(800) 344-1733 - 6617 Madison Avenue Suite 5, Carmichael, CA 95608
 mortgage loans

 

Frequently Asked Questions

How do I know I am getting the best deal?
I have had some credit problems in the past. Can I still qualify for a home loan?
I have had a bankruptcy recently and was wondering if I can still qualify for a home loan?
Can I get a home loan with NO LOAN FEES?
I would like to own a home but I don’t have the money for a down payment. What can I do?
I'm not sure what type of home loan is best for me. How can I be sure I am getting the right one?
How long does the process take?
If I like a particular interest rate can I lock it in?
What does it mean to “float the interest rate”?
Is it a good idea to lock the rate on a home loan?
I have heard that it is best not to pay points on a loan. Is that true?
Can I get an interest rate on a home loan that is below market?

 

How do I know I am getting the best deal?
We work with approximately 100 different investors. If you think getting up to 4 lenders to compete for your business is good, then 100 are even better. We shop for you.
I have had some credit problems in the past. Can I still qualify for a home loan?
Yes, even if your credit is less that perfect you can still qualify for a loan.
I have had a bankruptcy recently and was wondering if I can still qualify for a home loan?
If your bankruptcy has been discharged at least one day we can help.
Can I get a home loan with NO LOAN FEES?
Yes, just tell your loan officer that you want a quote with that option.
I would like to own a home but I don’t have the money for a down payment. What can I do?
We have loans that don’t require any down payment, so that should not be a problem.
I'm not sure what type of home loan is best for me. How can I be sure I am getting the right one?
Our job is to make sure that the home loan selected does what you need it to do. Your loan officer will ask you some key questions to help you determine what type of loan program is best for you.
How long does the process take?
From start to finish we are looking at 30 days or less for most loan programs.
If I like a particular interest rate can I lock it in?
Yes, you can lock in the interest rate at application time or at a later time if you prefer. Once the rate is locked it is protected and cannot go up.
What does it mean to “float the interest rate”?
It means the interest rate is not locked and it can go up. It fluctuates with market conditions.
Is it a good idea to lock the rate on a home loan?
It really depends upon the market at the time. Your loan officer will be able to advise you as to what the best option may be.
I have heard that it is best not to pay points on a loan. Is that true?
Points can be used to buydown an interest rate resulting in a lower rate. Whether or not it is a good idea really depends upon how long you plan on owning the property. Your loan officer can help you make that determination.
Can I get an interest rate on a home loan that is below market?
Yes, it is possible. We have first time homebuyer programs and permanent interest rate buydowns that can accomplish this.

image
image
Copyright © 2005 AmeriTek Home Mortgage All Rights Reservedimage