Homebuyers and homeowners usually have many questions when they come to us for help with their home loans.
Below are answers to some of the questions we are asked most often. Don’t see the answer you are looking for here? Please call (919) 238-4934 to schedule a consult.
Q: What are your mortgage rates?
There is no blanket answer to this question, since mortgage rates change over time. Not only that, but your qualifications will affect the rates you receive.
If you contact us for a consultation, we will have a chance to provide you with some estimates based on your information. As one of the leading Raleigh, NC mortgage lenders, feel free to get in contact with us if you have any questions.
Q: What is the maximum amount I can borrow?
Certain types of mortgages have a universal cap, while others depend on the qualifications of individual borrowers. In either case, what type of loan you apply for and your borrower profile will determine the maximum amount.
Q: Is my credit score high enough for me to buy a home?
That depends on the type of mortgage you are applying for. We also will assess your income, debt-to-income ratio, and employment status when making lending decisions.
Many borrowers are surprised to learn that there are mortgage products aimed specifically at customers without perfect credit.
Some examples include USDA loans, VA loans, and FHA loans. During your consultation, we can discuss these and other options with you.
Something else to consider is your down payment. By making a larger down payment, you can compensate for some issues in your credit score.
Plus, you may be able to raise your credit score before submitting your application. We will advise you as to how you can go about that process during your consultation.
Q: Can I buy a home without a 20% down payment?
Yes, it is possible to move into a home without making a 20% down payment. Low down payments are available for conventional loans, FHA loans, VA loans, and USDA loans. Actually, with a VA or USDA mortgage, you can buy a house with zero down.
You do not need a perfect credit score to qualify for a low down payment or no down payment.
Q: What is a fiduciary?
A fiduciary is an entity that puts the interests of the clients it serves ahead of its own. This is how The Martini Mortgage Group operates, and is one of the things that most sets us apart from other mortgage companies.
At other companies, loan officers are compensated based on 100% commission. To ensure no conflict of interest, we pay our experienced strategists on salary.
We take as much time as necessary with you to understand your current situation and your vision for you future. Then we connect you with the products that can help make it happen.
Q: Do you work with borrowers where I live?
We are an Equal Housing Lender based in Raleigh and working with borrowers throughout North Carolina. We can also connect you with a mortgage in Florida, South Carolina, Georgia, Illinois, Tennessee and Virginia.
Martini Mortgage Group at Gold Star Mortgage Financial Group, Corporation | NMLS # 3446 | For licensing information go to: www.nmlsConsumerAccess.org and/or www.GoldStarFinancial.com Please review our Disclosures & Licensing information | Gold Star Mortgage Financial Group Corporation has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency. Equal Housing Lender. For further information about Gold Star Mortgage Financial Group, Corporation, please visit our website at www.GoldStarFinancial.com. Receipt of application does not represent an approval for financing or interest rate guarantee. Applicant subject to credit, acceptable appraisal, title, and underwriting approval. Not all applicants will be approved. Other terms and conditions apply. Contact Gold Star Mortgage Financial Group, Corporation for more information and up-to-date rates.