentation how long will it take before I know if I’ve been pre-approved? We offer same day pre-approvals.

Every transaction is unique and the average time from application to closing can depend on several factors, we aim for 15 days.

Yes. We are experienced in less than perfect credit scenarios.

Yes, it is still possible to qualify for a mortgage.

Yes, it is still possible to qualify for a mortgage.

Yes, you can still qualify for a mortgage.

It is possible to use cash if the funds are verified and documented with reasonable explanation. Your loan officer can discuss your scenario to provide you with more information.

Yes, as long as you have been receiving it for 6 months and can prove receipt of it for the last 3 months. It must also continue for another 3 years after closing to be used.

If your spouse is listed as a co-borrower than yes their credit score will matter. If your spouse is not listed as a borrower or co-borrower their credit score will not impact the transaction.

What you can afford depends on your income, credit rating, current monthly expenses, down payment and the interest rate.

Your debt-to-income ratio is all your monthly debt payments divided by your gross monthly income.

Yes, there are loan programs that do not require a down payment such as VA and USDA loans.

A no closing cost mortgage means you don’t pay for the closing costs associated with getting a mortgage upfront but instead elect to get a slightly higher mortgage rate and receive lender credit to cover closing costs.

Seller Paid Closing Costs are costs that the Seller will pay on behalf of the Buyer at closing thus reducing the amount of money the Buyer needs at closing. These costs can be charges like appraisal, credit report, title fees, property taxes and homeowners insurance. It cannot go toward the Buyers down payment.

These programs make it easier to purchase a home for those that otherwise may not be able to afford it. There are programs that require little or no down payments, no pre-payment penalties, and limit certain fees and charges the borrower must pay to establish the loan. These programs also have excellent rates.

Mortgage insurance protects the lender against taking a financial loss in the event the mortgagor stops making payments. It is required on mortgage programs that require less than a 20% down payment.

Your monthly mortgage payment includes a payment to the principal balance, interest, and escrow, otherwise known as P.I.T.I. (principal, interest, taxes and insurance). The principal portion will decrease your balance owed each month while the interest goes to the Lender. The Taxes and insurance will go into your escrow account until those bills are due.

The interest rate is the rate you agree to pay for your mortgage loan. It is used to determine the interest portion of your monthly payment. The annual percentage rate (APR) includes your interest rate and prepaid finance charges to give you an average yearly rate. Typically, the higher the loan closing costs and Mortgage Insurance the higher the APR.

A discount point is generally a percentage of the loan amount and is paid to the lender to buy down or lower an interest rate.

A rate lock is an agreement between the lender and borrower guaranteeing the rate for a certain period of time. There are four components to a rate lock: loan program, interest rate, points, and the length of the lock. Typically a standard rate lock is either 30 or 45 days.

Your monthly payment includes an amount which is placed in a fund held by the mortgage company to pay your annual property taxes and insurance premiums. This fund is referred to as an escrow account.