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FAQ’s

What is an ARM?

An ARM is an adjustable rate mortgage. The rate is determined by using a standard index such as the prime rate and adding a fixed amount (often called the margin) to this to determine the rate (e.g. prime + 2.00%). The rate fluctuates based upon changes in the index. The frequency of rate changes varies from program to program.

What is a no income verification program?

This loan program type permitted income to be stated on application for qualifying, but was not verified. This type of mortgage program is prohibited in the Commonwealth of Pennsylvania.

I am currently in a rent-to-own agreement. Do I still need to provide a down payment and pay closing costs out of pocket in order to payoff the agreement and buy the home?

NO, there are many programs available that allow you to treat this type of transaction as a refinance thereby allowing you to use the equity in the property (based upon a current appraisal) as the down payment AND the closing costs can be rolled into the mortgage.

What is the difference between a mortgage lender and a mortgage broker?

Broker

  • broker assists the client in shopping for the best mortgage program available to meet their specific needs.
  • broker does not lend money, but facilitates the mortgage process from application to funding for the client.

Lender

  • lender has proprietary loan programs approved by its board of directors and has the ability to lend money to those clients who meet their credit criteria.
  • lender may only be able to offer one program to a particular client when a mortgage broker may be able to offer ten programs for the client to choose from.

Can I still obtain mortgage with a past bankruptcy or foreclosure?

Yes, there are many programs available for clients with these credit issues.

Can I purchase a property with no money down?

Yes, there are programs available that require no down payment. Many of these programs also allow for seller assistance towards closing costs in addition to not requiring a down payment.

   

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July 30 , 2015

Jeremy always gets the job done well and on time without worry and stress. - Sally Chaplin

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Zillow reviews

5 stars on 8/14/2018

If we had to pick one word to summarize our experience with Jeremy & A Plus Mortgage Solutions it would be Impressive. Jeremy is very knowledgeable, professional, responsive, and highly respected in the service his company provides. Jeremy was referred to us and assisted us throughout the purchase of our first home. He presented all information clear and straight forward so that it was easy to understand in the decision making process. We feel very lucky to have worked with Jeremy and greatly appreciate his help in making the process of buying our first home such a smooth experience.


5 stars on 8/3/2018

Jeremy came recommended to us from our Agent and we couldn't be happier with the recommendation. The application process with simple, communications were timely, and Jeremy was very approachable and easy to work with. I would highly recommend to anyone, especially first-time buyers or those who need a little extra help navigating the mortgage lending process.


5 stars on 7/30/2018

Recently we purchased our 3rd home. Jeremy J. McMichael worked with us on our loan. He was extremely helpful in us getting a loan to purchase this home. He was very curteous, kind, professional and answered all our questions in a very timely manner. We would highly recommend him to anyone requiring a mortgage for home purchase. Thanks​ Jeremy for all you did for us!


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