Skip to content

Frequently Asked Questions

How much mortgage can I afford?

Affordability is very distinct from qualification. Mortgage lenders review borrowers’ income and monthly liabilities off the credit report to derive the loan size borrowers qualify for. That figure is often much higher than what a client is comfortable spending. The borrowers are much more aware of their monthly expenses (items that are not included on the credit report), future plans and savings goals are the most accurate judges of what they can afford.

What are points on a mortgage?

Origination points are a fee that a mortgage lender (or broker) will charge to originate, process and close your loan. Discount points are upfront charges to lower the interest rate on your mortgage loan.

How to get pre-approved for a mortgage?

To get pre-approved, once you have chosen a mortgage lender, you will need to fill out a mortgage loan application, sign all the preliminary mortgage loan disclosures, and supply your lender with all your supporting income and asset documentation.

How to pay off mortgage early?

There are a few ways to pay off the mortgage loan early. The most basic way is to add additional funds with every monthly payment. The second way is to set up bi-weekly payments. You can also refinance into a short-term mortgage loan. Or you can win the lottery.

How to get a mortgage with bad credit?

Speak to a lender about your situation and have him/her review your credit report. There is a possibility that you might not be able to get a mortgage right away. A lender should be able to guide through the process of improving your credit scores and bringing them up to an acceptable level to get a mortgage.

Is mortgage insurance required??

Mortgage insurance is required for most mortgage transactions with less than 20% equity. In other words, if you are purchasing a home and your down payment is less than 20%, you will be required to purchase mortgage insurance.

How to get a mortgage?

Carefully choose a mortgage lender by getting recommendations from the people you trust or by reading online reviews. Speak to the lender, discuss terms and ask questions. Fill out a mortgage loan application and provide supporting income and asset documentation.

How long does it take to get mortgage pre-approval?

Depending on how busy the market is keeping the mortgage lender, a pre-approval can take one to two weeks. Providing all the supporting income and asset documentation to the mortgage lender upfront can help expedite this process.

How to refinance mortgage?

Identify a mortgage lender you wish to work with, discuss available options, interest rates, and closing costs, fill out the mortgage loan application, lock in the interest rate, provide all the income and asset supporting documentation, proceed to underwriting and then closing.

What are mortgage rates?

A mortgage loan interest rate is the percentage at which a lender is willing to lend you funds to purchase or refinance a property. In other words, an interest rate is a measure of how much a lender will charge you for borrowing money from them.

How to get approved for a mortgage?

Finding the right mortgage lender is a key step to buying your dream home. Explore all available options, get informed on competitive interest rates, and compare closing costs offered by different lenders before making an educated decision. After choosing one that best suits you, fill out their loan application form to lock in the rate of your choice and provide any relevant documentation demonstrating income or assets required for underwriting approval. Finally breeze through closure with ease!

Do you lend in my state?

I lend in all 50 states.

Contact me


4601 Creek Shore Drive, Rockville, MD, 20852