ANGELO CHRISTIAN (Mortgage Broker 69617), THE HOME LOAN INSIDER,
I HAVE HELPED 5948 PEOPLE SO I WONT BE PRACTICING WHEN I HELP YOU.
I HAVE HELPED 5948 PEOPLE SO I WONT BE PRACTICING WHEN I HELP YOU.
Refinancing & Texas Mortgage Loan Questions"Just call and listen in" to what my clients have to say.Free 24 hour pre-recorded message, Call 1-888-416-9420 and press ext. 1. Apply online and get a response within 24 hours. Call me right now to get help: Direct: 832.431.6331 Toll free: 1.888.667.7166 |
Below is a list of the Frequently Asked Questions (FAQ) explained below:
Q. Why Wall Street Banker?
A. You have absolutely nothing to lose. You don’t pay us any money or anything out of your pocket ever! We will offer you the best deal out there, BAR-NONE! We are the LOWEST RATE and FEE GUARANTEE That’s right; if we can’t offer you the best deal then we will do the loan for $0 origination fees to honor our commitment to you. This is how serious we are in helping you and making the deal work. Bring us any deal out there and we will beat it! No matter what, we will do what ever it takes. Before you spend $$$$, talk to us FIRST. What do you have to lose?? NOTHING! NADDA!!!
Q. Why is my credit so important?
A. Your credit score and the overall health of your credit are basically the main determination of the terms and qualification of your loan. The scores range from 350-850. 850 means FLAWLESS credit and 350 means horrible credit. You are rated on your ability to manage and pay your obligations. The lower your credit score is the more risk you present to the bank and therefore will realize higher interest rates. Conversely, it works if you have superb credit you get extra low rates. You get excellent credit by managing and paying your bills on time. It is important to realize that once we begin working on your loan that you do not allow anyone to pull your credit, do not continue to shop for a loan, apply for credit. When you do this, inquires are placed on your credit report and this LOWERS YOUR CREDIT SCORE. By doing this you will end up with a higher rate when you already had a loan approved with us. Also, once you get approved, you must submit your required documents into us immediately so we can close your loan. The longer your loan sits , the more risk you put on yourself for not getting the loan done, lowering your credit score, being susceptible to chance or acts of GOD, and losing the loan.
Q. Do I have to pay any money out of pocket to you?
A. no. you pay $0 money out of pocket to us. You don’t write a check nor give us any credit card information.
Q. Do I have to put any money down?
A. No. In most cases, there will not be any money down required. If you choose or prefer to put money down you can. By doing this you will get a lower payment and may realize a lower rate but it is not a requirement by us.
Q. Why do I have to pay for an appraisal fee?
A. It is a requirement of any and all banks that an appraisal is conducted on your home. The appraisal is one of the most critical determinates in the loan process. We are not allowed to pay for your appraisal. The appraisal belongs to you the homeowner and you get the hard copy of the appraisal. All we get is a digital copy of it to underwrite the loan. An appraiser local to you will generally charge $350 to appraise your home. It takes them about 30 minutes; they take pictures of the home, measure the home and make sure it’s in good condition.
Q. Is my information safe?
A. Absolutely!!! All of our files are locked up. We have secure shredder bins in place. All online information is secure and we are protected with top of the line anti-virus software. We are also a valued member of Honest E Online. We take extra steps and precautionary measures to make sure all your information is secure. We take our business very serious.
Q. Can I get a lower interest rate?
A. You sure can. Once you are approved. Your loan officer will discuss with you the various loan programs and rate that YOU can choose. You can buy down your rate or buy it up. It is totally up to you and what will make the most sense for your overall well being.
Q. What are the steps involved with getting a loan done?
A.Below is some advice that can help during the mortgage loan process from your loan officer.
Q. What are the differences between pre-approved and a commitment letter?
A. We pre-approve you when you fill out a short application. This tells us that based on the brief information you have submitted we most likely can do a loan for you and issue you a good faith estimate of what your loan will look like approximately. A commitment letter is the final approval from the banks underwriters. It tells us what the final terms will be on your loan at closing. We call you up on the phone and let you know when this occurs.
Q. What are closing costs?
A. Closing costs are the necessary and customary fees involved with your loan transaction. All fees roll into your loan so that you won’t have to bring any money to closing. Here is a break down of the closing costs.
Loan origination fee is the fee the bank charges to do your loan. Usually this fee is 1% of your loan amount. This can also be adjusted with your interest rate. The lower your rate you decide to take, the more loan origination you are likely to incur. The higher the rate you take, the lower your loan origination will be. Broker fee=$500. This is a flat fee which the broker charges to do allow access to his banking lines. Processing fee=$600. This is a flat fee that the loan processor charges to process and close your loan with the bank Underwriting fee=$550-899. This fee is for the underwriters who underwrite your loan. Title fees are a separate charge and have nothing to do with our company. They are a 3rd party fee. The state mandates that all mortgage loans be bound by a title. The fees range from 1%-1.5% of your loan amount. Again, these are not our fees and we have no control on these fees. They are mandated and controlled by the state and the title company.
Q. What is PMI?
A. PMI is private mortgage insurance. A bank may require you to have PMI when you do a loan that is greater than 80% loan to value on your home. The purpose of PMI is to insure the bank will be reimbursed for their money in the event that a person defaults on payment. Most of our loans do not come with PMI and we are not an advocate of its use.
Q. What is a prepayment penalty?
A. A prepayment penalty is a fee a lender will charge you for paying off the home early or for trying to refinance before a specified time period. This fee is usually 2% of your loan amount. We are happy to say that 99% of our loans do not come with a prepayment penalty and that it is optional with us. YOU don’t have to have one. We don’t prefer them in most cases. If you need further questions answered, please do not hesitate to call or email to the information below: Respectfully,  Chairman & CEO
Christian Holdings INC. 701 N. Loop 336 E. Suite 103 Conroe, Texas 77301 (Office) 936.333.5989 (Fax) 281-271-8466 (Cell) 832.431.6331 (Toll Free) 888.667.7166 angelo@wsmbanker.com www.angelochristian.com |
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