Frequently Asked Questions about Mortgages

Here are the answers to some of the most commonly asked questions about mortgages.

How can I apply for mortgages?

By clicking “apply now” anywhere on our site, you will be directed to our free, simple application for quotes on mortgages. Once completed, your application will be matched with up to four mortgage lenders. You will receive quotes from these lenders and can decide which is right for you. Our application is completely free, as are the quotes you will receive.

Are you a mortgage lender?

No, we are not a lending or mortgage institution. We are a free referral service dedicated to matching customers with low-cost, high-value quotes from the best mortgage lenders in the business. We are here as a medium.

What kinds of mortgages do you offer?

Our lenders offer any kind of mortgage you can think of—fixed-rate, adjustable-rate, subprime, and everything else in between. We pride ourselves on matching lenders according to each customer’s unique needs, so you can rest assured that your lender will tailor the mortgage to your needs.

What kind of mortgage is best for me?

Adjustable-rate mortgages (ARMs) often begin with extremely low fixed rates during the initial period. This can be an attractive selling point to many homebuyers, as long as they don’t mind absorbing fluctuating monthly payments once the initial period is over. ARMs are a good way for a buyer who doesn’t intend to remain in one place for very long to get an inexpensive mortgage. Fixed-rate mortgages often come with higher rates initially, but you are guaranteed the security of consistent monthly payments and interest rates for the life of the loan. Fixed-rate mortgages are also much easier to understand than ARMs.

What if my credit is not perfect?

Imperfect credit does not mean you cannot qualify for home mortgages. In fact, an entire industry called subprime mortgages caters to consumers with credit scores of less than 620. Subprime mortgages come with higher rates but give you a chance at homeownership.

How much of a down payment do I need?

A down payment is not necessary with all lenders, but it makes pre-qualifying a lot easier when you have one. Especially if you have less-than-ideal credit, a sizeable down payment can open up more options for you. Ideally, you should shoot for a 20% down payment to build equity in your home as fast as possible and to lower your total interest cost.

If you have further questions, get in touch with us on our Contact Us page.