HOW MUCH DOES ALL OF THIS COST ME?
$0. We do not charge you a single dollar for our services. We are a wholesale brokerage that is reimbursed by our lending partners for finding them qualified borrowers who are eligible for the loan programs they offer.
IS THERE A PRE-PAYMENT PENALTY FOR PAYING OFF MY LOAN EARLY?
No, there is not penalty for paying off your home loan early. I will provide you with several scenarios that will show you the benefits of paying additional money toward your principal balance and how they significantly reduce the time it would take you to own your home outright.
WHAT ABOUT CLOSING COSTS?
To avoid out-of-pocket costs, homeowners can choose to roll the closing costs and fees into the balance of the loan.
WILL I HAVE TO PAY MORTGAGE INSURANCE (MI)?
Some loan programs do require Mortgage Insurance (MI) while others do not. The Mortgage Insurance requirement is different for each program and primarily is based on your down payment amount. At AFC360, we have loan programs that require as little as 5% down with no Mortgage Insurance requirement.
HOW MUCH MONEY DO I NEED FOR A DOWN PAYMENT?
It depends on what loan program is best for you. We have loan programs that have several different down payment requirements including 0%, 3%, 3.5%, 5%, 10%, & 20% of the purchase price.
WHAT ABOUT REFINANCING MY HOME?
A refinance should give you the maximum amount of benefit, from the rate to the terms of repayment. It’s important that you know that there’s never just one answer, and that’s why we present you with all of your refinance options — so you know your choices, and can pick the option that works best for you.
WHAT DOCUMENTS WILL I NEED TO GET PRE-APPROVED?
Because the pre-approval process takes an in-depth look at your assets, income sources, employment history, and credit history to determine how much
home you can afford, the following documents are required:
• Pay Stubs to cover 30-day period
• Tax Returns & W2s for past 2 years
• 2-year employment history
• 2 months recent bank statements
• Current mortgage statement or other evidence of real estate owned
WHAT IS PRE-APPROVAL?
The next step in home loan process is getting pre-approved. We will work with you to find the lender that best meets your needs and you'll receive a set of documents that contains all the info about your loan along with a pre-approval letter, proving to your real estate agent you are financially able to purchase a home.
WHY IS IT IMPORTANT TO GET PRE-QUALIFIED?
Pre-qualifying is important because it determines your eligibility for a specific loan program and gives you an estimate of how much you can afford while creating a road map for the financing process as it moves forward. At AFC360, we have the ability to immediately let you know what loan is the right fit for you and your unique situation.
HOW DO I GET A HOME LOAN?
The first step is to determine what loan programs you qualify for. From there, the next steps are: getting pre-approved, working with a Realtor to find a home, submitting an offer, & processing/closing.
Once your offer to buy has been accepted and you are "in contract", your appraisal will be ordered and your loan documentation will go to an underwriter who will review and verify financial information and request additional items as needed. Once the loan is approved, a closing date will be scheduled. At closing, you'll sign paperwork, finalize your loan and take ownership of your new home.
HOW DO I KNOW WHAT IS THE RIGHT HOME LOAN PROGRAM FOR ME?
There are several different loan programs available and you may qualify for more than one of them. Determining what programs works best for you is all about understanding all of the options available to you and determining what program best meets your individual needs.
WHY SHOULD I WORK WITH JERRY TO GET MY HOME LOAN?
The short answer is.....because I work for you.
I believe that the best borrower is an informed one and I will make sure that you fully understand all of your options (and their differences) available to you. Once you decide what option best meets your objectives, I will maintain constant contact with you throughout the process to make sure that all of your questions are answered and expectations are met.
WHO IS AFC360?
AFC360, powered by Asset Financial Center, is a Wholesale Mortgage Broker that upholds strong values in responsible real estate lending practices. We pride ourselves on our ability to offer a wide range of mortgage options to meet all of our clients’ needs. Honesty, integrity and providing excellent customer service guides us in building our company one day at a time, one conversation at a time. We are boutique firm that delivers BIG results.
With 75+ Wholesale Mortgage Investors, we can identify best program(s) that meets your needs and qualifications. From First-Time-Home-Buyer Programs and down payment assistance to multi-million dollar purchases, we have you covered.
Answers To All Your Questions