Legally, his name is Keith; however he is lovingly known as Beef. His older brother was two when Keith was born, “Keith” was pronounced “Beef” - the name stuck. Clients and agents are welcome to call him either name. The name “Beef” has followed him from childhood into the professional world.

A mortgage is a loan specifically used for purchasing or refinancing a property, where the property itself serves as collateral for the loan.

The mortgage application process typically involves gathering and submitting necessary documents, such as income verification, credit history and property information. Once submitted, we evaluate your application, assess your creditworthiness, and determine the loan terms.

Mortgage eligibility is influenced by several factors, including credit score, income, employment history, debt-to-income ratio, down payment amount and the property's value and condition.

A fixed-rate mortgage maintains the same interest rate throughout the loan term, providing predictable monthly payments. In contrast, an adjustable-rate mortgage (ARM) has an interest rate that can fluctuate after an initial fixed period, potentially leading to changes in monthly payments.

Pre-approval is a preliminary assessment of your creditworthiness, based on a review of your financial information. It helps determine your potential borrowing capacity and gives you an idea of the mortgage amount you may qualify for, enabling you to shop for homes within your budget. A pre-approval is valid for 120 days from credit pull.

A down payment is the initial payment made towards the purchase of a property. The amount required typically depends on various factors, but it is often expressed as a percentage of the property's purchase price. Common down payment percentages range from 3% to 20% of the home's value, or as low as 0% for eligible veterans.

Closing costs are fees and expenses associated with the mortgage loan and the transfer of ownership. They can include appraisal fees, title insurance, loan origination fees, and prepaid items like property taxes and homeowner's insurance. Read more about closing costs.

The timeline to close a mortgage can vary depending on several factors, including the complexity of the transaction, the responsiveness of the parties involved, and the specific requirements of the lender. Generally, the mortgage closing process takes about 21 to 45 days from the time the purchase agreement is signed.

Interest rates are variable and highly dependent upon key factors, including but not limited to: loan program, credit score, loan amount, loan to value, debt to income, property type, loan purpose. Interest rates are not one size fits all.

Of course! Everyone’s home financing journey is different, we take the time to educate our clients whether it’s their first purchase or their 15th refinance.

Yep! We work with 14 different lenders and banks to find you the best mortgage option. For those who need an extra boost with their down payment or closing costs, we have access to both grants and repayable loans. Whenever looking for assistance, remember there is no such thing as free money - we’ll walk you through it!

Anyone who has NOT owned a home in the last three years is considered a first time homebuyer!

Get in touch with the Gervais Mortgage group, or click apply now to get started.