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No doubt about it—borrowing can be frightening
and complex. However, it gets far more simple
when you have an expert working on your behalf
who makes sure you’re informed and comfortable
with the process. Collected here for your convenience
are the answers to ten questions we hear often.
If you have any other questions, please feel free
to email us or call 1-877-296-1599.
Q: Can I save money by refinancing
now?
Many homeowners don’t realize they can
save money by putting their equity to work. If
you’re paying higher than the current market
rate, or have considerable revolving debt, we
can get you a mortgage that will save you thousands.
Q: Shouldn’t I wait until
rates drop 2% before refinancing?
Unfortunately, this antiquated “rule
of thumb” still lingers. It’s not valid.
There are a number of reasons to refinance and
a number of factors that affect the timing and
terms. We’re here to assist you in understanding
and resolving these issues.
Q: How do I pick the best
type of home loan for my situation?
Years of experience have made you a specialist
in your profession. Mortgage Assistance’s
specialty is mortgage lending. Give us the opportunity
to share our expertise with you. We’ll assess
your financial needs, present the best loan programs,
and make the process painlessly simple.
Q: Can I get a loan with a
poor credit history or past bankruptcy?
Yes. Lending criteria is getting more flexible
all the time. The knowledgeable loan professionals
at Mortgage Assistance will prove that past credit
problems won’t prevent you from getting a
good loan today. If you have concerns about qualifying,
click here to learn
how we can help.
Q: Do I need to dig out a
pile of documents to get started?
No. It’s true that processing a loan
calls for a good deal of paperwork. We’ll
guide you through the process. If you’re
hoping to qualify for a fixed rate program with
the most attractive rates, it will be helpful
if you can provide verification of income with
paystubs, W2s, or tax returns. However, if you’re
unable to provide income verification, it’s
very likely that we can assist you in attaining
a quality loan.
Q: What will it cost to get
a loan?
Mortgage Assistance won’t ask you for
any application, consultation or up-front appraisal
fees. In the course of processing your loan you
will be given a “good faith estimate”
which itemizes the associated costs. We strive
to price our services so as to win your business
and trust and our customers consistently agree
they receive their money’s worth and more
when working with Mortgage Assistance.
Q: What is an Annual Percentage
Rate (APR)?
Designed to measure the "true cost of
a loan," the APR includes the cost and expenses
of the loan, so it’s typically slightly higher
than your interest rate.
Q: What is PMI and can I get
rid of these payments?
PMI, private mortgage insurance, is usually
required when you buy a house with less than 20%
down. You then pay a PMI premium with each mortgage
payment. Refinancing may be the way to eliminate
your PMI payments while realizing other benefits
as well. Talk to someone at Mortgage Assistance
if you suspect you may be able to rid yourself
from PMI payments.
Q: Can my taxes and homeowners
insurance be included in my payments?
Yes, this option is called an “impound
account.” If you like, we’ll be happy
to set one up for you.
Q: How long will it take to
get my loan?
Typically it takes a couple of weeks to complete
a loan, but if you’re in a bind just let
us know. We’ve been known to get loans done
in two days.
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