Frequently Asked Questions FAQ Index | General | Mortgage Tools | Rates & Costs | Loan Decision | Closing   General   Is my customer's information saved as I go through your site? What if I want to make a change to my customer's information before I submit online? What if I want to make a change to my customer's information after I have submitted online? How do you use the personal information I enter on this site? How can I be sure the information my customers and I provide on your site is secure? Do you provide loans for properties in all 50 states and Washington, D.C.? Can my customer be approved for a loan before they've found a property? Why is an appraisal necessary? Can my customer use the tax value of the home? How is the appraisal obtained? Who can tell my customer what their property taxes will be? What is a Good Faith Estimate? What is a Truth-in-Lending statement? Is the fee my customer pays to reserve funds refundable? What is a home equity line of credit?     Mortgage Tools   How much down payment will my customer need? When should my customer start shopping for a mortgage and how do they know what they can afford? Does my customer need to sell their existing home before they apply for a new mortgage loan? Why is the Annual Percentage Rate (APR) different from the interest rate? Can my customer be approved for a loan even with credit problems?     Rates and Costs   How often do interest rates change? How can my customer customize their rate? What factors go into determining my customer's personalized rate? Can I lock in a loan program and interest rate for my customer online? Once my customer has selected a program, what are their rate options? When can my customer lock their rate? What if interest rates go down after my customers lock their rate? What happens if my customer's loan does not close before the rate lock expiration date? If my customer has selected rate protection and does not exercise the one-time float down option, what will happen? What are points? Are discount points tax deductible? If my customer is short on cash, are there options to help with down payment and closing costs?     Loan Decision   How long is my customer's Letter of Approval valid? How is an online approval different from a pre-approval or a pre-qualification? Why do New York and New Jersey residents get a home loan pre-approval instead of an approval? What does a mortgage lender consider when making a loan decision? How much does it cost to get a loan decision? How long will it take to get a loan decision for my customer? Can my customer change the loan amount, down payment or program after receiving a loan decision? My customer already put earnest money down on the property. Is this included on the Good Faith Estimate? What documents will my customer need to provide to complete my loan transaction? What is a 4506 form?     Closing   Does my customer have to attend closing? What are their options? How does it benefit my customer to let you select the closing agent? Where does my customer go to close the loan? Can my customer bring a personal check to the closing? What is title insurance and why is it required? How much title insurance does my customer need? How much homeowner’s insurance is required? How does my customer know if they need flood insurance? How are property tax bills paid? What type of inspections does my customer need before closing?