Frequently Asked Questions
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I am not sure that I will qualify for a mortgage loan. What can I do? Speak
to one of our qualified and friendly Loan Officers at (800) 992-0278.
They will be able to calculate your debt-to-income ratio, and explain
which mortgage loan product is best for you. Mortgage
loans can be confusing. Different factors will determine which mortgage
loan product best fits your needs. Depending on how long you plan on
living in the home, an Adjustable Rate Mortgage might be preferred over
a Fixed Rate Mortgage. It may also determine whether or not you should
pay points to "buy down" a lower rate. If you are a First-Time
Homebuyer, you may be able to put down as little as $500. We can tailor-make
a loan to meet your specific needs. Contact a Loan Officer today at
(800) 992-0278. Each
point is equal to 1% of your loan amount. If you are financing $100,000,
and you decide to pay 1 point, this will equal $1,000.00. Generally,
by paying points you can obtain a lower interest rate. Throughout
the processing of your loan, one of our capable Mortgage Specialists
will keep you informed of your current loan status. If your loan is
approved, you will receive a call from your Loan Processor, and a copy
of your Loan Commitment in the mail. Interest may be tax deductible. Consult your Tax Advisor for details
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