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1.	What should I expect at time of application? Answer
2.	How long will the first meeting with Kristin take? Answer
3.	Will Kristin be able to determine how much house I can afford? Answer
4.	Can Kristin help me decide which type of mortgage is right for me? Answer
5.	What does my mortgage payment include? Answer
6.	How much cash will I need to purchase a home and when will I know the answer? Answer
7.	What is the difference between a fixed-rate loan and an adjustable-rate loan? Answer
8.	How is an index and margin used in an ARM? Answer

Q :	What should I expect at time of application?
A :	You should expect to meet with Kristin, go over the type of financing, price and program that best fits your needs.

Q :	How long will the first meeting with Kristin take?
A :	The initial meeting with Kristin can vary and averages between 30 minutes to 1 hour. The time frame depends on a variety of things. Some of those things may include, how many questions you have, weather or not this is your first meeting with Kristin, What type of financing you are getting for your home, if you are purchasing a new home or just refinancing your old one. These are just a sampling of some of the items that are covered in the inital meeting your situation will vary becasue everyones needs are unique.

Q :	Will Kristin be able to determine how much house I can afford?
A :	Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Give Kristin a call, and togeather we help you determine exactly how much you can afford.

Q :	Can Kristin help me decide which type of mortgage is right for me?
A :	There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial picture and how long you intend to keep your house. Kristin can help you evaluate your choices and help you make the most appropriate decision.

Q :	What does my mortgage payment include?
A :	For most homeowners, the monthly mortgage payments include three separate parts: Principal: Repayment on the amount borrowed Interest: Payment to the lender for the amount borrowed Taxes & Insurance: Monthly payments are normally made into a special escrow account for items like hazard insurance and property taxes. This feature is sometimes optional, in which case the fees will be paid by you directly to the County Tax Assessor and property insurance company.

Q :	How much cash will I need to purchase a home and when will I know the answer?
A :	The amount of cash that is necessary depends on a number of items. Generally speaking, though, you will need to supply: Earnest Money: The deposit that is supplied when you make an offer on the house Down Payment: A percentage of the cost of the home that is due at settlement Closing Costs: Costs associated with processing paperwork to purchase or refinance a house Kristin can assess your situation and help you decide which is the best financial fit for you. In your initial meeting you will be going over the numbers with Kristin and will get an initial estimate at that time. You will also receive a more exact estimate within 1 week of your closing date. Finally, when the closing is set and the HUD Settlement Statement has been completed by the title company, and approved by all parties you will receive the exact number from Kristin. Our goal is to deliver that number at least 24 hours in advance if at all possible to allow time for you to get the monies needed prior to the closing.

Q :	What is the difference between a fixed-rate loan and an adjustable-rate loan?
A :	With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.

Q :	How is an index and margin used in an ARM?
A :	An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally the interest rate that you pay is a combination of the index rate and a pre-specified margin. Three commonly used indices are the One-Year Treasury Bill, the Cost of Funds of the 11th District Federal Home Loan Bank (COFI), and the London InterBank Offering Rate (LIBOR).