Frequently Asked Questions
– In many cases there is zero up front cost for a new loan or a refinance. Most applicable fees can be rolled into the loan & effectively be financed. The only exception to this is if an appraisal is required, which will cost between $150-600
– Absolutely not! Your loan officer will be your only point of contact. MCK Lending is partnered with over 40 of the nation’s leading lenders, which your loan officer will have access to internally, so you don’t have to deal with pestering phone calls & emails.
– Our application will not affect your credit score what so ever! If you like the terms you’re presented & decide to accept a loan, then a credit pull would be required. A mortgage inquiry will only cause the score to drop by 3-5 points in most cases.
– Most loans close & fund in 2-4 weeks.
– An acronym for ‘Home Equity Line of Credit’. This is a revolving credit line in which the limit is largely dictated by the equity you have in the property.
– Interest rates vary based on a plethora of factors including but not limited to your credit score, loan amount, property value, occupancy (primary residence/investment property/2nd home), loan type (Conventional, FHA, VA, USDA) & lien position. Every lender has different rate tables for every factor by which rates are dictated.
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You deserve skilled, mortgage professionals who will give you their best, every time!
Checking eligibility will not affect your credit score.
Completing the questionnaire will assess your home loan eligibility, allow you to review estimated offers if eligible, and will not impact your credit score. If you accept a proposal, a one-time credit inquiry will be required which may impact your credit score
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