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Mortgage FAQs

How long does it take to obtain a mortgage loan?

What do I need to provide you with?

Where will my closing be?

What will my closing costs be?

Do I need to escrow?

Do you service your loans?

Will I have a prepayment penalty?

Do I need Mortgage Insurance?

Where do you lend?

When can I lock my loan?

What happens if my rate lock expires?

Will I need an appraisal?

Do I need a prequalification letter?

Do I have to have perfect credit?

What is LTV and why does it matter?

What is the maximum percentage of the property’s value that can be borrowed?

How is an appraisal obtained?

What is the difference between the interest rate and Annual Percentage Rate (APR)?

Should I pay discount points?

Are there any special requirements for a condominium?

Will you need to see my tax returns?

What is title insurance?

What is mortgage insurance?

Do I need homeowner’s insurance?

Do I need flood insurance?

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