FAQ’s

We are a mortgage broker and have access to lenders with wholesale rates which are not available to the general public.
Most loans close within 30 days.
Yes, often within 24 hours if you come to the office or apply online.
Yes. You are able to select between two online application types; a Quick Application, a 5-Step Application, or a PDF file that you can print and fill out. You can send the PDF via email, fax, mail, or bring in. See our Contact Us page.
Your only upfront fee is the cost of your credit report, which is approximately $21.
Yes, and it is completely free.
The most common time frames are 15 and 30 days locks, but longer locks are available.
Yes, we will discuss this with you during the application and see if this is in your best interest.
We will request the appraisal to be ordered through the investor.
No, we have many mortgage loan options.
Closing costs may consist of an origination fee, processing fee, lenders fee, appraisal, credit report, and title work.
Title work is a search of the property to check for liens, encumberances, and judgements. They also verify property taxes, prepare your documents where you sign the final loan papers and record your mortgages.
We specialize and are licensed in Utah. Legal requirements look at the state the property is located, not the address of the borrower.
This is the process of determining whether a customer has enough cash and sufficient income to meet the qualification requirements set by the lender on a requested loan. A pre-qualification is subject to verification of the information provided by the applicant.
The pre-approval process is much more complete than pre-qualification. Pre-approval includes all the steps of a full approval, except for the appraisal and title search. Pre-approval can put you in a better negotiating position, much like a cash buyer.
Usually people refinance to save money, either by obtaining a lower interest rate or by reducing the term of the loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debt. The decision to refinance can be difficult, since there are several reasons to refinance.

Since refinancing is a complex topic, consult a mortgage professional.

See our Contact Us page.
A rate lock is a contractual agreement between the lender and borrower. The loan must fund within the time period of the lock.
A mortgage broker counsels you on the loans available from different wholesalers, takes your application, and usually processes the loan which involves putting together the complete file of information about your transaction including the credit report, appraisal, verification of your employment and assets, etc. When the file is complete, sometimes sooner, the lender "underwrites" the loan which means deciding whether or not you are an acceptable risk.
Not necessarily. Mortgage brokers do not add any net cost to the lending process, because they perform functions that would otherwise have to be done by employees of the lender. Furthermore, because mortgage brokers deal with multiple lenders—in a typical case, 10 to 15, sometimes more—they can shop for the best terms available on any given day. In addition, they can find the lenders who specialize in various market niches that many other lenders avoid, such as loans to applicants with less than perfect credit ratings, loans to borrowers who do not intend to occupy the property, loans with minimal or no down payment, and so on.
Both income and assets are disclosed and verified, and income is used in determining the applicant's ability to repay the mortgage. Formal verification requires the borrower's employer to verify employment and the borrower's bank to verify deposits. Alternative documentation, designed to save time, accepts copies of the borrower's original bank statements, W-2s and paycheck stubs.
It is the list of settlement charges that the lender is obligated to provide the borrower within three business days of receiving the loan application.
A loan eligible for purchase by the two major Federal agencies that buy mortgages, Fannie Mae and Freddie Mac. The loan limits are currently $417,000 for a single family house.
A mortgage larger than the maximum eligible for purchase by the two Federal agencies, Fannie Mae and Freddie Mac, currently $417,000.
Points are used to buy down the interest rate as part of the charge for the loan, expressed as a percent of the loan amount; e.g., "2 points" means a charge equal to 2% of the loan balance.