If you don't find the answer that you are looking for, just contact us and we'll get you the right answers.
Being pre-qualified is based on your provided information, which will then give you an estimate on the amount that you are able to borrow. A Pre-approval means that your information is evaluated thoroughly. It is a closer estimation of how much you will be approved for.
You [and your co-borrower, if applicable] will need the following documents when applying for a loan:
• Social Security Number
• 2 Years Proof of Employment (If self-employed then please provide most recent 2 years business tax returns and current YTD profit/loss statements as well as balance sheets)
• 2 Most Recent Paystubs
• 2 Most Recent Years of Tax Documents (W-2 statements and tax returns)
• Bank Account Information (2 Most Recent months of asset statements-checking, savings, retirement, etc.)
• Credit Information (Provide details of any new accounts or accounts not currently reporting on your credit report such as: )
• Monthly Expenses (Housing, etc.)
There are many factors that could impact the type of loan that you qualify for. You could reach out to your local loan originator to find out what loan you qualify for. If you need more information on the various types of loans, check out our Loan Types page.
An appraisal is the process of having a licensed and trained individual report on the worth of a home. This individual is completely unbiased and will be able to provide the lender, buyer and seller an accurate value of the home. Having an appraisal done on the home establishes protection for all parties involved. They will determine if repairs are needed, if the price is fair in comparison to other homes within the area, and a detailed report calculating the true value of the home.
An interest rate is the amount it will cost you to borrow the principal loan amount. It could either be a variable or fixed amount and will always be expressed in percentage form. An APR measures a mortgage and includes the interest rate plus discount points, closing costs and broker fees. APR’s are expressed in percentage form.
Closing costs include:
• Loan Origination fees
• Appraisal fees
• Discount Points
• Title Insurance
• Credit Report charges
• Deed-recording fees
• Title Searches
Refinancing is when you replace your current loan with a new loan. This new loan should include improved terms and features than the prior loan. If your current loan is too expensive or risky, then you should look into refinancing. Typically, refinancing is beneficial because you can: Save money Lower your payments Shorten your loan term Change your loan type Consolidate your debts Pay off a Loan with a Due-date or balloon payment
Yes, you can qualify for a mortgage as long as the seasoning requirements for the specific loan type have been met. This is something you can discuss with your Loan Originator in detail.
Where do I begin? I financed my VA mortgage with Sarah over 2 yrs ago, and went straight to her to do my VA Refi. Both of my experiences with Sarah and her team have been without a doubt, EXCEPTIONAL! They made the entire process easy and understandable. I never once felt ripped off or that I was dealing with a shady operation as I have with other lenders (including VA) in the past. Sarah always made me feel more like a friend who had my back! I would write more but I'm out of space! Thank you!
Ron was amazing! Always accessible, easy to talk to, concerned, funny, calming, transparent, thorough, extremely competent.... essentially all the things a person would want their mortgage professional to be, Ron was exactly that. Could not possibly reveommend anyone more highly. A strong 10 out of 10!
We were pleased with the team’s promptness to respond our questions and concerns. They walked us through the process and explained all the details we needed in order to make good decisions. This was our first time purchasing a home which was filled with stress and uncertainty but Patrick and his team lead us through a smooth process until close. We are grateful for the service.
I would like to Thank the Morgage Firm on all there hard work to get me and my wife taking care of, to make our dreams come true on buying our house you made our Dreams come true. And I will be telling everyone I know about the Morgage Firm to go and buy through them. Everyone there was so nice and worked so hard to make our Dreams come true! Thanks again.
Rupert & Margherita Perry
This is not Wendell's email address, I am his friend and let him use my email for the loan process....Wendell does not own a computer...this was a one time deal and it is done. Please do not send anymore emails to this address, if you need to contact him do so by phone, thanks.
From the start David gave me confidence that he could help get me a mortgage. Initially I had decided to go with another company along with my son, sadly that firm was one mixed up group. David welcomed me as a client and helped me every step of the way, accepting my limited knowledge of e-forms and when I had a melt down attempting to follow instruction, he was there to guide me through. I am so pleased I met David and his company.
Thank you SO MUCH for all of your hard work and support! The entire team was wonderful and a special thanks to Julie for your encouragement during a minor 'rough patch' working through it together! Sam--you are wonderful--Denise--we are grateful for your diligence!
Patricia Mckay was excellent. I am a first time homeowner and Patricia was very professional, extremely helpful. She kept my best interest in mind with the multiple offers that I put in. When I finally found my house the seller wanted a fast closing and she was able to get the job done!
I'm extremely grateful and would recommend her services to everyone.
I felt like I was pushed off to employees who did not know what they were doing and was given rushed answers to questions I had once I had agreed to use their services. I was asked for one new required piece of paper every day for a 3 week period. It would have been nice to be asked for multiple items at once so I did not have to go over to give new documents every single day.
Because I'm retired, my financial situation required a little creativity to successfully navigate the loan approval process. Chris and his team were very helpful in guiding me through the process. They were on top of all requirements and addressed any issues immediately. Everything was handled very professionally and they were a pleasure to work with
Every contact with company employees was informative, pleasant, timely and reassuring. What I thought would be a stressful and unpleasant process turned out to be easy and actually enjoyable from the first contact through the closing. I whole heartily recommend The Mortgage Firm.
I can’t say Thank you enough to Lisa and Charles . You made things so easy and explained every step as we worked through things one at a time.. When I got discouraged you turned that into a positive by cheering me on.. And here is sit writing this from my very own home!! I would recommend you to anyone I know looking to finance a home... Great experience!