Frequently Asked Questions about Mortgages - Answered by Carrete Mortgage

At Carrete Mortgages, we do not charge our customers for our services. When mortgages are successfully processed, our compensation comes from the lenders, so you don't have to worry about paying anything out of pocket.

If clients do not qualify with an institutional bank, there may be a charge for services.

The main difference between using a bank and a mortgage broker is the scope of options and the level of personalized service. When you work with a bank, you are limited to the mortgage products and rates offered by that particular institution. This can make it more difficult to find the best deal and may not be tailored to your specific needs. On the other hand, a mortgage broker has access to a wide range of lenders and can help you find the best rates and terms available. Additionally, a mortgage broker focuses on providing personalized service and can work with you to build a customized mortgage plan that meets your needs and financial goals. While working with a bank may be convenient, using a mortgage broker can give you access to a broader range of options and a higher level of personalized service.

When applying for a mortgage, you must typically provide copies of tax paperwork, pay stubs, bank statements, photo identification, and proof of current address. At Carrete Mortgages, we will guide you through the documentation process to ensure you have everything you need for a successful application so you can spend your time and energy on what matters to you the most, like your family or loved ones. At the same time, we do all the work for you!

At Carrete Mortgages, we have access to a team of professionals in different areas, even in your mother tongue. We can recommend experienced realtors, lawyers, appraisers, and inspectors to ensure a smooth home-buying process.

At Carrete Mortgages, we understand the importance of a good credit score in the mortgage application process. We will explain how credit scores work and how lenders look at them. We will also provide you with a list of do's and don'ts to help you improve your credit score and increase your chances of getting approved for a mortgage.