Frequently Asked Questions

Select a tile to answer the question.

How are interest rates determined?

Mortgage interest rates fluctuate daily and are determined by many factors, including the economy, your credit score, down payment, loan amount and more. Contact us to being the process, and once you’re ready, we will lock in a mortgage rate for you.

What documents do I need?

Gather your paperwork before you apply for a smoother home loan process.

Your most recent two years of your Form W-2 from your employer
Your most recent two months of your pay stubs
Your most recent two years of your tax returns with your signature
Your most recent two months of your bank & investment statements
Driver’s License and Social Security Card
Homeowners insurance policy declaration pages for all homes

Additional documents may also be needed later in the process. We hope this list will help you get started.

Is there anything I shouldn’t do before I get prequalified?

Some actions during the mortgage loan process can change the outcome of your approval. Don’t do any of these things after receiving a pre-qualification until you have spoken with your Loan Officer to ensure your actions will not affect your loan approval.

Buy a big-ticket item: a car, a boat, an expensive piece of furniture
Change your job or become self employed
Co-sign on a loan with anyone
Make any large deposits to your accounts outside of your paycheck
Use your credit cards or pay bills late
Change bank accounts
Open or close any lines of credit
Let someone run a credit check on you
Spend your money you have saved for your down payment
Take out any payday loans

What is the difference between a pre-qualification & a pre-approval?

A mortgage pre-qualification means we have decided you will likely be approved for a loan up to a certain amount, based on your financial situation and a soft credit pull that will not negatively impact your credit. A pre-approval comes after you apply and provide to us the necessary documents to give you the specific loan amount you can borrow.

Which type of mortgage is best for me?

It depends! While there are no “bad” mortgage loan programs, there may be one that fits your situation better than others. We hope the information we provide on our loan programs help you understand the options, but we guarantee to will place you in a home loan that is best for your needs.

What is mortgage insurance?

Mortgage insurance lowers the risk to the lender of making a loan to you. Typically, borrowers making a down payment of less than 20 percent of the purchase price of the home will need to pay for mortgage insurance until they have paid 20 percent of their loan.