Frequently Asked Questions
General Questions
What types of mortgages do you offer?
We offer a variety of mortgages for investors. We review the scenario with the client and match the loan program and lender best suited for the specific scenario.
How do you help find the best mortgage for me?
We partner with 50+ Wholesale lenders nationwide, and we are always on top of who's providing the best Mortgage programs, smoothest processes, and lowest rates for our clients.
Can I get a mortgage pre-approval through your service?
Absolutely. We just need to review your scenario with you to make sure you qualify. We don't require a hard credit inquiry for that. Just reach out to us, and we can get you pre-approved very quickly
How do you make the mortgage process easy and stress-free?
The mortgage process gets very stressful when there is no communication or expectations are unmet. We are very hands-on and communicate with our clients initially on what they should expect and throughout the process where we're up to. We always try to underpromise and over-deliver. This is why we have a 100% client satisfaction rating and why our clients are consistently coming back and referring their friends and family
What are the current mortgage rates?
Mortgage rates depend on various factors like credit score, LTV, property type, discount points, etc. Please contact us to price out your specific scenario
I need to close very fast how long does the process take?
Every lender has different turn times. We can definitely accommodate 5-7 days closings if necessary.
Do you offer Mortgages for primary residence and second/vacation homes?
Mtg Maven Is only originating business purpose loans we're not licensed to originate owner occupied or second vacation homes. However, feel free to reach out to us and we'll refer you to a top Mortgage loan officer licensed in you state
Can we get approved for a Mortgage even after we were declined by another lender?
Yes. Being declined by a lender does not mean that you don't qualify for a Mortgage, it's just that you didn't qualify with that specific lender. Because we work with many different lenders you have a bigger chance of getting approved
Application Process
Is there an upfront fee to get the process going?
The only fee that the borrower will pay upfront is the appraisal fee which is paid directly to the Appraisal Managment Company
I paid already for an appraisal once will I have to do a new appraisal?
Most lenders can use an appraisal that was recently done by another lender if the other lender will transfer the entire appraisal file with a transfer letter
Will you do a hard inquiry on my credit?
We have a number of lenders that can work with a soft pull report that doesn't leave a mark on your credit. We'll definitly ask and communicate before we do a hard credit inquiry
Mortgage Questions
Can you help with refinancing my existing mortgage?
Yes. We do Mortgages on Purchases as well as Cash out or non cashout refinances
Do you offer loans without a pre-payment penalty
Yes. Even though having a pre-payment penalty may get you a lower interest rate most of the time we do have a lot of programs that don't require a pre-payment penalty
Can you finance a property that the rental income is less than the monthly expenses
Yes. We have no ratio DSCR programs that doesn't take in consideration if the property is making or losing money
Can we use gift funds for down payment and closing costs?
even though Fannie Mae does not allow gifts on Conventional investment property financing, A lot of private lenders do allow
Customer Support
Do you offer personalized mortgage advice?
Yes. We spend a lot of time with our clients advising them on their best options