Frequently Asked Questions

1. What is a true zero point mortgage?
A zero point mortgage means you as the consumer should pay no origination fee, no mortgage broker fee, no discount points and no hidden junk fees

2. What makes Zero-Point Mortgage different from other companies?
The fact that we charge no points and still provide the best rates along with exceptional customer service is what makes us unique.

3. If you don't charge any fees, how are you compensated?
We are paid by the lender, never the loan customer.

4. How can you offer such great rates?
Unlike a bank or mortgage company that can only offer their own products, we can shop the entire market for the best rates. Keep in mind these rates and loan programs are constantly changing so "shopping" is an ongoing process. Additionally, we qualify for volume discounts and wholesale prices.

5. Do you do Florida home refinancing and home equity loans?
Yes. Whether you're buying your first, second or tenth home or just refinancing you existing home, we can find the right mortgage product for you.

6. If I'm refinancing my Florida home, should I use my existing lender?
You'll certainly want to ask that lender for a rate, but we encourage you to shop around just as you would for a new mortgage. Remember that even if you have made all of your mortgage payments on time, your existing lender will still have to verify assets, liabilities, employment, etc. all over again.

7. Do you provide good-faith estimates?
In most cases we can give you an good faith estimate in under one hour. There is no charge for this service whether or not you choose to work with Zero-Point Mortgage.

8. Will you pre-qualify me?
Just complete the online pre-qualification form. Often we can pre-qualify you in a matter of hours. Once again, there is no charge for this service whether or not you choose to work with Zero-Point Mortgage.

9. Should I get pre-qualified?
Yes, it's a good idea to get pre-qualified. It will help you know how much you can borrow and what house price range you can afford.

10. Can I get pre-approved?
Yes. You'll need to provide us of written evidence of income, expenses, assets, liabilities and credit. The benefit to you is that we'll provide a pre-approval certificate for you to show the seller. This pre-approval will give you the best chance for getting your offer accepted, especially in a competitive situation. Also, having been pre- approved, you'll be able to close very quickly.

11. What is a rate lock?
A rate lock is a commitment by the lender for a determined period of time to give you a mortgage at a set rate, regardless of whether rates go up or down before you close.

12. If I find a better loan rate, will you match it?
We encourage you to shop around. We doubt you'll find a better rate than Zero-Point Mortgage, but if you do, please let us know and we'll certainly match it and, if possible, use our leverage to get one of our lenders to beat it.

13. Should the cost of the mortgage be the only deciding factor in selecting a lender?
While important, the cost of the mortgage shouldn't be your sole criterion. You'll want to have confidence that the company you select is reputable and will deliver the loan within an acceptable time-frame with the terms and costs promised.

14. How is the mortgage paperwork handled?
It can be done online, via mail or even over the phone. We'll do whatever is easiest for you.

15. Wouldn't I be better to get a mortgage from my own bank since I already have a relationship with them?
Unfortunately, banks don't give their own customers any better rates or preferential treatment. Certainly you should get a quote from your bank for comparison purposes, but it's always best to shop around.

16. How's my timing for a Florida home mortgage or a refinance?
Your timing is excellent. Rates are at one of their lowest points in 30 years. While no one can say for sure, it's unlikely that they'll be going lower.

17. How do you compare with an online mortgage service?
An online mortgage service will put your application out for bid, and you'll be contacted by various lenders. You'll have to evaluate their offers which unfortunately, are often quite complex. We provide a more personalized service, working with you one-on-one, and offer guidance throughout the process.

18. Can you provide referrals for other home-buying services?
We have professional relationships with reputable Florida realtors, home inspectors and home insurance companies and would be glad to provide those names to you upon request.

19. Will I know who owns my mortgage?
Absolutely. We keep you informed of every detail throughout the entire process.

20. Can you get me a mortgage if my credit is questionable?
While it's always easiest to get financing if you have good credit, we can certainly work with you. We'll do our best to find you quality finance options.

21. How fast is the process from application to closing?
It varies, but generally speaking, it should take approximately two weeks.

22. How can I avoid delays in the mortgage process?
Provide all documents to us in a timely manner. Those documents we request are required to get your loan approved.

Have more questions about Florida home mortgages or about refinancing? Ask our online Live Consultant or call us toll-free at 1-888-409-3902.