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Mortgage-Related FAQ


What kind of mortgage services do you offer?

We can get you set up with any kind of mortgage you need.  Whether you are looking to buy your first home, refinance an existing property, borrow from the equity in your home, or even modify the loan you have, we can help.  We work with people with a wide range of credit scores and histories, and we can get you the best rates for your own unique situation.  Construction, no doc, FHA/VA, jumbo, and bailout options are also available through our service.

What mortgage is best for my situation?

Usually, we determine the best type for you by considering the payments you can afford, how long you plan to stay in your new home, how big a down payment you have, and how long a term you want.  Sometimes, an adjustable rate is the best way for you to save money, and sometimes a fixed rate will give you the security you need to feel confident in your purchase.  Regardless, we want to get you into a home that you can both enjoy and finance realistically, setting you up for success rather than foreclosure.

How will my credit score impact my home loan?

An excellent credit score is your best asset when it comes to negotiating a mortgage. The higher your score, the lower rate you can expect, the more flexible terms, and you will even have the power to talk your lender down on documentation costs and other closing fees.  However, people with lower scores are also welcome to apply for a loan through our service.  We are happy to help you build your score by setting you up with affordable payments and terms that will please, and when your score goes up, we can happily help you refinance for even better conditions.

Can I modify my payment terms myself?

It is possible for individuals to arrange loan modifications themselves, by working privately with their lenders.  However, it is usually better to work with an expert who is well accustomed to the back and forth negotiations required to modify mortgage terms and payment options.  The process can be a long and arduous one, taking anywhere from three to six months to complete.  It helps to have an experienced professional guiding you along the way.

Should I refinance now?

There is no set answer for that.  Though it seems like new and better rates are constantly being advertised, it is definitely not recommended that you refinance all the time.  For one thing, you have to make sure that the closing costs do not defeat the purpose of your refinance.  For another, if every time you refinance, you return to a thirty year mortgage, you may achieve lower payments in the short term but the longer your term, the more you will end up paying in interest over the years.  Refinancing is highly recommended if you have an adjustable rate loan that you expect to spike, or if you have not done it in at least 3-5 years and you plan to stay on your property for at least 5 more years.


When to Refinance:

  Your Rate is About to Skyrocket
    If you have an ARM and you suspect that your rate is about to climb significantly, refinancing may be in your best interests.
  Rates Have Dropped Since Your Last Mortgage
    Economic changes over a period of years may mean that the fixed rate you got when you originally financed your home has been replaced by new, lower rates. Refinance to lower your payments and save money.
  You are in Danger of Defaulting or Foreclosure
    Refinance if your situation has changed and you are now threatened with the loss of your home to foreclosure. A new loan can sometimes make all the difference.
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