Frequently Asked Questions
Here are answers to some commonly
asked questions. If you have questions that aren't listed,
contact us at 408-298-2591. You can email us at .
It shouldn't be a problem. There are many programs available today that require less than 5% down payment. The best thing to do would be to call us and we can find the right program for you.
Yes, the different types of loan programs being offered are changing
every day. We find the best loan scenario for all of our clients.
Unlike big banks that are restricted to using loan programs and
rates being offered at that time by the bank, we have access to
many lenders. What we do is find the lender that best fits your needs.
Call us today and let us show you what we can do for you.
Yes you can. However, the rules regarding this issue are constantly changing. Your best bet would be to contact your accountant. Your accountant can inform you of your best options in regards to this.
With a fixed rate mortgage, the interest rate and the amount you pay each month remain the same over the entire mortgage term, traditionally 15, 20 or 30 years. A number of variations are available, including five- and seven-year fixed rate loans with balloon payments at the end. With an adjustable rate mortgage (ARM), the interest rate fluctuates according to the indexes. Initial interest rates of ARMs are typically lower than fixed rate mortgages. Different ARMs are tied to different financial indexes, some of which fluctuate up or down more quickly than others. To avoid constant and drastic changes, ARMs typically regulate (cap) how much and how often the interest rate and/or payments can change in a year and over the life of the loan. A number of variations are available for adjustable rate mortgages, including hybrids that change from a fixed to an adjustable rate after a period of years.
It depends. Because interest rates and mortgage options change often, your choice of a fixed or adjustable rate mortgage should depend on: the interest rates and mortgage options available when you're buying a house; your view of the future (generally, high inflation will mean ARM rates will go up and lower inflation that they will fall); and how willing you are to take a risk.
Private mortgage insurance (PMI) policies are designed to reimburse a mortgage lender up to a certain amount if you default on your loan. Most lenders require PMI on loans where the borrower makes a down payment of less than 20%. Premiums are usually paid monthly or can be financed. With the exception of some government and older loans, you may be able to drop the mortgage insurance once your equity in the house reaches 22% and you've made timely mortgage payments. The Servicing Lender will have the requirements for canceling the mortgage insurance.
Our Happy Clients
"Chris was recommended to us by out financial planner. We were going through Wells Fargo to refinance our house and were just getting more and more frustrated with Wells Fargo asking for petty documents. We called Chris and from the beginning felt like we had someone on our side, fighting for us. We ended up getting a loan for more that wells Fargo would approve at a lower rate. Chris helped us meet our goals. Don't just go through the bank, they are not looking out for you, they are looking out for the bank. Chris was on our side."
"Rob and his team was great for our home buying process. He ultimately helped us close on a property! He was very thorough in explaining all the different pros and cons, and had a much wider variety of options available compared to some other lenders and banks, which offered a lot of flexibility for us. His team was also extremely responsive through out the whole process. On top of that, given the market, we had to make multiple offers, and Rob never let a rejected offer deter his work, and worked with me and my agent every step of the way. Would definitely recommend him!"
Graham was referred to me by a mortgage lender that I've known for more than 10 years because she felt he could do a better rate for me than her current employer - she was right! Graham makes the process simple, easy, and fast - no stress. He has since helped two colleagues of mine who were extremely happy with their results as well. Thank you, Graham!
Rita did a fantastic job in assisting me with my first home loan. She was very knowledgeable and answered any and all questions I had. She found the best possible loan with the lowest rate/terms and worked with the lender on my behalf to ensure the approval process was painless. Due to her commitment, I was able to get the loan I wanted and close early. Thank you Rita for all your help!
"Chris was recommended to us from our trusted realtor, and he did not disappoint. Chris first helped us with the refinance on our condo, and then with the purchase of our home. He is always so patient with our myriad of questions, clear with what our expectations should be and what our options are, and was so accommodating and flexible with our challenging schedules. He made navigating the mortgage financing process easy when it could easily have been stressful. We would most definitely work with Chris again if the opportunity arose and we recommend him to everyone. Thank you Chris for being the best!"
"We refinanced with Rita several times. We always work with several agents to find a better quote, and Rita beats competitors with excellent rates. She is very easy to work with - open, honest and clearly explains all the steps."
"We recently closed with Rob and Renee for our home loan after being referred by our agent. They were amazing providing support for us with multiple pre-approvals, often within an hour of time sensitive requests, and ultimately worked with us to secure a rate we were comfortable with when it came time to close, despite some changes in the market at the last minute. We closed ahead of schedule and were super happy with the level of service. Would definitely recommend!"
"I met Chris through a close friend. I was in the process of purchasing another home and needed a loan in excess of $1.0MM. Despite my assets being far greater than the loan, there were still hurdles. He was extremely diligent during the entire process. We closed the home purchase inside the contract close deadline of 30 days, and met the 14 day finance contingency. I highly recommend Chris and more than willing to give my personal recommendation. firstname.lastname@example.org. Also, extremely personal and professional."
"Chris Quagliana did an amazing job on our refinance. Excellent customer service, expert knowledge in the field and ability to schedule off hour meetings to accommodate customers busy scheduling. Overall very pleased with the job that he did, would definitely use him again in the future and also recommend him to everyone. Thank you Chris!"