FREQUENTLY ASKED QUESTIONS
A home purchase is a big decision and we are always available to answer any questions, in detail, about the mortgage loan process. As a licensed mortgage broker, we focus heavily on helping our clients become knowledgeable and comfortable with the mortgage loan process and we make sure they know that we’re always just a phone call away.
FREE Consultation
Give us a call at 562-378-0121 or contact us today to schedule a free consultation. We’d love to answer all of your home loan questions.
Whether you’re interested in purchasing a home or refinancing, the best way to get started is to contact us to schedule a free consultation. We’ll discuss your goals and determine which is the right solution for you. Let’s put our two decades of expertise in mortgage refinancing to work for you.
The APR (annual percentage rate) refers to the annualized interest rate charged on your mortgage. The APR is dependent on the length, amount, and eligibility of your mortgage. The APR includes loan points and other prepaid finance charges to reflect the true yield on the loan, which is why the APR is normally higher than a loan interest rate.
Conforming loans meet specific criteria, most often referred to as Fannie Mae/Freddie Mac requirements. These loans follow uniform requirements, such as document specs, maximum loan amounts, interest rates, and debt-to-income ratios. Non-conforming loans do not meet these standards due to either the borrower’s financial status or the property not falling within set guidelines.
Disclosures are documents that are sent to clients who have applied for a mortgage. They include the term, rate, costs associated with the loan, state specific disclosures, and federal disclosures.
Each loan is unique, but in general, you will need to provide current income information, ID, accounts where down payment funds will come from (if a purchase), mortgage statement, and homeowner’s insurance.
The most common benefits are a lower monthly payment, remove mortgage insurance, payoff high interest credit card debt, consolidate installment loans into one low monthly payment, and to shorten your loan term to pay off the mortgage sooner. With over 20 years of experience, I’ve learned that there is not one set reason for refinancing.
Give us a call at 562-378-0121 and we’ll show you that refinancing a home loan can be as easy as 1-2-3.
Every lender has different requirements. A good first move would be to contact us at 562-378-0121 so that we can talk about your financial strengths and weaknesses. We can evaluate your individual situation and lay out an action plan to follow.
Minimum credit requirements are always changing. If you have a specific concern regarding your credit, please reach out to us. We’re happy to review your credit report.
“In over 30 years of buy and refinancing homes, Jody was by far the best!!! Jody was extremely prompt and responsive to any questions I had via email or phone. She was totally on target re: anticipated costs and timing in processing the refi, even in the crazy Covid 19 times. I highly recommend her.”
LANCE
“In the old days, your pet dog could get a mortgage. Today, it is very painful getting a mortgage or a refinance. They require so much documentation. Angela, makes it as painless as possible. She crosses every “T” and dots every “i”. If you are going to refinance or get a new mortgage, I highly recommend Angela.”
BRADFORD B.
“Jody was amazing during the refinance process. She was extremely patient & ensured that we got the absolute lowest rate possible. She was also very accessible & quick to respond via both email and phone. She spend whatever time was necessary to answer all of my questions. Definitely recommend!”
CASEY
“On our recent re-fi, Angela provided us many options, explained each option thoroughly and worked hard to find us the loan terms that we wanted. She was really patient with my persistent questions and really showed her deep knowledge and experience within the loan business. I highly recommend Angela for your loan needs.”
