Frequently Asked Questions.
About Home Fast Funding
We started Home Fast Funding on one simple idea, to provide borrowers the ability to
shop for a mortgage loan from multiple lenders all in one place. This meant providing
reatl time transparent rate quotes, low rates, no lender fees options and one point of contact from beginning to end.
We currently offer our services throughout all of Florida and Pennsylvania. We plan on expanding to other states shortly.
Multiple Programs to fit your needs
Since Home Fast Funding is a broker we have access to multiple wholesale lenders.
We currently offer Conventional, Jumbo, FHA, USDA, VA, Fix and Flip, Commercial,
Foreign National and Reverse Mortgages. We also have a full menu of products for alternative income documentation loans utilizing bank statements, asset depletion and cash flow.
Yes. We offer both VA and USDA which are zero down home loans.
If you do not qualify for those programs we have investors that offer Down Payment Assistance programs.
We have programs for investment properties for both residential and small commercial which are available for: Residential 1-4 Units, Multi-Family, Mixed-Use, Retail, Office, Automotive, Warehouse, Self-Storage
Qualifying for a Mortgage
I found a house, now what?
Conventional loans is a traditional mortgage. Conforming loan refers to the loan limit in your county.
For example, the conforming loan limit is for normal areas $726,200 and $1,089,300 in high-cost areas.
Government loans are your FHA (insured by United States Department of Housing and Urban Development HUD) and VA (insured by Veterans Affairs).
All FHA loans have Upfront Mortgage Insurance (1.75% of the
loan amount) and monthly mortgage insurance (on average it’s about .85% of the loan amount divided by 12 for the life of the loan.
Interest Rates and Locking
Stuff you need to know
Interest rates vary from broker to broker, direct lender to direct lender and bank to bank. The market
(price of MBS bonds) sets the interest rate baseline. Companies then adjust the rates to make a profit.
Each company will mark up the interest based on the overhead and profit desired. Our margins are set the
same for every lender we have a relationship with making true comparisons amongst lenders possible.
What to expect