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Frequently Asked Questions

What factors affect mortgage rates?

Mortgage rates are influenced by factors such as external and internal factors. External factors that are not client-related include the bond market, monetary policy and lender margins. Internal factors include your credit score, the loan type, loan term, home type, occupancy, and the size of your down payment.

What are the different loan options you offer?

We offer Conventional, FHA, and VA loans. Each loan type has different requirements for down payment, credit score, and other qualifying factors. Our platform helps you compare these options to find the best fit for your situation.

What is the APR, and how is it different from the interest rate?

The APR (Annual Percentage Rate) includes the interest rate plus additional lender fees and closing costs, giving you a more complete picture of the loan's cost over time.

Do these payments include taxes and insurance?

Your qualifying PITIA does include property taxes and home insurance, but if you put down more than 5% on a conventional loan, you have the right to waive insurance and taxes and pay them yourself when they are due. Mortgage lenders do not control tax or insurance rates and primarily determine your mortgage rate and principal & interest payment. P&I is a function of the loan balance, mortgage interest rate, and the loan length