Turning Home Ownership Dreams Into Reality
Kind Words From Our Clients
Frequently Asked Questions
You will need documents like a signed sales contract for the property, proof of your income (such as pay stubs, W-2 forms), a list of your current debts, and documents confirming your source of funds for down payment. Depending on the situation, additional documentation may be requested.
APR reflects the yearly cost of a mortgage, including points and other credit costs. It may be higher than the stated note rate, allowing you to compare different mortgage types. However, APR does not impact your monthly payments and a lower APR doesn't always mean a better rate due to the different fees charged by lenders.
Credit scoring systems, like FICO scores, assess your creditworthiness based on factors like bill-paying history, number and type of accounts, outstanding debt, and age of your accounts. Your score influences the likelihood of repaying a loan on time.
Improvements depend on factors like timely bill payments, reducing outstanding debts, and not taking on new debt. Your credit score can be affected by various other factors, such as the type of credit accounts you have or recent credit applications.
At closing, the property ownership is officially transferred from the seller to you. It may involve various parties and can take anywhere from 1-hour to several depending on certain factors.