Frequently Asked Questions When Applying for a Mortgage (Part 4)
Robins Financial Credit Union is dedicated to our mission to be Member Focused, Financial Partners, Community Proud. We empower our members with the financial knowledge and resources they need to make informed decisions and achieve their financial goals.
Applying for a mortgage can seem like a daunting process, especially if you're not sure where to begin. As your trusted financial partner, we’re here to simplify the journey. We know our members often have questions about the requirements, the steps involved, and how to set themselves up for success – and we’re here to help.
In this article, we will dive into the answers to some of the most frequently asked questions with Mortgage Loan Originator, Bonnie Butler. Whether you’re a first-time homebuyer or just looking to refresh your knowledge, this guide will give you the clarity and confidence you need to start your homeownership journey. Let us help you clear up the confusion and get one step closer to making your dream home a reality.
Q: What is a Hometown Hero? What products does Robins Financial offer for them?
Bonnie: At Robins Financial Credit Union, we proudly recognize the incredible contributions of our Hometown Heroes. A Hometown Hero is someone who often puts the needs of others before their own. These are the frontline workers who keep us safe, teach our children, or look after us when we are not feeling well. Some examples of those who qualify as a Hometown Hero are police officers, teachers, healthcare workers, and first responders.
We believe these extraordinary professionals deserve an opportunity to achieve their dream of homeownership. That’s why we are committed to offering specialized support and programs designed to make buying a home more affordable and attainable for our Hometown Heroes.
Learn more about our Hometown Heroes Mortgage Loan.
Q: Can I get a mortgage for a second home or investment property?
Bonnie: Absolutely! We offer financing options for both second homes and investment properties. Whether you’re dreaming of a cozy mountain retreat in North Georgia where you can relax on the weekends or looking for a way to generate income by investing in a rental property, Robins Financial Credit Union has you covered!
Our experienced mortgage team will guide you through the options available and help you find the right loan product to match your goals. With Robins Financial at your side, you can pursue your homeownership dreams with confidence.
Visit our website to explore our Mortgage Loan Options.
Q: What is a mortgage processor?
Bonnie: A mortgage processor is the major coordinator of your loan request. As an originator, I'll help you determine things such as your down payment, terms and rate of your mortgage loan. The mortgage processor then steps in to assist with getting you and your family to the closing table. You will find our processors are some of the best in the industry. They are knowledgeable, professional and friendly. Our team will stay engaged with you throughout your home buying process to make sure it’s smooth from beginning to end.
Q: What is a mortgage underwriter?
Bonnie: A mortgage underwriter is typically a team member with a lot of experience in the mortgage industry. They often have either been processors, originators, or managers and understand the big picture of a loan file. With this wealth of experience and by using Fannie Mae’s guidelines (rules and regulations that determine the eligibility and underwriting standards for conventional mortgages), they review and condition your purchase or refinance. For example, guidelines will ask that we have a full appraisal to determine marketability and value for your property or a clear title to be determined by a real estate attorney. In short, they hold the golden pen and are the ones we count on to help get you and your family into a new home.
Next Steps
Applying for a mortgage doesn’t have to be overwhelming. With the right guidance and answers to your questions, you can approach the process with clarity and confidence. At Robins Financial Credit Union, we are committed to supporting you every step of the way.
- Visit our Knowledge Center to find more informational blogs about the home buying process, various mortgage loans, and what you can expect at your mortgage loan closing.
- Visit our website for a step-by-step guide through the Homebuying Process
- Tune into our YouTube channel to watch our Buying a Home series
If you need assistance or have additional questions about applying for a mortgage loan, make an appointment to speak to one of our Mortgage Specialists today!
Read our other blog articles to help you gain the financial knowledge you need to succeed.