Common Mortgage Questions
Frequently Asked Questions
If you have additional questions, call or email us at:
(949) 679-6680 or
No. There are loan options available for low credit consumers.
Is excellent credit required to purchase or refinance a home?
Yes. Family can assist with a home purchase, they do not have to live in the home.
Can a family member assist with a home purchase?
Is mortgage insurance required?
Yes and No. Mortgage insurance is required if a loan is more than 80% of the property value. Loans under 80% of the property value do not require mortgage insurance.
Is there any pre-payment penalty if I pay my mortgage off faster or early?
No, there is no pre-payment penalty. You can pay off the mortgage as fast as you want.
What does debt to income ratio (DTI) mean?
A ratio that divides total monthly expenses by monthly gross income. This ratio is used in the loan qualification process.
What does loan to value (LTV) mean?
A ratio that divides loan amount by property value (estimated or appraised value). This ratio is used in the loan qualification process.