What is the best type of loan for me? - It depends on your situation and what you want to do. How long to you expect to be in the home? How much money are you able to put down? What is your credit situation like? No matter what your situation is, chances are there is a loan program that is right for you. Every situation is different. Fill our our Realtor Referral form and let us find a loan that is right for you.

What are mortgage rates based on? - Mortgage rates basically follow the economy. Generally, when times are bad, mortgage interest rates are good. Rates change up and down all the time and in fact may change several times in the space of a day.

What is a Fixed rate? - The rate is locked in for the life of the loan. Fixed rate loans are the most common.

What is an ARM? - ARM is an acronym for Adjustable Rate Mortgage. An Arm begins at a fixed rate, and then adjusts periodically after that. For example, a 3/1 ARM would be at a fixed rate for the first 3 years, and then would adjust every year afterwards. After the first 3 years, your monthly payment would be recalculated every year, based on your new rate.

What is a Balloon? - Similar to an ARM, Balloons remain fixed for a period of time (usually 5 or 7 years). At the end of that period, you must either pay off the loan, or refinance it again. Balloons are useful if you want a fixed rate but do not expect to be in the home after the balloon period.

Can I be turned down? - The requirements to approve your loan vary not only lender by lender, but also by the program you choose as well. We work with dozens of major lenders, and some are easier to get approved with than others.

How much do I need to put down? - It depends...refinances generally do not require any money down. Most purchases usually require 20% down, although programs do exist that require less.

What is Private Mortgage Insurance, and do I need it? - If your loan amount is more than 80% of the value of your home, you will be required to have PMI. PMI is actually insurance for the investor who is funding your loan. In the event that the borrower defaults on a loan and the house is sold, PMI guarentees that the investor can recover the remaining principal of the loan no matter what the house is actually sold for. The PMI is billed to the borrower along with their monthly payment. The actual amount of PMI depends on what the actual Loan to Value (LTV); PMI begins at 80% and increases every 5% above that.

How can I get Started? - Fill out our online Easy Application, or simply give us a call at (303) 220-0444.

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