Local Home Loan Experts

A quick conversation with your lender about your income, assets, and down payment is all it takes to get prequalified. But if you want to get preapproved, your lender will need to verify your financial information and submit your loan for preliminary underwriting. A preapproval takes a little more time and documentation, but it also carries a lot more weight.

NO

Simply put, FHA Home Loans are mortgages insured by the Federal Housing Administration (FHA). They require lower down payments than normal mortgages.

A conventional mortgage is a loan that is not insured or guaranteed by the government. This means that if you default on the loan, the lender will not be reimbursed by the government. Conventional mortgages are available through private lenders, such as banks and credit unions.

There are many factors to consider when determining how large of a mortgage you can afford. It mostly depends on your monthly income. Talking with a loan officer will give you an idea of the largest optimal loan.

Homeownership has many benefits, such as tax breaks and equity in your home. Renting offers the opportunity for more flexibility with expensive monthly expenses that may not always be predictable or come every month.

Mortgage points are fees you pay to lower your interest rate. They are typically bought at closing. Mortgage points can help you save a lot of money, among other benefits.

Yes because of property taxes and insurance. 

If it's on a fixed rate, the mortgage payment itself will not change.

NO

YES

NO

NO

This depends on your goals and financial situation. Talking to your loan officer about your finances and monthly income helps them determine which mortgage is right for you.

NO - that is a myth.  The more down payment the better but you may not need any down payment!  Talk to us about this so you have the best understanding for your position.

Yes, but you'll have to prove you are credit-worthy in other ways.

Closing costs are the final fees for when you close your home. They are typically 3-6% of your total loan amount.

YES

It depends. If interest rates are nice and low, you may want to lock it in, so you don't pay anymore. You could miss out on lower rates, but you also won't have to deal with higher rates.