Question 1

How do I know what mortgage is right for me?

Accepted Answer

There are a number of mortgage options available and it can be hard to tell which is the right option to choose. The best way to know what mortgage is right for you is by talking to a mortgage professional, to discuss your specific situation. When you're ready to take the next step, rely on the Colonial Mortgage Corp. for more information.

Question 2

How do I get pre-qualified for a mortgage?

Accepted Answer

Any mortgage company will tell you that there are two factors that determine your mortgage qualifications: your income and your credit. However, finding out this information by yourself can be a hassle. Contact mortgage companies in Florida to go over your personal information when you're ready to discuss your mortgage options.

Question 3

What's the difference between being preapproved and prequalified?

Accepted Answer

These two terms might seem similar but they mean different things when you're actually ready to buy a home. The difference between prequalification and preapproval boils down to your income documentation. You'll also need to bring along your credit report information to verify your income and debts to get fully approved. Being prequalified simply means that you can get a mortgage or a loan; being preapproved means that a mortgage is within your grasp.

Question 4

How do I know if a reverse mortgage is right for me?

Accepted Answer

To find out if a reverse mortgage is right for you, visit a reverse mortgage company today. By speaking to a licensed mortgage professional, you can learn about all of the benefits that a reverse mortgage might have for your situation. Most people who are able to achieve a reverse mortgage are over 62 years in age. Talk to Colonial Mortgage Corp. about reverse mortgages today.

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Question 20

How do I know if now is a good time to refinance my home?

Accepted Answer

It is a good time to refinance if the reduction in interest rate and your new mortgage payments offset the costs of the refinance. Those who are likely to benefit the most from mortgage refinancing are those with great credit and home equity. Talk about your refinancing options with one of our experienced mortgage refinance specialists when you're ready to take the next step.

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