Mortgage and Home Financing F.A.Q.

General Mortgage Questions

• What about my less-than-perfect credit report?

• What if I don't sell my current house?

• Can I apply for a mortgage if I'm building a new home?

About Mortgage Brokers

• Why should I use a Mortgage Broker?

• Are mortgage brokers lenders or bankers?

• How does a mortgage broker get paid?

• Will a mortgage broker always get consumers the very best rate?

First Time Home Buyers

• What do I need to know about the mortgage loan process?

• How much house can I afford?

• What is the difference between APR and interest rate?

• What are the pros and cons of getting an Adjustable-Rate Mortgage?

• What is the difference between a pre-qualification and a pre-approval?

• How is my mortgage application evaluated?

About Refinancing

• How much of my home equity can I use?

• Will I need an appraisal on my new home?

• Do I have to pay Private Mortgage Insurance (PMI)?

• Is now the time to refinance?

• Can I refinance and use the cash for an addition to my home?

• Can I still refinance even if I don't have much equity?

• What will it cost me to refinance?