FAQ

Accounting, Taxes, Etc.

Q: How to obtain a copy of my tax return?
A: Call our office at 954-929-9506

Q: What should I bring to my tax appointment?
A: Click here for a general list of items to bring

Q: What items are necessary to complete my loan?
A: Click here for list of items to bring

Q: What is the difference in adjustable rate mortgages and fixed rate mortgages?
A: Adjustable rate mortgages have interest rates that change over time. Fixed rate loans have interest rates that remain unchanged over the life of the loan.

Q: What is an appraisal?
A: An opinion of the net worth of an asset as of a specific date.

Q: Why is my Fico/Credit score so important?
A: Unfortunately or fortunately most lenders rely heavily on credit scores. The higher your Fico score the better your chances at obtaining a loan.

Q: Can I save money if I refinance my loan?
A: Click here to enter your scenario (link to a financial calculator)

Q: Do you really save money by closing at the end of the month?
A: Bringing less money to the closing makes it so appealing to homebuyers near the end of the month. In many cases, homebuyers are really strapped for cash and they are counting every penny right around closing. Closing near the end of the month can help with immediate cash need, and it can give the illusion of saving money- but you really don’t save any money in the long term, because the mortgage is still for 30 years (or 15) to the day in either case.

Faith Properties Inc.

Q: What is the difference between a mortgage loan commitment and a mortgage loan pre-approval?
A: A loan commitment is approved from the financial institution with terms of the loan. On the other hand a pre-approval is an assessment of your financial background by a mortgage professional.