On this page you will find some of the more frequent mortgage questions we are asked on a regular basis from some of our more curious mortgage borrowers.
If you are looking for frequently asked mortgage questions about PMI or debt consolidation please consult the What is PMI & the Debt Consolidation FAQ's pages.
Frequently Asked Mortgage Questions Index & In-page Links:
Before you start shopping for your next new home, it's a good idea to determine how much mortgage / house you can comfortably afford.
Most borrowers will want to consider these 4 basic financial indicators before making a new home purchase:
It's also important to consider getting pre-qualified by a licensed Residential Mortgage Loan Originator. This can help strengthen your offer to the seller by documenting that you are, in fact, a "Qualified Buyer."
An experienced mortgage expert from a top-rated mortgage company like Highlands Residential Mortgage will be able to offer you several loan options based on your needs and assist you in finding the best one available.
Contact us today to check your eligibility and get Pre-Qualified.
If you don't have the money for a down payment don't worry, you may still be able to purchase a home! Your King Team at Highlands Residential Mortgage has 100% gift options available.
The gift must be from a down payment assistance program or a relative / significant other.
Contact us to go over all your mortgage options.
A credit report is a current and historical record of your credit activities and employment. It also shows action taken against you because of unpaid accounts, bankruptcy, judgments, liens filed against you plus former addresses and employers.
Here are the 3 major credit score bureaus that lenders pay to obtain your credit information.
You too can obtain a copy of your credit report. Visit www.AnnualCreditReport.com for information on how to obtain a free copy.
Your agent can negotiate the best deal on a home for you. With a Pre-Qualification from us, your Real Estate Agent will be able to demonstrate that you are a fully qualified and capable borrower.
This will strongly influence the Seller and will make the difference between the Seller accepting your offer or someone else's -- even if your offer is better!
If you are not sure who to pick here are some Realtors recommended by Your King Team at Highlands Residential Mortgage.
If you are thinking of purchasing a home soon but are unsure of what you need to do here are 5 basic but important homebuying tasks for all types of mortgage borrowers.
PMI means Private Mortgage Insurance and primarily it protects the lender should the borrower stop making payments on a conventional loan.
But what many forget is that it also gives homebuyers the ability to purchase a home without saving 20 percent down for a down payment.
For more details please visit our What is PMI page.