FAQs
Your Mortgage Questions, Answered.
We’re here to make the home financing process as clear and simple as possible. Below, we’ve answered some of the most common questions to help you feel more confident about your mortgage journey.
Are you a direct mortgage lender?
Yes. We control the entire mortgage process, enabling us to offer low home loan rates and close loans up to 50% faster than the industry average.
How do I find the right loan?
We have a strict “No Steering” policy, ensuring that you get the best loan for your current and future needs. We offer various home loan options, including FHA, VA, Jumbo, ARM, and fixed-rate mortgage programs.
Are your loan officers licensed?
Yes. Our licensed loan officers are state-licensed in accordance with the federal government’s S.A.F.E. Act, making them trusted professionals in the industry.
What documents will I need to apply for a mortgage?Typically, you will need recent pay stubs, W-2s or tax returns for the past two years, bank statements, identification, and information about your current debts. Your HomeBound Lending loan officer will guide you through the specific documents needed for your situation.
How long does the mortgage process take?
Most of our loans close in 30 days or less. Since we are a direct lender, we control the entire process, making it easier to move quickly from application to approval.
Can I get pre-approved before shopping for a home?
Absolutely. Getting pre-approved gives you a clear understanding of how much you can afford and shows sellers that you are a serious buyer. Pre-approval with HomeBound Lending is quick, free, and won’t affect your credit score.
Do you offer down payment assistance?
Yes. We provide access to several down payment assistance programs for qualifying buyers, including first-time buyers. Contact us to find out which programs you may qualify for based on your location and financial profile.
What’s the difference between pre-qualification and pre-approval?
Pre-qualification is an estimate based on basic information you provide, while pre-approval requires document verification and a credit check. Pre-approval carries more weight with sellers and is a stronger option if you’re ready to buy.
Can I refinance my existing loan with HomeBound Lending?
Yes. Whether you want to lower your interest rate, change your loan terms, or tap into your home’s equity, we offer a variety of refinancing options. Our team will help you choose the best solution for your needs.
Do you service the loan after closing?
It depends on the loan program. Some loans are serviced by HomeBound Lending, while others may be transferred to a servicing partner. We’ll explain the servicing details up front, and you’ll always know who to contact.
Have questions? Contact us and speak with a licensed mortgage advisor—we’re here to help every step of the way.
