General

1. Why should I choose iQuest Mortgage for my purchase loan or refinance?
   
   
2. What types of loans does iQuest Mortgage offer?
   
   
3. How do I contact iQuest Mortgage?
   
   
4. I have to close my loan quickly. How fast can you complete the loan process?

Mortgage Refinance Loans

1. Can I get cash out of my home by refinancing?
   
   
2. When am I better off refinancing my home loan?
   
   
3. How do I refinance my existing home loan?
   
   
4. How do I calculate the value of my property?
   
   
5. Is there a loan option with fewer upfront fees?
   
   
6. What is a cash-out option?

Home Purchase Loans

1. How much can I borrow?
   
   
2. Am I better off renting or buying?
   
   
3. What types of loans are available?
   
   
4. Is the interest on my home loan deductible?
   
   
5. Can I make extra principal payments so I can pay off the loan more quickly?

Bad Credit Refinance

1. I have a bankruptcy in my past. Can you still help me with a home purchase loan or a refinance?

Debt Consolidation Loans

1. Should I refinance my home loan in order to consolidate my revolving debt?

Reverse Mortgage

1. Does the Reverse Mortgage Lender take title to my home?
2. What are the differences between the FHA Reverse Mortgage and a traditional home equity loan?
3. What can I use the proceeds from the Reverse Mortgage for?
4. How long does it normally take to complete the Reverse Mortgage process?
5. As my home appreciates during the Reverse Mortgage term, who is entitled to that money?
6. What if I decide to sell my home?

General

1. Why should I choose iQuest Mortgage for my purchase loan or refinance?
   
   We’ve helped over thousands of people just like you find the right mortgage. We can help you! - Easy: A friendly Loan Consultant can help you complete the loan application over the phone or online. - Fast: Your loan can be ready to close in as little as 10 days. - Competitive: We are a discount lender so you’ll get a great rate!
   
   
2. What types of loans does iQuest Mortgage offer?
   
   
iQuest Mortgage offers a wide variety of loans to suit your needs. Whether you need a fixed rate loan, an adjustable rate loan or one of our Payment Option loans, we have a loan that will help you reach your financial goals. Call us today at 949-888-4485 to get more information.


3. How do I contact iQuest Mortgage? There are three easy ways to contact iQuest Mortgage.
   
   
1. Complete an online application at www.iQuest Mortgage.com,
2. Call us at 949-888-4485, or
3. Email us at info@iquestmortgage.com
   
   
4. I have to close my loan quickly. How fast can you complete the loan process?
   
   
iQuest Mortgage is an expert at closing loans quickly. As a direct lender with superior loan technology, we can close your loan in as little as 10 days.

Mortgage Refinance Loans

1. Can I get cash out of my home by refinancing ?
   
   
Absolutely. We have a variety of loan programs that let you tap into your equity. Even if you don’t have equity in your home, it is possible to pull cash out. Call us today and we can walk you through the options.


2. When am I better off refinancing my home loan?
   
   
There are a variety of reasons to refinance your home. Whether you want to lower your rate, pull cash out or combine your current first and second mortgage, iQuest Mortgage can structure the right loan for you.


3. How do I refinance my existing home loan?
   
   
It is easy to refinance your home with iQuest Mortgage, call us at 949-888-4485 or complete our loan application online. The information you provide will allow us to begin the loan process. Every step of the way, we’ll explain what is needed and how to get it. In as little as 10 days, you could be saving money on your mortgage.


4. How do I calculate the value of my property?
   
   
1. Since a mortgage is a loan secured by a piece of real property, a crucial factor is in the correct value of the property. Property value can be determined in a number of ways:
2. The market value of the property - that is, what a buyer will pay for it and what other comparable properties (comps) in the neighborhood have recently sold for.
3. The appraised value of the property - that is, what a trained and licensed professional deems the property to be worth based on an inspection, comps, and a thorough analysis of the property and its neighborhood.
4. Additionally, the appraiser estimates the replacement value of the property - that is, the cost to build a house of similar size and construction on a vacant lot. The appraiser reduces this cost by an age factor to take into account deterioration and depreciation.
   
