Frequently Asked Questions

How much can I afford?

How much you can afford depends on your current income, what you have for monthly payments and the type of loan you secure. If you call us, we can usually tell you within minutes how much you can afford (unless you're self employed or paid by commission).

How much money do I need to put down?

Your down payment is determined by the type of loan you select. We have programs that require no down payment. There are closings costs associated with financing a home, but with some programs they can be paid for by the seller. We can often get people into a home with absolutely no money out of pocket. Call us for details!

What kind of loan is best for me?

It depends on how much you want to put down and what programs you are eligible for. Call us and we can help determine which program best suits your needs.

What's the current interest rate?

Rates vary depending on your credit score, the loan program and  the term of the loan. Feel free us for current rates. 

What is mortgage insurance?

Mortgage insurance is required by all lenders on conventional loans when the down payment is less than 20 percent. It is usually paid monthly with your house payment.  We do have a minimum down program that do not require mortgage insurance.

What is the minimum credit score?

Your credit rating is very important when trying to secure a loan. Most borrowers will have three credit scores.  Most programs require that your middle score must be at least a 640.  However, we do have some alternatives if your score is lower.  If you have had more than a couple 30 day late payments in the last 12 months, collection accounts or judgments with outstanding balances, it may hinder your ability to get financing. 

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