Purchasing a new home is likely one of the largest investments you will ever make. With it comes responsibility and a plethora of questions. Take a moment to review the most Frequently Asked Questions when it comes to homeownership. If you do not find the topic you are looking for contact us today for more information!
Call us to set an appointment, get your documentation ready or you can use our secured online application.
Pre-qualifying is just the first step. It gives you an idea of how much of a loan you’ll likely qualify for. Pre-approval is the second step, a conditional commitment to actually grant you the mortgage.
Since your situation is unique to you, so it your mortgage. We tailor fit you mortgage to your needs and wants.
Yes, we have first time homebuyer programs that can potentially help you with your down payment, closing costs and appraisal fees.
Once you lock in your interest rate, the only way it can change is if you want to buy down your rate later on in the process.
Mortgage points, discount points are what you pay to buy down your interest rate. 1 point equals 1% of the loan amount.
You will need your down payment which could be anywhere from 0-20% of the sales/ loan amount, closing costs which could be anywhere from 0-6% of the sales/loan amount, appraisal fee which could be anywhere from $450-700 and a home inspection fee of approx. $350.
The loan approval process can take anywhere from 17 days to 45 days. You the borrower can ensure the process goes as quickly as possible by communicating in a timely manner with your loan officer as well as sending in any required documentation as quickly as possible.
Banks appraise properties in order to determine the current market value. They do this to ensure that they are not “over investing” with the loan, by putting up more money than the home is worth. … Banks appraise home because they need to protect their investment, and yours as well.