We understand that the loan process can be complex and you may have many questions. Our FAQ section provides answers to some of the most common inquiries we receive. If you don’t find the answer you’re looking for, please don’t hesitate to contact us.
We are committed to providing exceptional service and support throughout your entire loan journey. From the initial consultation to the final approval, our team is here to guide you every step of the way.
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Choice Home Loans offers a variety of loan options including home loans, personal loans, auto loans, business loans, and debt consolidation loans.
You can apply for a loan by completing our easy online application form. Alternatively, you can contact one of our loan advisors for assistance.
Generally, you will need to provide proof of income, employment details, credit history, and identification. Specific requirements may vary depending on the type of loan you are applying for.
A fixed-rate mortgage has an interest rate that remains the same throughout the loan term, providing stable and predictable monthly payments. An adjustable-rate mortgage (ARM) has an interest rate that may change periodically, resulting in potentially lower initial payments but variable rates over time.
The down payment requirement varies based on the type of loan and your financial situation. Conventional loans typically require 5-20%, while FHA loans may require as little as 3.5%.
Yes, there are loan options available for individuals with less-than-perfect credit. FHA loans, for example, are designed to help borrowers with lower credit scores.
Refinance loans can be used to lower your monthly mortgage payments, reduce your interest rate, shorten your loan term, or access your home’s equity for major expenses such as home improvements, debt consolidation, or medical bills.
The approval process for a refinance loan typically takes a few weeks. The exact timeline can vary based on your financial situation and the type of refinance loan you choose. Our team will work with you to expedite the process as much as possible.
Most refinance loans require a home appraisal to determine the current market value of your property. This ensures that the loan amount reflects the value of your home. However, some streamlined refinance options may waive this requirement.
