Archives: FAQs

The duration of the closing process for a mortgage can vary depending on several factors, including the complexity of the transaction, the efficiency of the parties involved, and local regulations. On average, it typically takes between 30 to 45 days from the time your offer is accepted to the closing date. However, it’s essential to...

You should consider refinancing if you want to potentially lower your monthly mortgage payments, reduce your interest rate, shorten your loan term, access home equity, or consolidate debt. Refinancing can save you money or provide financial flexibility depending on your goals and current financial situation.

Yes, you can typically lock in your preapproval rate with a mortgage lender. When you get preapproved for a mortgage, the lender may offer you an interest rate that is valid for a certain period, typically ranging from 30 to 90 days. This rate lock period allows you to secure the interest rate offered to...

Choosing the right mortgage option is a crucial decision in the home-buying process. To determine which mortgage is best for you, consider the following steps: Assess Your Financial Situation: Determine your budget: Calculate your monthly income, expenses, and savings to establish a comfortable mortgage payment range. Check your credit score: A higher credit score can...

The amount you’ll need for a down payment on a mortgage depends on several factors, including the type of loan you choose, your creditworthiness, and the purchase price of the home. Here are some general guidelines: Conventional Loans: Conventional mortgages typically require a down payment of at least 3% to 20% of the home’s purchase...

Determining the home price you can afford is a crucial step in the home-buying process to ensure you don’t stretch your finances too thin. Here’s a step-by-step guide to help you calculate a realistic home price: Evaluate Your Financial Situation: Examine your monthly income, including your salary, any additional sources of income, and regular bonuses...

When applying for a mortgage in the United States, you’ll typically need to provide a set of standard documents to verify your financial and personal information. These documents help lenders assess your creditworthiness and determine your eligibility for a home loan. While specific requirements can vary from lender to lender and depending on the type...

Starting the loan application process for a mortgage in the United States involves several key steps. Here’s a guide to help you get started: Assess Your Financial Situation: Review your credit report and score to ensure accuracy and address any issues. Determine your budget and calculate how much you can comfortably afford for a monthly...

Your Realtor® plays a crucial role in the home-buying process, and while they are not directly involved in the loan application process itself, they provide invaluable assistance and support that can significantly impact your mortgage journey. Here’s how your Realtor® is typically involved in the loan application process: Home Search and Selection: Your Realtor® helps...

When you work with us, you get a team that’s committed to providing a fast, transparent digital mortgage experience backed by superior customer support. As an Unrealfi customer, you can expect: Industry-leading rates quoted in minutes Initial approval in minutes 100% online application process A team that provides support, not sales