• Is it necessary to get pre-approved before shopping for a home?

    Getting pre-approved for a Bellco home loan is a quick and easy process that provides you with a specific loan amount and a pre-approval letter.  Having a pre-approval letter shows that you are financially able to buy a house, helps define your search, and provides you more leverage when negotiating with the seller.

    Please note:  The loan will still need to be fully underwritten as the pre-approval is not a commitment to lend.  Your pre-approval will expire 90 days from the date of the letter.

  • What is a rate lock?

    A rate lock is a means for the borrower to lock in the interest rate that a lender is offering. Rate lock periods may vary from lender to lender.  Please discuss rate lock options with a loan originator. 

  • Can I borrow money for my down payment?

    Typically you cannot borrow money for your down payment or closing costs.  There are some exceptions such as borrowing against your own assets such as a 401K, share loan against a deposit account, etc.  Please consult with a loan originator for more information. 

  • What does it mean to “close” a mortgage loan?

    On a purchase transaction, real property in most jurisdictions is conveyed from the seller to the buyer through a deed. The point in time at which time the conveyance deed is executed and title to the property is conveyed to the buyer is known as the "closing". During the closing process, you can sit with a Title Company to review and sign the final documents.

    On a refinance transaction, a closing occurs when the Note and the Deed of Trust are signed.   

  We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.