Have a question on your mind?

First-time homebuyers, and those who already own a home, always have questions during the loan process. Even if you have taken out a mortgage before, you may have forgotten the reason behind some of the rules and procedures. Or you may have a question specific to your own situation.

Here are a few of the many questions we hear most often. If your question isn’t found below, give our loan originators a call. It's why we're here.

1. Do I really need to be pre-qualified to look for a house and make an offer?
We recommend that you get pre-qualified so you know exactly how much you can afford before you start shopping.

2. Who is responsible for having the house inspected? Who pays for it?
A home inspection is not a requirement for your mortgage, but it will help you determine if the house has any problems that need to be addressed. You are responsible for this expense.

3. Do I need to purchase mortgage insurance if I’m making a large down payment?
We have several options on bypassing mortgage insurance. Ask any loan originator and they can explain these scenarios.

4. Is hazard insurance mandatory? Aren’t I covered by my regular insurance company?
Hazard insurance is just another way of saying homeowner’s insurance. You must have insurance on your home in order to get a mortgage.

5. Should I go ahead and pay points upfront? When does it make sense to pay or not to pay them?
On average, one point will bring your interest rate down 0.25 percent. If this is a good decision or not depends on how long you will be occupying the property. Ask any loan originator to show you how long it would take to break even on this expense.