There are no upfront commission or broker fees. Some lenders may require an application fee to obtain a letter of intent, but that is generally handled as a deposit to ensure client commitment to pursuing the offer. Other standard costs that have to be paid before closing are items such as scheduling an appraisal.

Some lenders charge a fee called a prepayment penalty if you pay off all or part of your mortgage early. When you closed on your home, you might have agreed to this fee. Not all mortgages have this fee. Normally, this fee only applies if you pay off your entire mortgage balance early (within three to five years). Sometimes, this fee could apply if you pay a large amount of your mortgage all at once. If you pay extra principal on your mortgage a little bit at a time, you don't usually have to pay this fee, but it's a good idea to check with your lender to be sure.

Closing most real estate loans will take anywhere between 2-8 weeks. The client's ability to gather all the necessary documentation will significantly impact the process. If there is no delay with the appraisal and title process, and the client manages to provide all required information in a timely manner, then a property can close within 3 weeks quite comfortably.

Most lenders will issue the funds to be deposited in the client's account within 36 hours from the time of closing. When working with private investors, this time period can extend up to 2 weeks, but that is a rarity.

If your credit history and score disqualifies you from all normal avenues of lending there are still pathways you can take. We are partnered with a credit repair firm that has proven capable of repairing your score. Feel free to ask about this service.