• 1.FAQS
  • How Do I Start The Process Of Getting A Mortgage?

    One of the first steps to buying a home is getting the mortgage process started. The first step to getting a mortgage is to find a top mortgage lender or bank.

    One way to find a top mortgage lender to get the mortgage process started is by doing some research online. The internet has changed how consumers in general shop for services including mortgages. A simple search of top mortgage lenders along with your City and State will provide several pages of results to the top mortgage lenders in your area.

  • What Is The Difference Between A Pre-Qualification & A Pre-Approval?

    One mistake that home buyers commonly make is not getting a pre-approval. Many home buyers believe that a pre-qualification is the same as a pre-approval. This is actually the furthest from the truth.

    A mortgage pre-qualification can easily be defined as an estimation of how much a buyer can borrow. In many cases a pre-qualification is only as good as the piece of paper that it’s written on. It’s fairly common practice that a mortgage lender who pre-qualifies a buyer asks them for information such as income, debts, and other assets without verifying the information. If a buyer is not truthful or makes a mistake when giving the information this can lead to problems in the future when the mortgage is verified by an underwriter.

  • What's a mortgage?

    A mortgage is a loan that allows you to buy a home or other property by securing the loan against the property you buy.

  • What types of mortgage are available?

    There are many different sorts of mortgage to choose from with varying features and benefits. Some of the more common types include:

    Standard variable rate (SVR) mortgages
    Fixed interest rate mortgages
    Tracker rate mortgages

  • What is a tracker mortgage?

    A tracker mortgage is a type of variable rate mortgage. The interest rate usually tracks the Bank of England base rate at a set margin (for example, 1%) above or below it. Tracker mortgage deals can last for as little as one year, or as long as the total life of the loan. Once your tracker deal comes to an end, you’re likely to be automatically transferred on your lender’s standard variable rate (SVR). Typically, this will have a higher rate of interest.

    For more information on the pros and cons of tracker mortgages give our experts a call and they can advise on the best option for your circumstance.