Have a Question? The Sherry Riano Team Has Answers!

FAQ

Should I Talk To A Lender Before Shopping For A Home?

Calling a lender first can make all the difference when it comes to home shopping. By spending a little time upfront with us, you can get an idea for what price range you'll be looking in, as well as potential breakdowns of what your monthly payments could look like. It will also help you determine how much house you can really afford. Because once you start looking, it's easy to get swept away by the style of the moment -- and what seems doable at first glance can turn out to be much more than you can afford!

How Do I Get Pre-approved?

Have you recently began the process of looking for a new home? Did you know getting pre-approved for a home loan is easy with The Sherry Riano Team? We can do pre-approvals in as little as 15 minutes! We listen to our clients and discover what's unique about them. Because we believe that each client is different and each situation is unique. Our goal is to educate you on all aspects of financing, so you feel comfortable and secure throughout the entire process. All you have to do is click the Apply Now button on our website to start the process!

Why Use A Local Lender Versus A Big Box Bank?

Have you ever wondered if there was a difference between getting a mortgage loan from a local lender as opposed to a large chain bank or credit union? If so, you're not alone. We've had numerous clients ask this exact question when it came to their home financing options. LuckilytThere are many substantial differences between working with a mortgage broker like us, versus going with a brick and mortar bank. Things like giving you the ability to price shop over 50+ lenders and investors, all while only having to run one hard credit pull. After years of comparing these two options side by side while watching friends and family go through the process, we know what works best for most people (hint: it's not the brick and mortars!).

How Long Does It Take To Get Pre-approved?

Timing is everything when buying a home and ensuring your financing is in order is critical to ensuring a smooth experience. How long does it take to get pre-approved with our team? The answer is simple. Lightning fast! Sometimes, it can even be in as little as 15 minutes in some cases!

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How Can I Get My Loan Funded Faster?

The key ingredient to an expedited home loan is all in the details. Make sure you get back requested paperwork and files to us as quickly as possible and have everything stored in one place that is easily accessible. The second most important ingredient is to ensure all the information on your application is accurate!

What Is Private Mortgage Insurance (PMI)?

Private Mortgage Insurance, also known as PMI, is a supplemental insurance policy you may be required to obtain in order to get a mortgage loan. PMI is provided by private (non-government) companies and is usually required when your loan-to-value ratio – the amount of your mortgage loan divided by the value of your home – is greater than 80 percent.

PMI isn’t a bad thing – it allows you to make a lower down payment and still qualify for a mortgage loan. In fact without PMI, many of us would not be able to purchase our first home.

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What Size Monthly Payment Can I Afford?

When determining what size monthly payment you can afford, you’ll want to consider what other monthly expenses you have. Tangible expenses such as car payments, day care and utility bills, all play a role in how large a monthly payment you can afford.

There are also the intangible expenses or lifestyle expenses that you’ll want to consider. Things such as dining out, travel and when you buy your next car can affect how much you can afford. Are you willing to curtail or delay some of these expenses in order to afford a larger monthly payment? Start the pre-approval process today so we can find the right financing options for you and your needs.

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How Much Can I Borrow?

This is a question you’ll want to get answered before you begin your home search. This is something that we’re here to help you with! Our helpful resource section is packed full of articles and mortgage calculators to give you a better idea of what to expect. Have questions? Don't hesitate to reach out!

Get in touch with us today!

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While we are headquartered out of the Raleigh, North Carolina area, our team of Mortgage Matchmakers are licensed to lend across most of the United States. We believe securing a mortgage should be the easiest part of buying a home and each member of our team is dedicated to ensuring every client we serve are informed and understand all of their options, making their entire experience as smooth as possible!

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The Sherry Riano Team Powered by UFCU Mortgage Services^TM

215 E. Chatham St.
Suite 301
Cary, NC 27511

Phone Number: 919.234.7415

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Sherry Riano | NMLS ID #71774
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