How can we help?
Browse the topics or search below to find what you are looking for.
How can we help?
Browse the topics or search below to find what you are looking for.
Do I need to save for a 20% down payment?
No! With FHA loans you can get approved for as little as 3.5% down, VA and USDA
loans can offer you $0-down options, and with Private Mortgage Insurance (PMI) you
can get into your new home with less than a 20% down payment. Whatever your
situation, you have options.
Are Pre-Qualification and Pre-Approval the same thing?
No. Pre-qualification and pre-approval are two different things. Pre-qualification
means that a mortgage lender has reviewed your financial records and believes you
will qualify for a loan. A pre-approval is a conditional committment from a lender
that they will lend you the money for a mortgage.
What's the difference between an adjustable and a fixed rate mortgage?
A fixed rate mortgage means that the interest rate is set when you take out the loan
and will not change. With an adjustable rate mortgage, the interest rate may go up
or down after a certain amount of time. Many adjustable rate mortgages will start at
a lower interest rate than fixed rate mortgages.
What is Private Mortgage Insurance (PMI)?
Private Mortgage Insurance (PMI) is a type of insurance you may be required to pay if
you are taking out a conventional mortgage with a downpayment that is less than
20% of the home's overall value. If you refinance your home with a conventional
loan and your equity is less than 20% of the home's value, you may also be required
to pay PMI. Private Mortgage Insurance protects the lender in the event that you
stop making payments on your loan.
Can I access my home equity before I finish paying off my loan?
Yes! Your mortgage advisor can help you find the right refinance and reverse
mortgage options to help you access your home equity before you've finished paying
off your loan. This can help with covering the cost of remodels, college tuition, long-
term care plans, and more! Talk to your mortgage advisor to find out how you can
access your home equity to cover any of your life's needs.
What do I do if I can't afford my mortgage payment anymore?
The first thing you should do in the event that you can't afford your mortgage
payements anymore is reach out to your lender. An experienced mortgage advisor
can help you find options, such as refinancing or restructuring your loan, to help you
keep up with your payments. Always reach out to your lender to ensure that you can
keep up with your payments and stay in your home.
Licensed In: NV, CA, TX, FL, GA, NC, VA, TN
Address: 5868 Baker RD, Minnetonka, MN, 55345
Phone: 702-766-7762
Email: [email protected]
RESPA Notice of Error/Request for Information, send a request to Attention: Lorem Ipsum. XXX-XXX-XXXX
For licensing information, go to www.nmlsconsumeraccess.org. Cardinal Financial Company, Limited Partnership (NMLS ID 66247). Copyright © 2023 Cardinal Financial Company, Limited Partnership. All trademarks and trade names are the property of Cardinal Financial.