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Frequently Asked Questions

Still have questions? Feel free to give us a call at your earliest convenience.

What mortgage products do you offer?

We offer conventional, jumbo and government residential home loans, both purchase and refinance.

Will applying for a mortgage or mortgage refinancing affect my credit?

You can get a rate quote without affecting your credit score on our website or by talking with a mortgage loan officer. Once you’re ready to apply, we will request your full credit report from all three consumer reporting agencies. This is considered a hard credit pull and could affect your credit.

What types of documentation will FinishLine Mortgage need while I go through the mortgage process?

Consistent with standard underwriting practices, we make sure all loans conform to regulatory, investor and secondary market standards. In general, we’ll need proof of income, information about your assets and homeowner’s insurance.

What types of properties are eligible for a home loan with FinishLine Mortgage?

Mortgages are available for primary owner-occupied residences, second homes and investment properties. Property types include single family homes, condos, town homes, PUDs and multi-unit (typically 2 to 4 units) residential properties.

Who can apply for a mortgage with FinishLine Mortgage?

All applicants must be U.S. citizens, permanent residents, Foreign Nationals or non-permanent residents with acceptable visas.

What is the difference between a pre-qualification and a pre-approval?

Many lenders use these terms interchangeably, but pre-qualifications and pre-approvals mean different things for your confidence and competitiveness in the buying process. To get pre-approved, Finish Line Mortgage will verify your information, income and assets.

Once you are pre-approved, we provide you with a pre-approval letter. This allows you to submit an offer with confidence that you are personally approved for a loan and makes you a stronger buyer in a competitive housing market. Real estate agents often recommend a pre-approval letter when shopping for a home as a signal that you are a serious buyer and that you qualify for a mortgage. Once you have been pre-approved and identified a property to purchase, it must meet the Finish Line Mortgage property eligibility standards and other stated conditions for you to be approved for the loan.

Does FinishLine Mortgage require a property appraisal?

Yes. This is standard industry practice.

What is your rate lock policy?

Finish Line Mortgage offers rate locks up to 60 days. Work with your mortgage loan officer to determine the right lock term for you.

Rate locks will expire if you cancel the lock, withdraw your application, or the loan is declined. Outside of the rate-lock period, our mortgage rates may change at any time. Every loan must be locked no less than 7 days before the scheduled closing date. 

How long does it take to close a loan with FinishLine Mortgage?

Our goal is to close your loan quickly. How fast the loan closes is largely dependent on how quickly third-party services are completed (appraisal, payoff, title), and how quickly customers are able to provide necessary documents. In general, we aim to close the loan on your timeline.

What kind of third-party closing costs can I expect?

Closing costs are costs associated with a new mortgage or a refinance of an existing mortgage. Typical closing costs include fees for appraisal, title insurance and title search, transfer taxes (excluded on FHA loans), settlement services, property taxes, hazard insurance premiums, mortgage insurance, and government recording fees. These fees will vary depending on the transaction type and may vary due to the geographic location of the property. Refer to your Loan Estimate for an estimate of closing costs.

Does FinishLine Mortgage sell the mortgage post funding?

Yes. It’s extremely common practice in the mortgage industry to originate a loan, then sell it to the secondary market. We sell the entire loan to an investor who also services the loan. Servicing is the management of payments and account and is also the responsible party for managing an escrow account for taxes and insurance. Nonetheless, Finish Line Mortgage is not a brokerage. We have our own mortgage loan officers, processors and underwriters on staff.

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