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| FAQs |
(Frequently
Asked Questions)
We are committed to serving you. If you could not find the answer to your question on this page, please submit an inquiry form so that one of our loan professionals can address your question personally. What does a mortgage brokerage company do? Mortgage brokerage companies find their clients the best possible mortgage, using their network of mortgage lenders. What is the first step in obtaining a mortgage? The first step in obtaining a mortgage is getting pre-qualified. Once you are pre-qualified, you’ll then know the amount of the home you can purchase, along with an estimate of what the monthly payment will be. How do I get pre-qualified? Simply contact us and one of our loan professionals will be happy to take you through the fast and simple process. Is there a cost for the prequalification? No. Our prequalification process is free, with no obligations. Should I be pre-qualified before I look for a home? Yes, most realtors require that you be pre-qualified before they will take you on as a client. The pre-approval also gives the realtor guidance in the price rage of houses they should show you, and assures them that you are a serious home shopper. Do I have to have perfect credit to be approved for a mortgage? No, at Genesis Mortgage our network of lenders includes institutions who lend to people with challenged credit. If I have good credit can Genesis find me a mortgage? Of course. Our network of lenders includes conventional lenders who have comparable mortgages like those of the larger banking institutions, but using us to find you a lender not only saves you time, but also assures you the best interest rate possible. What determines how much home I can afford? The factors that determine how much of a home you can purchase are your current household income, your credit scores, and the amount of down payment. Can anyone obtain a 100% mortgage loan? Yes. Depending on your credit score, 100% mortgage loans are available. Can Genesis Mortgage help me refinance my home? Yes. One of our loan professionals can assist you in refinancing your home to achieve your financial goals. Can I refinance my home even though I am currently in the process of a Chapter 13 bankruptcy? Yes, however certain conditions would have to be met. Contact one of our loan professionals to see if our Chapter 13 buyout program will work for you. If my bankruptcy has been discharged, how long do I have to wait until I can purchase a home? We have lenders that will qualify you for a mortgage one day after your bankruptcy has been discharged. Does Genesis Mortgage provide a large variety of mortgage loan types? We offer a large variety of mortgage types, however not all mortgages are for all situations. We look at our clients individual needs and tailor their mortgage to fit their lifestyle. If I’m self-employed can I be approved for a mortgage? Yes. Generally all you’ll need is 2 years of business income tax statements, and a few business documents. Contact our loan professionals to see what mortgage type fits your needs. Can Genesis Mortgage help me obtain a mortgage for investment properties? Yes. We have a wide variety of mortgage loans for non-owner occupied homes. Can Genesis Mortgage provide me with a commercial loan? Yes. We currently offer financing on commercial properties. Contact one of our loan professionals for details. How can I contact Genesis Mortgage? Simply contact us by calling our toll free or local number, or simply fill out our convenient contact form and one of our loan professionals will contact you soon. ( Top of Page ) |
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Genesis Mortgage Company