Frequently Asked Questions

I am not sure which mortgage broker to choose

Choosing the right mortgage broker is a very important decision because it can save you or cost you several extra thousand dollars. Choosing a mortgage broker based only on the lowest rate may not be the best way to do it. Things such as the total cost of the loan, how fast you want to repay the whole loan or how to incorporate your mortgage to your financial planning should also be taken into account. For a more in depth look at how to choose the right mortgage broker for you, read the articles in the About Us section of the site titled "How to Choose a Mortgage Broker" and "How to Choose a Mortgage Lener"..

Why Should I choose your Company?

First, we offer you totally personalized attention with follow ups during the application and even after the mortgage is closed to ensure your maximum level of satisfaction. We also send you periodical Rate Watch Reportsto make sure that you are still getting the best deal possible. In addition, we offer state-of-the-art reports that show you your best alternative for your personal situation. Finally, we have access to hundreds of different loan programs to choose from.

What is the Total Cost Analysis Report?

The Total Cost analysis Report is a report we use to help you decide which loan to use based on your financial goals. We place several loan options side by side. This way, you can see a clear comparison of the tax consequences, total savings and equity accumulation between different mortgage plans.

I am renting right now, and I am not sure I can afford to buy?

If you are renting right now, you most probably can qualify for a mortgage. If you want you can visit us and we’ll prepare a Rent VS Own Report that will show you side by side the differences between buying and renting.

I already have a mortgage but I think I am paying too much, and I also need some money to pay some other debts I have.

The best tool you can use to find out whether you are paying too much is our Debt Consolidation Report. With this report, you can compare the cost of your current mortgage versus a new mortgage and see what you can do with the money saved if any.

Can I be pre-approved for a loan before I’ve found a property?

Absolutely! That’s one of the best things you can do when searching for a house. Being pre-approved gives you a lot of leverage when you negotiate the final price of the property because it shows the seller that you are serious about buying a house. If you want to get a FREE pre-qualification, just gives a call and we’ll prepare it for you.

What are the most important considerations when being approved for a mortgage?

Lenders pay special attention to two things when considering a mortgage application: The buyer’s ability to pay the monthly payment (shown by the credit history and the income,) and the value of the house to be used in collateral in case the buyer defaults in the property.

When should I start shopping for a mortgage and how do I know what I can afford?

The best time to look for a mortgage is before you look for a house. This way you'll know exactly the amount of money you can borrow. You can use the calculators on this site to help you determine these numbers as well as your estimated monthly payments. Get pre-approved for a mortgage before shopping for a home and you'll maximize your negotiating power. It's free and will take only a matter of minutes to get a decision, and there's no obligation until you want to reserve your funds.

What Documents will I need to provide to complete my loan transaction?

The documents needed to complete a loan vary depending on the type of loan that you choose. Here are a few of the most typical ones:

• A fully executed agreement of sale for the property being purchased
• Financial statements for bank and brokerage accounts
• A HUD-1 settlement statement on the property you are selling
• Copy of your most recent pay stub
• Previous W2s
• Copy of a rental lease
• Form 4506
• Homeowner's insurance policy