FAQS

A. Mortgage rates vary from day to day and also from product to product. We work hard to bring you competitive rates regardless of your financial situation. We can connect you with the loan that is most suitable for your needs, and can offer you personalized advice to lower your rate.

A. Checking your credit score is necessary in order to qualify you for a loan. Prequalification for a mortgage does not involve a hard credit check, protecting your score.

A. It is still possible to apply successfully for a competitive home loan, even if your score is not high.

Along with conventional home loans, we can connect you with a number of mortgage products that are backed by the government. These include VA mortgages, USDA loans, and FHA loans.

Because the VA, USDA, and FHA respectively guarantee these loans, they are not as risky for lenders as conventional mortgages would be for the same customers.

As a result, it can be easier to qualify for these types of home loans while still enjoying competitive mortgage rates.

A. Many homebuyers are in this same situation where 20% is too large a down payment to afford.

The government-insured mortgage products that we mentioned above can provide flexible solutions in these situations.

If you qualify for a VA or USDA mortgage, you may even be able to move into a home with zero down. For FHA mortgages, you can expect a down payment range of 3.5% to 10%, depending on your credit score.

As to conventional mortgages, did you know that it is a myth that all conventional loans carry a 20% down payment requirement? In fact, your down payment could be as low as 3% with strong qualifications.

A. When you close on a home, the closing costs are due. These may include components like the application fee, appraisal fee, attorney fee, escrow fee, and so forth.

There are ways you can limit closing costs. Some mortgages have caps for closing costs, and sometimes you can also convince the seller to pay them.