FAQs | Rapid Response Mortgages

FAQs

What is PMI? Can I get rid of the PMI on my loan?

Should I choose a lender just because they have the lowest rate?

What is The Annual Percentage Rate (APR)?

Can my loan be sold? What happens if my lender goes out of business?

What is the difference between pre-qualifying and pre-approval?

Why do mortgage rates change?

Whose money is it in a zero-point/zero-fee loan?

What are the disadvantages of a zero-point/zero-fee loan?

What are the benefits of a zero-point/zero-fee loan?

Whatever happened to the conventional wisdom of waiting for the rates to drop 2% before refinancing?

Should I pay points? Does a zero-point/zero-fee loan really exist?

What should I consider before getting a home-equity loan/line?

What should I consider when refinancing my home?

Should I make a verbal agreement to buy a home?

Should I get a Good Faith Estimate?

Should I refinance?

This deal was much harder than anticipated and you stuck with us to make it work. We wouldnâ€™t have gotten our house without you.

Robert, Home Buyer
Westport, CT

Question:
Can my loan be sold? What happens if my lender goes out of business?

Answer:
Your loan can be sold at any time. There is a secondary mortgage market in which lenders frequently... read more