Mortgage Rate Quote Questionnaire
My quote is no point, no closing cost, no fee, you pay appraisal fee & credit report fee upfront, and will be credited back by lender rebate at closing.
Please check my reviews on zillow
For refinance rate quote, please provide the following information:
1. Loan Type: [Owner Occupied/Investment]
2. Property Type: [Single Family/Town House/Condo]
Sometimes a house looks like single family house or townhouse, but it's actually a condo.
If your property requires HOA cert. Then the fee may not be covered as we don't know how much is it.
3. Property Value:
The property value is used to calculate LTV (loan to value).
If the appraisal value comes out low, then the rate may get worse than expected because the LTV changes. In that case, your appraisal fee may be wasted.
4. Loan Amount:5. FICO Score ( or Credit score):6. Desired Loan Term: [30 Yr. Fixed/15 Yr. Fixed/7ARM/5ARM] 7. With Impound: [Yes/No] To find out what is impound, click here8. Your current loan term and rate (for refinance):
If you have a very low rate which I can't make it lower, I'll just let you know without spending time to price it.
Please provide this value.Thanks.
9. Has it been six months since your last refinance (for refinance)?
Your old lender may require you stay six months before doing refinance again.
10. Status [Citizen/Green Card/H1B/OPT, etc]:
11. Property Zip Code [California only]:
Again, appraisal fee will be paid by you upfront and refunded by lender rebate.
Additionally, please let me know if you have the following conditions:
1. Have HELOC (Home Equity Line of Credit)/Second Mortgage: [Yes/No]
2. Does your house have upgrade without permit?
If yes, what kinds of upgrade?
For example, if you have unpermitted kitchen or bath in the garage, then some lenders may not approve the loan, and your appraisal money will be wasted in that case.
3. is borrower taking any kinds of leave from work.
If you have or will have following changes, please let me know.
- job change
- closed bank account recently
- will go on travel
- use gift money
- visa status change
- anything you can think of that may affect the loan application
If you miss any of the questions above,my rate quote may not be accurate. So please try to provide as much information as you can.
Answers to common questions
Q: When should I send document doc to you?
A: As early as possible. So that I'll have enough time to review and register the loan with lender and prepare for the lock.
Q: Is the rate I provide no closing cost and no point?
Q: Do I need to disclose all properties?
A: Yes. As lenders have their own ways to find out all your assets and liabilities.
Q: What will be the rate for next hour, tomorrow or next week?
A: I don't predict rate.