Are their special deals for first-time home buyers?
We offer discounted interest rates and fees for first time home buyers. For details, please speak with one of our knowledgeable and caring loan officers by calling (360) 754-3400.
What is the difference between the interest rate and annual percentage rate?
The interest rate is the cost of borrowing the principal loan amount. The annual percentage rate is a broader measure that factors in the fees charged by the lender.
When will you perform a credit check?
Generally, we will pull your credit at the beginning of the loan application process.
What is the Fair Lending Act?
The Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA) protect consumers by prohibiting unfair and discriminatory practices. FHA prohibits discrimination in residential real estate related transactions based on race or color, national origin, religion, sex, familial status, handicap. ECOA prohibits discrimination in credit transactions race or color, national origin, religion, sex, marital…
What things do I need to provide to get pre-qualified for a home loan?
We can start the pre-qualification process for you by asking a few simple questions, but the following items will help us with the pre-qualification process for your loan: –Social Security Number for all borrowers who are listed on the mortgage loan. –Date of Birth for all borrowers who are listed on the mortgage loan. –Address information for current…
What is a Portfolio Lender?
A portfolio lender is a bank that originates mortgage loans and holds them for the life of the loan instead of selling them in the secondary market. OlyFed is a portfolio lender.
Do you offer loan modifications?
Yes. Please contact one of our loan officers at (360) 754-3400 to get the process started.
Do you offer customized repayment plans?
Your loan officer will work closely with you to help you find a loan program that has a repayment plan to fit your budget.
