FREQUENTLY ASKED QUESTIONS

I know how hard it can be to secure a loan for a house, which is why I want to provide you with the best information and resources at all times. Below you’ll find answers to some of my clients’ frequently asked questions. Still have a question? Feel free to get in touch with me with additional comments and queries.

WHEN SHOULD I REFINANCE?

The answer to this question is different for everybody. I think the correct answer is when it makes sense for you. With a refinance you will be starting a new loan. This means their are a variety of options when doing so such as lowering the term on your mortgage, debt consolidation. Switching products such as FHA to Conventional. The best time to refinance is when it makes sense for you!

DO I REALLY NEED 20% DOWN?

This is a common myth which is not true. While putting 20% down is great if you can afford it, if you don't though you can still get into a great situation with putting less down. Click on the "loan types" tab to learn more about these minimum requirements.

WILL GETTING A MORTGAGE HURT MY CREDIT?

To do a full approval we will have to take a hard pull on your credit to account for your liabilites, and correctly factoring your debt to income. This can negatively impact for a short period of time (usually 120 days) only by a few points. On the flip side of this owning, and maintaining a mortgage is one of the best ways to improve your credit.

WHY SHOULD I USE A REALTOR AS A BUYER?

As a buyer there are no negative impacts from using a realtor. In fact usually the seller is the one who pays the commission for the realtor. A realtor is a trained professional who has access to a variety of homes on, and off market. Realtors are licensed professionals who understand the in's and out's of the homebuying process. They negotiate closing costs, help you through the process, show homes, and are essential to have on your side!

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