Q: If I am going to be buying soon, when should I
start the mortgage process?
A: Immediately! To
increase your buying power and leverage with the seller,
get approved BEFORE you even select a Realtor. This is
explained in the next question. By doing so, you know
exactly what you will be approved for. When you write a
contract, if you are already approved, your sellers can
find comfort in the fact that the deal will not fall
through because of financing, which will be to your
Q: If I am going to be buying soon,
how should I
start the mortgage process?
A: Once you have selected HDS Mortgage, LLC
your home loan, you'll be amazed at how quickly and
simple the loan process moves. Before you know it,
you'll have a mortgage that suits your lifestyle and
saves you money.
Throughout the loan application process, we provide
you with regular updates. You can also email us with
questions or new information. If you want assistance,
your mortgage expert is just a phone call away.
Here is an overview of the loan application process:
STEP TWO-Your loan
is approved and funded!
If you are
refinancing, we will set up a closing that
is convenient to you where you will sign all
the loan documents. If you are buying, we
will work with your agent to schedule
Simple, Strait-forward, Cost Effective
What is a no-cost loan?
We do these loans quite frequently. It is
a loan where you will not have any fees to
pay at all! We will pay all of your closing
costs for you. This type of loan makes the
decision process easy ... If you can lower
your rate, even by 1.5% do it. You are not
paying any fees, so all you are doing is
Q: Why should I consider an adjustable rate?
A: Most homeowners will either move or refinance their
loan within 3-5 years. Why lock into a 30 year rate if
you will only have the loan for a few years? You can
save thousands of dollars in paying a lower rate that
you can obtain with an adjustable mortgage. If you know
you will be in your home for over 5 years and are
comfortable with the fixed rate, then the 30 or 15 year
fixed rate may be your best option. We will help you
decide by showing you the difference.
Q: What is the difference between a conventional loan
and an FHA loan?
A: Better call or
email for this answer. We can go into detail about
the differences and why you would benefit from one or
Q: What is FSBO?
A: For Sale By Owner. Some homeowners will elect to sell
the home themselves to save on Realtor commissions. As a
buyer, you can save also because when a home is listed
with Realtors, the seller will just add the fees to the
price of the home, passing the fees to you. FSBO will
have little or no fees to pass along, saving you money.
***IMPORTANT*** This is another reason to get approved
with us FIRST. This gives you the best option to buy a
FSBO. Once you sign a contract with a Realtor, they will
earn their commissions whether you buy a listed home or
a FSBO, meaning, you may have to pay the fees yourself,
just to buy a home.