How well do you know your mortgage lender?

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We specialize in Conventional, Jumbo, FHA, & VA. We do them well and we do them fast!

In addition to those above, we also specialize in down payment assistance, and we have access to more than one program. We have non-conventional loans as well, such as DSCR, no ratio (no income) for business purposes, bank statement loans (no tax returns for self-employed), HECM (reverse mortgage), HELOC, and second mortgages.

As a true broker, we don't fund the loans, our lending partners do. We know which of our investors portfolio their loans and which ones don't. So if that's important to the client we can be sure to take the loan to the right lender. Just know, that all lenders reserve the right to eventually sell the servicing to their loans.

Yes! We have access to both Home Possible and HomeReady, as well as down payment assistance programs which piggyback on top of FHA loans, although not every DPA program requires the borrower to be a first time buyer.

14 days on Conventional loans!

Family Financial has no overlays! Remember, as a broker we are not the underwriter. If we run into an underwriting overlay that jeopardizes our loan approval we simply move the loan to a different underwriter. There's no re-applying, or additional credit hits. This is just one of the reasons why brokers are better for the consumer.

Rate locks are typically 15, 30, or 45 days in length, although Family Financial has custom rate locks of any number of days! Saves clients money. If we do need to extend a lock, most lenders charge about 0.025% per day. On a $450,000 loan this would equate to $112.50 per day, until closing.

As of this writing, only VA loans allow for assumption. This can also be lender specific, so if this is something that's needed, please bring it to our attention.

Prepayment penalties (PP) are a thing of the past if we're talking about Conventional mortgages. They are essentially illegal. Although non-QM (non-Conventional mortgages) do have PP's and they are allowed to have them because they are private money lenders. Most of the time, borrowers have the option of buying themselves out of the PP's.

The cost to buy down interest rates vary day to day because it's tied directly to the price of the rate. Rates are like stocks, there's the value and there's the price. Depending on market conditions, rates can change daily and sometimes several times daily. On one day, the cost to buy down the rate may be only a couple of hundred dollars and seem like a no-brainer. Whereas on another day, it may be thousands of dollars and require a deeper discussion.

FHA loans have lower rates, at least compared to Conventional loans. 580 is the base credit score requirement for most lenders, although some go lower with more money down. 

Yes absolutely. We will have a detailed conversation about it so they understand, and the lender/broker is required to send a written Statement of Denial to them as well.

Family Financial actually utilizes a "soft credit check" which does not show up on credit or affect scores, and is just as thorough. A hard credit inquiry is checked at time of submission. Some lenders soft-check credit prior to closing but that is not an industry-wide practice. Our credit provider is Advantage Credit Plus and our office has passed their inspection requirements.

Yes absolutely! We do have unrepresented buyers and even listing prospects from time to time. This gives us an opportunity to refer to agents. Our process for determining who to refer them to takes into account if they have a male/female preference, their personality, and location in town. Of course, it is ultimately up to the client who they choose to represent them.

Absolutely. We are very comfortable speaking with listing agents and is a part of our submission process. We are also mindful of what we can and cannot divulge about our client's situation. We would never mention anything that could jeopardize our client's approval or otherwise negatively impact their offer position.