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Faq

Frequently Ask Questions

Find answers to frequently asked questions home loan. See the most common topics and more.
  • What documents do I need to prepare for my loan application?
    Below is a standard list of documents that are necessary to begin the qualifying process. Since every situation is unique, please know that it is not unusual for your mortgage professional to ask for additional ...
  • What is an APR?
    The annual percentage rate (APR) is an interest rate reflecting the cost of a mortgage as a yearly rate. This rate is likely to be higher than the stated note rate or advertised rate on ...
  • What are points?
    A point is a percentage of the loan amount, or 1-point = 1% of the loan, so one point on a $100,000 loan is $1,000. Points are costs that need to be paid to a ...
  • Quando devo refinanciar?
    Geralmente é um bom momento para refinanciar quando as taxas de hipoteca são 2% inferiores à taxa atual do seu empréstimo. Pode ser uma opção viável, mesmo que a diferença na taxa de juros seja ...
  • O que são pontos?
    Um ponto é uma porcentagem do valor do empréstimo, ou 1 ponto = 1% do empréstimo, portanto, um ponto em um empréstimo de US $ 100.000 é de US $ 1.000. Pontos são custos que ...
  • What does it mean to lock the interest rate?
    Interest rates can change from the day you apply for a loan to the day you close the transaction. If interest rates rise sharply during the application process it can increase the borrower’s mortgage payment ...
  • Should I pay points to lower my interest rate?
    Yes, if you plan to stay in the property for a least a few years. Paying discount points to lower the loan’s interest rate is a good way to lower your required monthly loan payment, ...
  • When should I refinance?
    It’s generally a good time to refinance when mortgage rates are 2% lower than the current rate on your loan. It may be a viable option even if the interest rate difference is only 1% ...
  • ¿Cuándo debo refinanciar?
    Generalmente es un buen momento para refinanciar cuando las tasas hipotecarias son 2% más bajas que la tasa actual de su préstamo. Puede ser una opción viable incluso si la diferencia en la tasa de ...
  • ¿Qué son los puntos?
    Un punto es un porcentaje del monto del préstamo, o 1 punto = 1% del préstamo, por lo que un punto en un préstamo de $ 100,000 es $ 1,000. Los puntos son costos que ...
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