Common Questions
What is a mortgage pre-approval?
A pre-approval is a preliminary assessment of your creditworthiness and financial standing. It provides a clear picture of how much you can borrow and the interest rates available to you before you start your home search.
How do I choose the right loan program?
Choosing the right loan program depends on your specific goals. We analyze your credit history, income, and the property type to recommend a loan that offers the best terms and lowest monthly payments for your situation.
What is the difference between a fixed and adjustable rate?
A fixed-rate mortgage has a constant interest rate for the life of the loan, providing stability and predictable monthly payments. An adjustable-rate mortgage (ARM) has a rate that can change after an initial fixed period, typically offering lower initial rates.
Can I refinance my existing mortgage?
Yes, refinancing is a strategic tool to improve your financial standing. We can help you refinance to secure a lower interest rate, shorten your loan term, or switch from an adjustable to a fixed rate to lock in your current payments.
What are the typical closing costs?
Closing costs typically range from 2% to 5% of the home's purchase price. These include loan origination fees, appraisal fees, title insurance, and other administrative charges. We can help you understand and minimize these expenses.
Are you licensed to help me outside of Florida?
Yes. In addition to Florida, I'm licensed in Georgia, Alabama, and Texas, so I can help you whether you're buying in Jacksonville or across state lines.
Do you work with Realtors and builders, or just buyers directly?
Both. I work directly with homebuyers, and I also partner closely with Realtors and builders throughout my licensed states to help keep transactions moving smoothly from contract to close.
Do you offer services in Spanish?
Yes, I'm bilingual and happy to walk you through the entire mortgage process in Spanish or English, whichever is more comfortable for you.
What documents will I need for my loan application?
Generally you'll need recent pay stubs, your last two years of W-2s, two to three months of bank statements, and a photo ID. If you're self-employed or have additional income sources, I'll let you know exactly what else is needed for your specific situation.
What is PMI (Private Mortgage Insurance)?
On a conventional loan, if your down payment is less than 20% of the purchase price, lenders typically require PMI to protect against default. I can walk you through ways to reduce or avoid this cost depending on your loan program.
What does it mean to lock my interest rate?
Rates can move between the day you apply and the day you close. Locking your rate guarantees it for a set period of time, so I'll help you decide the right time to lock based on where you are in the process.