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Frequent Questions
} How long will it take to process
my loan?
Just a 10 minute phone call to obtain the necessary information and you can be
approved for your loan the same day. We have in house processing and don't outsource our
work. Everything is under the same roof eliminating wait time.
} Is mortgage insurance required?
You can choose from hundreds of programs that can help to arrange your closing to
be obtained with out additional costs.
} When can I lock in the interest
rate and points?
You may lock your interest rate when you apply for your loan or any time there
after. You may choose no points or points anytime up until 1 week prior to closing.
} If I have locked in a rate, and
the lender's rate drops, can I lock in at the lower rate? Will the lender charge me an
additional fee to lock in the lower rate?
North Atlantic Mortgage Corp. does not charge
a fee to lock a rate. With some special programs you may choose to re-lock once more if
the rate goes down before your closing date is scheduled. Other Co.'s charge for doing
this (approx. 1 pt) but North Atlantic does not charge this fee in order to promote your return business.
Proceed to application
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