More mortgage FAQ (frequently asked questions) on PrimeLending.com
- What types of mortgage options does PrimeLending offer?
- What is a prequalification letter, and why should I have one?
- Should I go through the prequalification process before I begin searching for a home?
- Do I have to pay for the prequalification process?
- When I apply for a mortgage, what documents will I need?
- Is it still possible to qualify for a loan even if I have past credit problems?
- Why did I receive a Truth-In-Lending document?
- How does the annual percentage rate (APR) differ from the interest rate?
- Will I get a copy of my credit report and appraisal?
- How will I know which loan program is best for me?
- What is the difference between a VA and an FHA loan?
- How do I know what my interest rate will be?
- How can I use PrimeLending’s calculators to learn about my loan options?
- Should I get a loan with a fixed or adjustable interest rate?
- What are “origination points”, “discount points”, and “origination fees” in regard to my mortgage?
- How much will I need for a down payment?
- What is a loan-to-value ratio?
- When mortgage lenders say “PITI,” what are they referring to?
- When my loan officer asks me if I want to waive escrows, what exactly does this mean?
- What is a “pre-payment penalty?”
- What inspections or appraisals does the lender require?
- My first mortgage payment is due but I don’t have my payment slips yet. Where should I send the payment?
- Will I have two separate payments if I have a second lien?
- What is the difference between a mortgage broker and a direct lender?
- Who can answer questions not addressed here?
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Joel Richardson, Austin Mortgage Lender
8310 N Capital of Texas Hwy #195
Austin, TX 78731
Tel: (512) 637-0932