Straight answers to common mortgage questions
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Should I get preapproved before I start looking at homes?
Yes. Preapproval tells you how much home you can afford so you shop with confidence. Most sellers expect a preapproval letter with an offer, so having one ready lets you move quickly when you find the right home.
What's the difference between a mortgage broker and a bank?
A bank can only offer its own loan products. As an independent mortgage broker, we work with multiple lenders, compare their programs for your situation and help you choose the best fit. You still get one point of contact from application to closing.
How much do I need for a down payment?
It depends on the loan. Some programs, such as VA loans for eligible borrowers, may not require a down payment, while others have different minimums. We'll walk through the options that fit your goals and savings.
What documents will I need?
Usually recent pay stubs, W-2s or tax returns, bank statements and a photo ID. Self-employed borrowers typically provide business returns as well. We'll send you a personalized checklist so there are no surprises.
Can I get a loan with low credit, a bankruptcy, high debt or missed payments?
Most likely, yes, though the rate may not be what you hoped for. We can give you several options whatever your situation, including hard money loans when a traditional loan isn't possible.
Will checking my options hurt my credit score?
A conversation with us doesn't affect your credit. When it's time for a credit check, we'll tell you first and explain how it works.
Do you really review credit reports for free?
Yes. We'll review your credit report at no cost and suggest specific steps to improve your score before you apply.
When does refinancing make sense?
Common reasons are lowering your payment, changing your term, moving from an adjustable to a fixed rate, removing mortgage insurance or taking cash out. We compare your savings to the closing costs so you can see if and when it pays off.
What can I use a cash-out refinance for?
Homeowners use cash-out refinancing for renovations, paying off higher-interest debt, tuition, emergencies or buying investment property.
Can I apply online?
Yes. Our secure online application takes most people one sitting. You can track your loan's progress online and e-sign most documents.
Do I have to come into the office?
No. We offer phone and video consultations. You're also welcome at our office at 6658 Thornton Avenue in Newark, Monday to Friday, 10am to 6pm.
Still have questions?
Talk to a real person in Newark. No pressure, no obligation.
Equal Housing Opportunity. This is not a commitment to lend. All loans subject to credit approval, underwriting guidelines and property eligibility. Programs, rates and terms are subject to change without notice.