Frequently Asked Questions

I know how hard it can be to secure a loan for a house, which is why I want to provide you with the best information and resources at all times. Below you’ll find answers to some of my clients’ frequently asked questions. Still have a question? Feel free to get in touch with me with additional comments and queries.

When should I refinance?

When the market has low interest rates relative to what you already have, you should consider a traditional refinance to a lower rate. Or, if you need cash to fund a new project, pay for education, or some reason you should consider getting a cash out refinance or HELOC.

Should I get a fixed rate or adjustable rate loan?

The answer really depends on how comfortable you are with an adjustable rate loan. Adjustable rate loans tend to start at lower interest rate than fixed rate mortgages, but they do adjust. People who take out adjustable rate mortgages need to go through homeownership counseling to make sure they aware of the pros and cons. A fixed rate mortgage has remained the most popular option for consumers.

What is a non-qm loan?

Different from the sub prime mortgages of the past, a non-qm loan is based on alternative guidelines to help those that may not qualify for a traditional loan. Those who get non-qm loans are not always those with financial hardship. A great majority of non-qm loans are made up of self-employed individuals, business owners, and real investors. An interest only loan is one example of a non-qm loan.