Mortgage FAQs

Here is a list of questions we are typically asked daily. Just click the question for your answer. If you have a specific question you would like answered, please click here to e-mail us.

Q1: How much money do I have to have to buy a home?

Q2: Is there a difference between pre-qualifying and pre-approval?

Q3: What are closing costs?

Q4: What are "points" and do I have to buy points?

Q5: What is an "income-to-debt" ratio and why is it necessary?

Q6: What is the difference between an adjustable rate mortgage and a fixed rate mortgage?

Q7: What is private mortgage insurance (PMI) and why do I have to pay this?

Q8: What is private mortgage insurance?

Q9: If I have a good credit rating and can meet the required monthly mortgage payments, am I obligated to have private mortgage insurance?

Q10: Who pays for private mortgage insurance?

Q11: What is "Truth In Lending"?