FAQs

If your question is not listed below, just contact us by email or phone.

Q. Does Money Source Loans work with both conforming (perfect credit) and non-conforming (slow credit) customers?

A. Yes. Money Source Loans does ALL types of mortgage loans regarding new purchases and refinancing. Self-employed individuals, divorce deed payoffs, bankruptcy, collection or civil actions, etc. For a free consultation, contact a Money Source Loans loan officer today.

Q. How long will it take to close my loan?

A. Money Source Loans has a commitment to close a residential mortgage loan in 20 days or less. In the past, the company has closed a new purchase loan in as little as three (3) days.

Q. What if I filed Bankruptcy in the past or am currently in Chapter 13?

A. Your loan will be approved on mainly two factors: loan to value (LTV) and your credit history. Money Source Loans has paid homeowners out of Chapter 13 Bankruptcy. Our experienced loan officers can assist those homeowners with a free consultation to see if we can help you.

Q. What is the 2/28 ARM and will it really help me clean up my credit?

A. The 2/28 ARM means your payment is FIXED for 2 years, usually with a 2 year pre-payment penalty and begins to adjust at the end of the 2nd year of the mortgage. Credit rebuilding is the responsibility of the borrower listed on the application. Your loan officer can only recommend preferred courses of action so you can personally work on your credit during the two year period. For a free consultation, contact a Money Source Loans loan officer today.

Q. What sets your company apart from all the rest I may be considering?

A. Money Source Loans loan officers rely on your referrals for repeat business. Our loan officers can assist you in understanding; how to payoff a mortgage early by saving years of interest expense, what program would best suit YOUR needs. Call a Money Source Loans loan officer for a free consultation today.