Here are some common mortgage questions. Have a question you don’t see answered? Call us at 720-598-0506.
Employment and mortgages
Part of the mortgage process includes verifying income. You must be able to show that you can afford the home loan payments, regardless of the type of home loan program. If you do not have a job or any other way to financially support a mortgage, consider holding off applying for a home loan until you can verify employment and income. If you can prove steady, reliable income – go ahead and apply to pre-qualify for a loan!
Credit and mortgagesCredit is a major player in the home loan process. Your credit score determines your eligibility for home loans and your interest rate. Better your credit, the better your rates.
If you do not have good credit, consider one of the following steps:
- Visit with a credit restoration expert. Contact us for a referral. 720-598-0506
- Take six months to a year and focus on repairing your credit – no late payments, pay down debt, no new credit accounts, etc.
- Learn about the do’s and don’ts of credit when it comes to applying for a mortgage.
Underwater mortgagesDo you owe more on your mortgage than your home is worth? The “housing crisis” of the past several years led to a drop in the value of homes. Many face mortgages that are much higher than their current property values.
- The government has put a handful of programs in place to provide assistance to homeowners. Guidelines and restrictions apply, however there may be options for you depending on the current loan you have. The HARP program and FHA Streamline refinance may help you refinance at a lower rate without an appraisal. Call me at 720-598-0506 to see if you are eligible.
You can switch mortgage lenders at any time - even if you’ve been with your current company for years or if you’re in the midst of refinancing. We’ve met several who are tired of the runaround of the ‘big banks’ and want to switch to someone local and easy to work with. Until you’ve signed on the dotted line – there’s always a way out!
If you’re considering switching lenders, make sure to keep all of the documentation together – your new lender will need to see that. Also, if you’ve already had an appraisal performed, that is one fee that will need to be repeated and cannot be recovered.
We had a great experience with AMG overall. Because of some outside circumstances they were more than willing to go the extra mile in making sure that funding went without a hitch. Communications were always prompt and the online document signing was easy and straightforward.
I never plan to move again but if I did I wouldn't hesitate to go back to Mr Beattie.
Yes! We would definitely use this team again any time. The entire team was extremely helpful in every aspect an step. Jeff and his team was always available to answer any questions. Checking and double checking our documents and crunching numbers within record times during the actual looking stages of a home to find the right one. This team didn't stop till we signed our closing documents. Loved them!
We couldn't have done it without Jeff, Anne, and Brenda. They stayed on top of everything throughout the whole process. We'd definitely recommend them!
Absolutely loved working with Jeff and Anne. They are so knowledgeable and personable. They are available on evenings and weekends to answer all questions. My realtor was horrible and they pretty much assumed the role of realtor and mortgage broker. I have referred them to friends and will continue to do so. Amazing experience!
Jeff Beattie and the entire Alliance Mortgage Group team were professional and responsive throughout the refi process. Special circumstances required increased attention to detail which they managed competently and built my confidence in their team. They will get my exclusive referral for anyone looking for a business with a professional and personal approach when needing to refinance.
The team at AMG were so helpful and knowledgeable about everything we needed to make sure this refinance went smooth! Jeff and his team were there every step of the way to ensuring all my questions were answered and I was completely comfortable with the process. I wouldn't use anyone else to handle or mortgage needs.
We were purchasing a second home in the mountains and had a couple complications with the seller which turned a routine process into a difficult one. Jeff was there every step of the way with us. He and his team were so helpful and knowledgeable about everything we needed to make sure the deal went through! They also were very easy for our real estate agent to work with as well. They provided the documentation needed quickly and were extremely thorough to make sure we hit our deadlines. Without AMG Lending and their hard work our deal would not have happened. We thank Jeff and his team for going above and beyond. We wouldn't use anyone else to handle or mortgage needs and refer everyone we know looking to buy a home or refinancing.
Jeff and his team were completely amazing! I came in needing funds, and Jeff was able to assist with my difficult situation with apparent ease. I absolutely cannot recommend him and his team enough. They were extremely friendly, kind, and efficient. Thank you!!
My husband and I used Jeff Beattie for our refinance. We have refinanced previously and I have never seen such professional and comprehensive service. He explained the process completely from the start and kept us advised as to each step in a timely manner. Whenever we had questions, he promptly responded and made sure we understood all of the details involved and explained in fully comprehensive and comprehensible manner. The refinance was completed in a reasonable time frame and he was most courteous and knowledgeable. I would not hesitate to recommend Jeff.
What an amazing group of folks. So knowledgeable, professional, awesome customer service, prompt follow up, getting the best in all services, friendly...they were top notch all the way around
Every point of buying our home went so smoothly, without a hitch! Thank you so much for helping us buy our dream home! We would recommend Jeff to anyone!