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Frequently Asked Questions |
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1. Does First Group Mortgage charge any up front fees?
NO, the only things you pay for up front are for services such as appraisals and credit reports. First Group Mortgage does not charge "application fees" and other mortgage lender fees if your loan does not close.
2. Can First Group Mortgage handle a closing anywhere in Texas?
YES, First Group Mortgage can and will help you with you home loan purchase anywhere in the State of Texas.
3. Why doesn't First Group Mortgage advertise rates on its site?
First Group Mortgage does not post rates because your interest rate will vary depending on your credit history and other variables. There are many things that we take into consideration before we can give you a quote. For more information contact us soon. We will be more than happy to quote you a rate.
4. Will my settlement costs involve any points?
In most circumstances no. Origination fees and points are a form of loan officer compensation. Loan officers can also be paid by the rate they charge rather than by points. Therefore, it is the buyer’s choice to decide whether or not they want points so they can benefit with lower mortgage rates.
5. Does First Group Mortgage require a minimum down payment?
First Group Mortgage offers a zero down payment purchase loan. All you have to pay are the closing fees. Please contact your Texas Mortgage Loan specialist for more information.
6. How do I choose a Mortgage Broker?
When choosing a mortgage broker you should look for a few things. Look for a broker who has been in business long enough to know what he or she is doing. A broker who has a few years under their belt would be the wiser choice. Also, always deal with a broker you can talk with personally. Dealing with go betweens can be frustrating and end up costing you money in the long run.
7. Does First Group Mortgage lend on mobile homes?
First Group Mortgage does lend on double wide mobile or manufactured homes.
8. How long does the loan process take?
The loan process time frame is different with each and every case, but on average 3 weeks to a month is customary.
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