Frequently Asked Questions

Please reach us by phone or email if you cannot find an answer to your question. We are here and happy to help!

What is Private Mortgage Insurance (PMI) ?

If your down payment for a conventional mortgage is less than 20 percent, Private Mortgage Insurance (PMI) is required. If there is a default on the loan, the lender uses the PMI to protect themselves.

Will you need to pull my credit?

Yes. Your credit score, history, and profile are necessary to be able to assess the best loan for you and the best available rate.

How do I know which loan is the best for my particular situation?

The best way to find that out is to get in touch with us. We can assist you every step of the way to ensure you get the best rate and the right type of loan.

What does debt-to-income ratio mean?

This is your monthly debts compared to your gross income. To calculate your debt to income ratio, your monthly expenses/obligations are divided by your gross income.

What are closing costs?

Closing costs are costs that are necessary to close your loan. Examples of one-time closing costs are: escrow fees, title insurance, underwriting fees, notary fees, and recording fees. Examples of closing costs that are recurring are: prepaid interest, property taxes, insurance, or HOA fees.