Frequently Asked Questions
  1. Bullet How do I pay for my appraisal?

  2. A: Once you submit your loan application, your loan consultant will contact you to discuss appraisal payment.

  1. BulletCan I borrow more money to cover closing costs?

  1. A: Yes. Depending on the loan-to-value (LTV) ratio, we may allow you to borrow more money to cover your non-recurring closing costs and possibly some of your recurring costs up to 1% of your property’s value.

  1. BulletWhat’s the difference between non-recurring and recurring costs?

  1. A: Non-recurring costs are one-time fees associated with closing a loan and include loan fees, appraisal and title fees, taxes and points. Recurring costs are ongoing fees that can include mortgage insurance, property taxes and insurance.

  2. BulletWhat are points?

    A: A “point” is equal to one percent of the loan amount. Points can be either positive (discount points) or

  3. negative (rebate points). The more discount points you choose to pay up-front, the lower your interest rate will be. Or, you can opt for a loan with a higher interest rate in exchange for a rebate, which will give you a credit towards paying some of your non-recurring closing costs, such as title insurance, appraisal and origination fee. You can't get any cash back from rebate points.

  1. BulletHow much does it cost?

    A: Your Mortgage Consultant can give you all the information on closing costs, including how they can be financed with the new loan you may speak with a loan consultant and ask for a free, no-obligation quote.

  1. Bullet How do I know how much house I can afford?

    A: Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history. credit history, current savings And debts,, and the amount of the down payment you are willing to make.

with any additional questions, call 1-954-342-9728 to talk to our experienced Mortgage Consultants!

  1. We've put together answers to some frequently asked questions to help you get

  2. more out of the mortgage process.