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Frequently Asked Questions
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1
Fixed vs. Variable vs. Adjustable Rate
2
If I sell my home and buy another, can I take my mortgage with me?
3
Does paying my mortgage bi-weekly really save money or reduce my amortization?
4
Should I take a short-term mortgage or a long-term mortgage?
5
Why do I need to pay an insurance premium?
6
Why do I need an appraisal?
7
I'm self-employed, can I get a mortgage?
8
Can I get a mortgage to renovate my property or pay off my credit cards?
9
What are closing costs?
10
What can I use as my down payment on my new house?
11
What type of documentation will be required to obtain a mortgage?
12
What is a conventional mortgage?
13
What is mortgage loan insurance?
14
What is the minimum down payment needed for a home?
15
What happens when I keep checking my credit at various places?
16
Why doesn't my own bank give me the best interest rate?
17
Who does the mortgage broker represent, the bank or the applicant?
18
How much does it cost to use a broker?
19
Why choose a mortgage broker?
20
How much can I afford to pay for a home?