Mortgage questions, answered clearly

Start here for general guidance, then talk with Team Windes about your goals and circumstances.

When should I speak with a mortgage professional?

Before you begin seriously shopping for a home, a conversation can help you understand your potential budget, available programs and documentation needs. You can also contact us while planning a future purchase or evaluating a refinance.

Does a pre-approval guarantee my loan?

No. A pre-approval is subject to its stated conditions. Final approval depends on the lender's review of your finances, credit, property and other program requirements. Changes in your circumstances can affect eligibility.

When does refinancing make sense?

There is no single interest-rate drop that makes refinancing right for everyone. Compare closing costs, payment changes, the new loan term, total borrowing costs and how long you expect to keep the loan. A lower payment from a longer term can mean paying more interest overall.

For a refinance intended to save money, a simple starting point is to divide the relevant closing costs by the monthly savings. That estimates how long it takes to recover those costs; it does not capture every difference between the loans. We can help you compare the full picture.

What are discount points, and should I pay them?

Discount points are upfront charges paid for a lower interest rate. One point equals 1% of the loan amount, but the rate reduction varies. Paying points is not automatically the best choice. Compare the extra upfront cost, monthly savings, available cash and how long you expect to keep the loan. Ask to see options with and without points.

What is the difference between an interest rate and APR?

The interest rate is the rate charged on the loan balance. The annual percentage rate (APR) reflects the interest rate plus certain borrowing costs, expressed as a yearly rate. APR is useful when comparing similar loans, but also review the payment, loan term, fees and cash needed at closing.

How should I compare mortgage offers?

For most consumer home purchase and refinance mortgages, compare Loan Estimates for the same loan amount, loan type, term and rate-lock status. Review the interest rate, points or lender credits, lender fees, monthly payment and cash to close. Ask about differences in taxes, insurance and other estimates instead of assuming that a lower estimate means a cheaper loan. Some products, including HELOCs, use different disclosures.

What does it mean to lock my rate?

A rate lock sets the quoted rate for a specified period, subject to its terms. Ask for written confirmation of the rate, expiration date, any fees and what happens if closing is delayed. A Loan Estimate alone does not necessarily mean your rate is locked. Changes to the application or an expired lock can affect pricing.

What documents will I need?

Requirements depend on your income, property and loan program. Your loan officer may request identification, income and employment records, asset statements, debt information and, for a purchase, the signed purchase contract. Self-employed borrowers may need additional business records or alternative documentation permitted by the program. We will provide a checklist for your scenario.

Can I qualify if I am self-employed?

Possibly. We help business owners and other self-employed borrowers explore traditional qualification as well as bank statement and profit-and-loss programs. These programs have their own credit, down payment, documentation and property requirements. Alternative documentation does not mean automatic approval.

What programs and properties do you work with?

Team Windes serves California borrowers with conventional, FHA, VA, jumbo, construction, HELOC, physician, DSCR, bank statement and profit-and-loss options. We work with single-family homes and properties with up to four units, subject to each program's rules. Ask us which programs support your intended occupancy and property type.

Where should I send sensitive documents?

Use the secure application portal and the upload instructions provided by your loan team. Do not place Social Security numbers, bank account numbers or sensitive documents in the general website contact form.

How do I get started?

Contact Team Windes, call (800) 675-0819, or start your secure application.

Additional consumer resources: CFPB guide to comparing Loan Estimates and CFPB guide to discount points and lender credits.

This information is general education, not a commitment to lend. All loans are subject to credit, property and underwriting approval. Program availability and terms may change.