FREQUENTLY ASKED QUESTIONS
WHEN SHOULD I REFINANCE?
You should refinance your mortgage to lower your interest rate, to lower the amount of years of your loan, when you need to take cash out for home improvements, to send kids to college or just increase your reserve funds.
SHOULD I GET A FIXED RATE OR ADJUSTABLE RATE LOAN?
You should aim to have a fixed rate if you plan on living on the property for a long time. If your plans are to sell the house within a certain numbers of years and the adjustable rate mortgage is much lower than the fixed rate then you might want to chose an adjustable rate mortgage.
WHAT IS A NON-QM MORTGAGE?
A Non-QM mortgage, also known as non-qualified mortgage, is a type of mortgage that does not follow agency guidelines in showing full income documentation to qualify a person for a loan, it uses alternative docs to prove the client's ability to re-pay the loan.