At Vinings Mortgage, we are here to assist you. It doesn’t matter if you are a first time homebuyer, buying a home as a second home or vacation home, or downsizing. We have a wide variety of programs to choose from.
Give Us a Call Today for a
FREE Consultation:
(770) 803-6400 | (888) 373-8322
At Vinings Mortgage, we take pride in delivering total value to our customers. This means competitive price, HASSLE-FREE service, extensive product knowledge, and a friendly helpful attitude.
Give Us a Call Today for a
FREE Consultation:
(770) 803-6400 | (888) 373-8322
At Vinings Mortgage, we take pride in being there when our borrowers need us, day and night. Our mission is to deliver total value to our customers. This means competitive price, HASSLE-FREE service, extensive product knowledge, and a friendly helpful attitude.
Give Us a Call Today for a
FREE Consultation:
(770) 803-6400 | (888) 373-8322
You may be closer to your dream home than you realize. Come in and find out how close you really are to your dream home. Let Vinings Mortgage pre-qualify you so there are no surprises and you can have peace of mind knowing you are one step closer to that dream home.
Give Us a Call Today for a
FREE Consultation:
(770) 803-6400 | (888) 373-8322
The Vinings Mortgage Team will go the extra mile to ensure that your mortgage closes on time and with no surprises.
Our partnership with Bank of England allows our customers to gain access to a wide variety of offerings and take advantage of our unparalleled customer service.
Give Us a Call Today for a
FREE Consultation:
(770) 803-6400 | (888) 373-8322
Home Mortgage Loan FAQ’s
Vinings Mortgage is committed to helping you understand and compare home mortgage loan options. So we’ve compiled a list of some common questions about mortgages that we frequently hear from our customers.
What is the typical home loan process?
What’s the difference between pre-qualification and pre-approval?
Once I sign my application am I committed to borrowing money?
Internet Statements- Can I use them?
Who orders the appraisal and survey, and when is it ordered?
What does “locking my rate” mean?
Do you “sell” your loans?
What are origination and discount points?
What is APR? (Annual Percentage Rate)
What is the typical home loan process?
A typical home mortgage loan process consists of 10 easy steps:
1. Complete the pre-qualification worksheet
2. Pre-purchase consultation with an Vinings home mortgage loan specialist
3. Gather and prepare necessary documents
4. Receive credit approval
5. Obtain a property inspection
6. Loan officer orders home mortgage loan documents
7. Buyer obtains homeowners insurance
8. Vinings loan experts update you on document status
9. Seven-day pre-closing confirmation
10. Easy, smooth, on-time closing!
What’s the difference between pre-qualification and pre-approval?
A mortgage pre-qualification is basically the lenders opinion of your ability to buy or refinance a home. Requires only basic information and no documentation or credit score. A mortgage pre-approval is the underwriter’s decision that you are qualified. Credit check and documentation are required.
Once I sign my application am I committed to borrowing money?
No. Your pre-closing signatures are non-committal but only allow your mortgage banker to negotiate and approve you for a loan.
Internet Statements- Can I use them?
Internet statements are not allowed because they’re not yet seen as completely unalterable by Fannie Mae or Freddie Mac. ALL PAGES of a required hard copy statement must be submitted (1 of 5 – all 5) even if the first page is an advertisement.
Who orders the appraisal and survey, and when is it ordered?
Your lender will order the appraisal and survey for you. (Unless your home is new construction and then your builder will order your survey) Most contracts have option periods that allow you to dictate when the appraisal and survey are ordered.
What does “locking my rate” mean?
Locking your interest rate refers to guaranteeing a specific interest rate for a specific period of time. Shorter lock periods usually have lower interest rates. For more information, contact Vinings Mortgage’s qualified home mortgage loan experts.
Do you “sell” your loans?
Vinings Mortgage serves as both a broker and a banker- meaning we can either service or sell your loan, depending on what best fits your financial situation.
A mortgage banker will originate, process, underwrite, close and fund the loan in-house. Vinings Mortgage is an affiliate of the Bank of England, England, Arkansas.
A mortgage broker will sell your loan to an investor who has guaranteed your loan program, and therefore your loan will be serviced and funded by that investor.
What are origination and discount points?
Origination and Discount points are both a percentage of your loan. Usually 1% of the total amount of the loan. (often tax deductible)• • Clients with low or no down payment can still obtain a loan, but will usually pay a slightly higher interest rate.
What is APR? (Annual Percentage Rate)
Usually higher than your quoted interest rate because it includes, in addition to interest, some of the additional costs of obtaining your financing.
Still have questions about mortgages? No problem! Contact Vinings Mortgage today to compare mortgages, rates and options.
