What is the difference between a fixed-rate and an adjustable-rate mortgage?

A fixed-rate mortgage maintains the same interest rate throughout the loan term, providing stability. In contrast, an adjustable-rate mortgage (ARM) typically starts with a lower rate but may change over time based on market conditions.

What credit score is required to qualify for a mortgage?

Lenders typically prefer a credit score of 620 or higher for conventional loans. Government-backed loans like FHA and VA may accept lower scores.

Can I refinance my mortgage to lower my monthly payments?

Yes, mortgage refinancing can often reduce monthly payments by securing a lower interest rate or extending the loan term.

How much down payment do I need to buy a home?

The down payment requirement varies but often ranges from 3% to 20% of the home's purchase price. Certain loan programs, such as FHA or VA, may have lower down payment options.

What is the mortgage approval process like?

The process involves pre-approval, application, document verification, underwriting, and closing. Pre-approval helps determine the loan amount you can afford.

What's the difference between pre-qualification and pre-approval for a mortgage?

Pre-approval is a more rigorous process involving a comprehensive review of your credit, income, and other financial factors, resulting in a firm commitment from the lender for a specific loan amount.

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Our services encompass mortgage solutions, investment property loans, and expert refinancing, all tailored to your unique financial goals.

Eroica Financial Services
Keith Krop, NMLS #320270
Eroica Financial Services License: NMLS # 836583

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Mortgage Purchase/Refinance

Investment Property Loans

Mortgage Refinance

Conventional Loans

FHA & VA Loans

USDA Loans

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Eroica Financial Services

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Eroica Financial Services Keith Krop, NMLS #320270 Eroica Financial Services License: NMLS # 836583

Service We Provide

Our Services

Mortgage Purchase/Refinance

Investment Property Loans

Mortgage Refinance

Conventional Loans

FHA & VA Loans

USDA Loans

Our Gallery

Eroica Financial Services

Quick Links

Get In Touch!

Eroica Financial Services
Keith Krop, NMLS #320270
Eroica Financial Services License: NMLS # 836583