Do you have questions? We can help! You will find the answers to several frequently asked mortgage questions below.
Do you have questions? We can help! You will find the answers to several frequently asked mortgage questions below.
The pre-approval process is much more complete than pre-qualification. For pre-qualification, the loan officer asks you a few questions and provides you with a pre-qual letter. Pre-approval includes all the steps of a full approval, except for the appraisal and title search. Pre-approval can put you in a better negotiating position, much like a cash buyer.
Usually people refinance to save money, either by obtaining a lower interest rate or by reducing the term of the loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts. The decision to refinance can be difficult, since there are several reasons to refinance. However, if you are looking to save money, try this calculation:
Calculate the total cost of the refinance
Calculate the monthly savings
Divide the total cost of the refinance (#1) by the monthly savings (#2). This is the “break even” time. If you own the house longer than this, you will save money by refinancing.
Since refinancing is a complex topic, consult a mortgage professional.
Brunch 3 wolf moon tempor, sunt aliqua put a bird on it squid single-origin coffee nulla assumenda shoreditch et. Nihil anim keffiyeh helvetica, craft beer labore wes anderson cred nesciunt sapiente ea proident.
A rate lock is a contractual agreement between the lender and buyer. There are four components to a rate lock: loan program, interest rate, points, and the length of the lock.
A mortgage broker counsels you on the loans available from different wholesalers, takes your application, and usually processes the loan which involves putting together the complete file of information about your transaction including the credit report, appraisal, verification of your employment and assets, and so on. When the file is complete, but sometimes sooner, the lender “underwrites” the loan, which means deciding whether or not you are an acceptable risk.
This might sound like a typical response: “every loan is different”, but every loan IS different. We work diligently to close your loan within your timeframe. We are detail‐oriented, timely and unquestionably dedicated. However, you also play a large role in the speed‐to‐closing by being responsive to requests for information. That said, we’ve seen loans take as little as 8 days from application to closing, but most loans take longer.
We strive to have your final underwriting approval in hand well in advance of your closing because no matter how fun and nice we are, no one wants to spend an inordinate amount of time on their mortgage.
We respect how hard you have worked for all you’ve achieved, how valuable your time is and how much of an impact this purchase or refinance will make on your life for years to come.
What is a mortgage rate and how is it determined?
A mortgage rate is the interest rate on a loan to purchase a house. Here are seven factors that affect your interest rate:
We are conveniently located in the Diamond Bar community, at the crossroads of the San Gabriel, Riverside and Orange Counties.
Our mailing address is:
We have a variety of strong commercial loan programs that can best serve your business needs. Contact us for more details, so we may tailor the program that will work best for you.
Exceed Lending is committed to making the home-buying process experience simple and enjoyable for our clientele, from start to finish.
We understand how important a home/investment is to you and the impact it will have on your life. Our team of experienced mortgage professionals wil make every effort to find the best loan program and pricing for your situation.
We have a variety of strong refinancing loan programs that can best serve your needs. Contact us for more details, so we may tailor the program that will work best for you.
Important Disclosure
Copyright 2025 | Exceed Lending | NMLS #1605474 | Licensed to Do Business
in the State of CA
Privacy Policy | Terms and Conditions
Exceed Lending is a properly registered
Fictitious Business Name of Gold Coast Capital Investment,
<a href="http://www2.dre.ca.gov/PublicASP/pplinfo.asp?start=1"
target="_blank" rel="noopener">Cal DRE #01986986