Contact Us.
Call us today at (678) 916-7025 or send us a message using the form below and we will be happy to assist. We look forward to helping you with any questions or feedback you have.
Office Location
1792 Woodstock Rd, Roswell, GA 30075
Call us
(678) 916-7025
hello@alignmortgage.co
F.A.Q.
Frequently Asked Questions
Do you offer custom loan programs?
Yes, the different types of loan programs being offered are changing every day. We find the best loan scenario for all our clients. Unlike big banks that are restricted to using loan programs and rates being offered at that time by the bank, we have access to many lenders. What we do is find the lender that best fits your needs. Call us today and let us show you what we can do for you.
What’s the difference between a fixed and an adjustable rate mortgage?
With a fixed rate mortgage, the interest rate and the amount you pay each month remain the same over the entire mortgage term, traditionally 15, 20 or 30 years. Several variations are available, including five- and seven-year fixed rate loans with balloon payments at the end. With an adjustable rate mortgage (ARM), the interest rate fluctuates per the indexes. Initial interest rates of ARMs are typically offered at a discounted (“teaser”) interest rate lower than fixed rate mortgage. Over time, when initial discounts are filtered out, ARM rates will fluctuate as general interest rates go up and down. Different ARMs are tied to different financial indexes, some of which fluctuate up or down more quickly than others. To avoid constant and drastic changes, ARMs typically regulate (cap) how much and how often the interest rate and/or payments can change in a year and over the life of the loan. Several variations are available for adjustable rate mortgages, including hybrids that change from a fixed to an adjustable rate after a period of years.
What’s the difference between Pre-qualified and pre-approved?
Pre-qualification is little more than a conversation with your loan originator about your finances and intentions to purchase a home. However, when you get pre-approved, we’ll check your credit, review your finances, and factor in your employment history to estimate how much home you can afford. Pre-approval takes a little more time and effort, but it also carries a lot more weight.
Can I use some of my IRA or 401k plan for a down payment?
Yes, you can. However, the rules regarding this issue are constantly changing. Your best bet would be to contact your accountant. Your accountant can inform you of your best options in regards to this.
I can’t afford to 20% to put down on a house
It shouldn’t be a problem. There are many programs available today that require less than 5% down payment. The best thing to do would be to call us and we can find the right program for you.
What is PMI (private mortgage insurance)?
Private mortgage insurance (PMI) policies are designed to reimburse a mortgage lender up to a certain amount if you default on your loan. Most lenders require PMI on loans where the borrower makes a down payment of less than 20%. Premiums are usually paid monthly or can be financed. Except for some government and older loans, you may be able to drop the mortgage insurance once your equity in the house reaches 22% and you’ve made timely mortgage payments. The Servicing Lender will have the requirements for canceling the mortgage insurance.
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©2023 Align Financial, LLC NMLS #2320438 (www.nmlsconsumeraccess.org) 1792 Woodstock Rd Building 100 Roswell, GA 30075 (678) 916-7025. All rights reserved. Align Financial is an Equal Housing Opportunity Lender. This is not an offer to enter into an agreement. Information, rates, and programs are subject to change without prior notice and may not be available in all states. All products are subject to credit and property approval. Align Financial is not affiliated with any government agency.