Miracle Mortgage Group, Inc. FAQ
Q: What is my rate going to be?
A: Your rate is determined by 3 factors. First your credit risk or score. Second is how much you are going to borrower against the value of your home or your loan to value (LTV). And thirdly, how much you spend versus how much you make or your debts to income ratio (DTI). | Q:How long does the refinance process take?
A: The refinance process is actually a very simple and efficient process. When you, the client, work dilligently to gather all information necessary, as quickly as possible, the process should not take more than 14 days from origination to funding. | Q: What type of mortgage is good for me?
A: As a mortgage consumer you must be wise of what kind of mortgage is good for you and your family. Not every person can qualify for certain mortgages. There are thousands of products to choose from, MMG, Inc. can help you make that decision and also give you the best advice on which product would be great for you and your family. | Q: What are my closing costs?
A: Please be aware as a consumer that any company telling you that you will not have closing costs is not telling the truth. There will always be closing costs to a loan. Remember when you are negotiating your costs you must still consider the fact of the title and government costs, which are the major costs to any loan. Costs such as origination can be tax deducted. Also ask your accountant which other costs are tax deductible. | Q: Should I consider taxes and insurance?
A: You always should consider taxes and insurance or more commonly known as escrows. The majority of lending institutions qualify you, the consumer, with escrows included in the payment. By no means do you have to escrow, but lenders qualify you off of your PITI--> Principal, Interest, Taxes, Insurance. |
A: You can get started by calling us @ 877-262-6708 or email @ ktannous@miraclemortgagegroupinc.com. We look forward to serving your needs. |
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