To apply via telephone:
1-888-831-1888
Monday - Friday, 9-4 PM (PST)
MortgageNet.Work
provides
answers to the most frequently asked loan questions.
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Questions are signals indicative
of a smart buyer. At MortgageNet.Work
we strive & work hard to give you the answers to take the stress
out of finding a lender. Browse this page for some common loan questions
and if you don't find your inquiry here, just
contact us for feedback.
Q: Must
I have perfect credit to qualify for a loan with MortgageNet.Work?
- A: You need
not have "perfect" credit to qualify for a loan with MortgageNet.Work.
However, your
credit worthiness will often help you secure a lower interest
rate. We look at each applicant individually and take the median
credit score of three to determine prequalification.
Q:
How will I know if I qualify for a loan?
- A: When you
fill up a
prequalification form online during business hours, notification
will be sent in as little as 3 hours via email provided that you
indicated your desire to be notified via email on your application.
A MortgageNet.Work
representative will attempt to contact you within the first 24 hours
of your submission via telephone and will also send you written
notification via conventional mail to inform you of your prequalification
status.
Q:
What are your
business hours?
- A: We are operational
Monday thru Friday from 9AM-4PM, Pacific Standard Time.
Q:
How soon can I receive notice via email of my prequalification application
status if I submitted the application after business hours?
- A: If you indicated
your desire to receive notification via email in your application,
then you can expect to be notified via email before 12PM the following
business day.
Q: I
found a lender who will give me a lower interest rate than what MortgageNet.Work
offered. Can you beat it?
- A: In most
cases, MortgageNet.Work
can match and/or beat our competitors. This does not automatically
mean we will provide a counter-offer. You must exactly disclose
the specifics of the other loan for us to make a fair new offer.
Every loan and loan applicant is unique; if criteria, terms &
conditions are withheld or not disclosed (i.e. smaller loan amount,
shorter repayment terms, willingness to pay points, fixed rates
that are adjustable after 5 years, etc.), then a different outcome
should be expected. Please read
The Truth Behind those Low Interest Rates for more info.
Q:
Do I have to own a home to get qualified for a loan?
- A: If you are
seeking a loan for
home purchase, then owning a home is not a requirement. When
applying for other loans such as a
home improvement or
debt consolidation loan, homeownership is a predetermining factor
for securing such loans. Your home must also be located in California,
USA.
Q: When can I
expect to receive my funds?
- A: When you've
sent in the necessary documentation and all information has been
verified, you can expect to receive funding in as little as 7 days
in the form of a check.
Q: If
I submit an online
prequalification form, am I obligated to securing a loan agreement
with MortgageNet.Work?
- A: You are
under no obligation whatsoever. The online
prequalification form is designed to help the lender offer the
consumer the best possible loan product available based on that
individual's specific information. It does not in anyway obligate
the lender nor the consumer into entering a loan agreement in anyway.
Q:
Can I pay points to secure a lower interest
rate? How much can it really lower my interest rate?
- A: Yes, you
can pay points to lower the interest rate offered to you after being
pre-approved. With every point you pay, your interest rate is lowered
by 0.5%. Be aware that the more points you pay, the higher your
APR will be because points will increase the closing costs of the
loan.
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