FAQ

How do I find out how much home I qualify for?

You can use our online pre-qualification tool! Or, call us at 888-91-RATES to speak with a loan officer and get pre-qualified over the phone.

What are mortgage points?

Mortgage points are essentially a one time fee you can choose to pay if you’d like to get a lower interest rate

What is the difference between being pre-approved and pre-qualified?

When a potential home-buyer is pre-approved, the mortgage lender has collected and verified the information needed for underwriting and approval.
However, when a home-buyer is pre-qualified, they have only provided the lender with the basic information to determine which loan program the home-buyer may qualify for.

What are closing costs?

Closing costs are the are the costs and fees that need to be payed in advance of your closing date. These can include interest, attorney fees, documentation fees, and more.
Learn more about how you can save money on closing costs in our video here

What is the difference between interest rate and APR?

Mortgage interest rate is the monthly cost you pay on the unpaid balance of your home loan. However, Annual Percentage Rate (APR) is both your interest rate and any additional cost or prepaid finance charges such as the origination fee, points, private mortgage insurance, underwriting and processing fees.

Simply put, your interest rate is the rate at which you will make your monthly mortgage payments. On the other hand, APR is a universal measurement that can help you in comparing the cost of other mortgage loans offered by different mortgage lenders.