Bona Fide
Mortgage Financing

The process depends on the type of loan and program you are doing. But in general:

• Consultation and Application
• Processing and Initial Underwriting - Gathering documentation and we are requesting 3rd party items (appraisal, title, insurance) as needed
• Loan Approval and Clear to Close
• Closing and Funding 

We process in-house in order to deliver the quickest turn times. We have closed loans as quickly as 5 business days, although average is closer to 2-3 weeks and depends on the type of loan. The quicker you can provide us the documentation needed, the quicker we close the loan. For a more thorough timeline, check out our purchase and refinance pages.

While lenders are locked into one set of rates and guidelines, a mortgage broker can compare options across multiple lenders, ensuring you get the best rate and deal for your needs.
Not often known, brokers also get wholesale pricing, which means they can even get you a lower rate from the same lender than you would get going to the lender directly! This is because we originate and process the loan directly, and the lender handles the UW, closing and funding of the loan.

No matter where you do a loan you will need a licensed loan officer and processor working on it. Instead of calling into a lender and being randomly assigned one, you get to work directly with a vetted and experienced Loan Officer and Processor and also you receive better pricing. It is a win win for clients.

Certainly a higher score puts you in a better position to receive a better rate and terms from lenders, but most conventional loans can go as low as 620 and FHA and VA loans can be seen as low as 550 (lower in some scenarios).

It depends on the loan type. Conventional loans typically require 3% for first time homebuyers, and 5-20% otherwise, FHA loans require as little as 3.5% (Certain loan programs now allow 0% down for FHA). VA and USDA loans can offer 0% down for qualified borrowers. Putting 20% down removes the monthly mortgage insurance which is an additional monthly charge on Conventional loans and a charge on all FHA loans.

We work with over 100 lenders providing loan products for almost every scenario possible when it comes to residential properties. This includes 10-30yr Conventional loans, VA, FHA, DSCR, Jumbo, Bank statement loans, HELOCS, Home Equity, Foriegn National, ITIN, Fix & Flip, Agricultural land loans, and more.

The short answer is Yes. But I will say, if you like the person you are working with and the deal is competitive, It might do well to stay where you are. It is not bad to seek the best deal available, but also very important to trust and like who you work with and have a smooth process.

That being said, we can review any deal and give you a free quote if you aren't sure if you are getting a good offer. Between our wholesale pricing, and lean structure, it would be very rare that we cannot get you the best rates and pricing. Providing excellent rates and pricing to everyone we work with is one of the main reasons this company was created.