   
5. Is there a loan option with fewer upfront fees?
   
   
Our rolldown option allows you to refinance with few upfront fees. While the rate is slightly higher, you will pay few upfront fees to get your new loan. In effect, as long as our rolldown rate is lower than your existing rate, it makes financial sense to refinance because there is little or no cost to do so.


6. What is a cash-out option?
   
   
If the equity in your property qualifies, you can refinance with a loan amount greater than your current mortgage - and keep the difference! Use it for home improvement, debt consolidation, or whatever you want.

Home Purchase Loans

1. How much can I borrow?
   
   
With the advent of new aggressive loan programs, you can borrow more today than ever before. Your dedicated Loan Consultant at iQuest Mortgage will help you determine the right loan amount for you.


2. Am I better off renting or buying?
   
   
While it truly depends on your unique circumstances, buying a home gives you the peace of mind that comes with owning your own home and will likely lower your taxes with a home loan interest deduction. Consult an accountant on all tax issues.


3. What types of loans are available?
   
   
iQuest Mortgage offers a wide variety of loans to suit your needs. Whether you need a fixed rate loan, an adjustable rate loan or one of our Payment Option loans, we have a loan that will help you reach your financial goals. Call us today at 8949-888-4485 to get more information.


4. Is the interest on my home loan deductible?
   
   
The interest you pay on your primary home loan is generally tax deductible. Consult your tax professional for more information.


5. Can I make extra principal payments so I can pay off the loan more quickly?
   
   Depending on the loan, and what your state permits, it is feasible for you to make extra payments on the loan. Extra payments will have an effect on the amortization schedule over the remaining term of your loan.

Bad Credit Refinance

1. I have a bankruptcy in my past. Can you still help me with a home purchase loan or a refinance?
   
   We have a variety of loan programs for customers who have had a previous bankruptcy. In some cases, that bankruptcy may not even affect your interest rate.

Debt Consolidation Loans

1. Should I refinance my home loan in order to consolidate my revolving debt?
   
   By combining your debts into one refinance loan, you can lower your overall payment significantly. Furthermore, the interest on the new loan may be tax deductible (consult your tax professional).

Reverse Mortgage

1. Does the Reverse Mortgage Lender take title to my home?
   
   No. You retain title to your home, just as you would with any traditional mortgage product.


2. What are the differences between the FHA Reverse Mortgage and a traditional home equity loan?
   
   Either program allows you to convert the equity in your home into cash. With a traditional home equity loan, you are required to make monthly payments that begin immediately. These payments continue until the entire loan amount, including all interest, has been repaid. To qualify for this type of loan, you must meet all of the lender's credit rating and income standards. Should you ever fail to make the necessary monthly payments, the lender could foreclose on you, forcing you to sell your home.
   
   With a Reverse Mortgage there are NEVER any monthly payments, as long as the home remains your primary residence. In addition, your credit and income are not factors in the approval process.


3. What can I use the proceeds from the Reverse Mortgage for?
   
   Any purpose that you see fit. Pay off your high interest credit card balances to lower your monthly living expenses. You can also structure your Reverse Mortgage to receive a guaranteed monthly payment for as long as you live! Take your dream vacation, perhaps. Quite simply, there are NO restrictions on you!


4. How long does it normally take to complete the Reverse Mortgage process?
   
   The interest rate can change from the time that you complete your application until your reverse mortgage is ready to close. That is why it is important that you choose the right company. Some companies take more than 80 days to process a reverse mortgage. If rates go up this will dramatically reduce your proceeds. iQuest Mortgage specializes in reverse mortgages and can usually have your loan ready to close in 3 to 4 weeks. This could mean a difference of thousands of dollars to you


5. As my home appreciates during the Reverse Mortgage term, who is entitled to that money?
   
   Under the FHA Home Equity Conversion Mortgage Program, you are only required to pay back to the lender the outstanding balance of the loan. All remaining equity in your home following repayment will go to you or, upon your passing, to your heirs or estate.


6. What if I decide to sell my home?
   
   If you sell your home, the outstanding mortgage balance is due and payable. You will keep all proceeds exceeding your mortgage balance. There are no prepayment penalties on a Reverse Mortgage.