| What states do you operate
in?
We offer mortgage loans in
Maryland, Virginia and Delaware.
Is there any cost or obligation
in submitting my information?
The is no initial cost or
obligation when you contact me by email or call me on the telephone.
How fast are your mortgage
turnaround times?
Once we receive the needed
documentation and or information. We can close your loan within 7 to 30
days. Please keep in mind, the turnaround times for Appraisal and
Title Work will affect how soon we can get your loan closed.
Will I have to pay any
up-front fees?
We give you a free Mortgage
Consultation. However, we do generally collect for the Appraisal
and Credit Report at time of actual Loan Application. Short on cash?
I will see what I can do to work with you on your mortgage transaction,
whether purchase or refinance.
What is the difference
between pre-approval and pre-qualification?
The pre-approval process
is much more complete than pre-qualification. For pre-qualification, the
loan officer asks you a few questions and provides you with a pre-qual
letter. Pre-approval includes all the steps of a full approval, except
for the appraisal and title search. Pre-approval can put you in a better
negotiating position, much like a cash buyer.
When does it make sense
to refinance?
Usually people refinance
to save money, either by obtaining a lower interest rate or by reducing
the term of the loan. Refinancing is also a way to convert an adjustable
loan to a fixed loan or to consolidate debts. The decision to refinance
can be difficult, since there are several reasons to refinance. However,
if you are looking to save money, try this calculation:
Calculate the
total cost of the refinance
Calculate the monthly
savings
Divide the total cost
of the refinance
(#1) by the monthly savings
(#2). This is the "break even" time. If you own the house longer than this,
you will save money by refinancing.
Since refinancing is a complex
topic, consult a mortgage professional.
What is a rate lock?
A rate lock is a contractual
agreement between the lender and buyer. There are four components to a
rate lock: loan program, interest rate, points, and the length of the lock.
Where can I find a listing
of government owned properties?
For an up to date listing,click
here!
Also offering HUD's special
homebuying programs:
 Officer
Next Door
Teacher
Next Door
Homeownership
for public housing residents
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