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East Coast Capital offers conventional, FHA and VA, Non-QM, refinance, renovation, reverse mortgage and home equity financing options. Programs have different borrower, property and occupancy requirements. Availability depends on your situation, underwriting and state.

A fixed-rate mortgage keeps the same interest rate for the loan term. With an adjustable-rate mortgage, the rate can change at scheduled intervals under the loan agreement. Review the initial period, adjustment limits and potential payment changes. Taxes, insurance and other charges can change even with a fixed-rate loan.

Mortgage insurance protects the lender if a borrower defaults; it does not remove the borrower’s repayment obligation. Whether it is required, how it is paid and when it can end depend on the loan program and other factors. Ask your loan officer to explain any mortgage insurance or program funding fee that applies.

Start by connecting with an East Coast Capital mortgage professional. They can discuss your goals, available programs and the appropriate secure application process. Provide personal and financial documents only through the secure channel your loan officer identifies.

Your lender may request identification, recent pay statements, W-2s, tax returns, bank statements and information about debts or other income. The list varies by employment, finances, loan program and property. Your loan officer can explain what is needed for your application.

A preapproval is a lender’s preliminary assessment based on the information reviewed and its stated conditions. It is not a guarantee of final approval or funding. Changes to your finances, credit or property details, along with underwriting and other conditions, can affect the final decision.

Down payment requirements vary by loan program, property use and borrower qualifications. Discuss the funds needed for closing as well as your down payment, and keep room in your budget for ongoing homeownership costs. Your loan officer can explain the options for which you may be eligible.

Some mortgage and assistance programs may offer features that help eligible first-time buyers. Requirements can include income, property location, occupancy, education or other conditions. Participation and availability vary. Ask a loan officer about programs relevant to your circumstances.

A lender evaluates your income, debts, credit, assets, property and the loan program’s requirements. The amount you qualify for and the amount that fits your household budget may differ. A payment calculator helps explore scenarios; it does not determine eligibility or approve a loan.

Your credit profile, loan amount, down payment or equity, property use, loan program and market conditions can affect pricing. Compare the interest rate, APR, points, fees and other terms. Published national averages are general information and are not an East Coast Capital rate quote.

Closing costs can include lender charges, third-party services, government fees, prepaid expenses and initial escrow deposits. Your down payment is separate from these costs. Review your Loan Estimate and Closing Disclosure, and ask your loan officer about charges or changes you do not understand.

Principal and interest are only part of the cost. Depending on your loan and escrow arrangements, your payment may also include property taxes, homeowners insurance and mortgage insurance. Association dues and other ownership expenses may be paid separately. Include those costs when considering your budget.

Discount points are an upfront charge paid for a lower interest rate than the same lender would otherwise offer for a comparable loan. One point equals one percent of the loan amount; the rate reduction varies. Compare upfront costs and the time you expect to keep the loan before choosing whether to pay points.

Refinancing replaces your existing mortgage with a new loan. Eligible borrowers may explore changing the term or payment structure, or accessing available equity. Compare closing costs, the repayment period and total interest. By refinancing your existing loan, your total finance charges may be higher over the life of the loan.

No. A lower payment can result from extending repayment over a longer term. Closing costs, the new rate and the time you keep the loan also affect the result. Compare the remaining cost of your existing mortgage with the full cost of a proposed refinance, including fees.