Frequently Asked Questions You have questions. We have answers. Can’t find the answer you’re looking for? Get in touch: firstname.lastname@example.org! About HomeFi Why choose HomeFi? Is HomeFi a lender Will HomeFi service my mortgage Does HomeFi offer mortgages in my state Home Financing Corporation Is Now HomeFi Loan Types and Products What types of mortgages does HomeFi offer? Do you offer loans for investment properties? Do you offer FHA, VA, or USDA loans? Do you offer construction or commercial loans? Do you offer HELOCs or second mortgages? Do you offer loans for the purchase of foreclosure or bank-owned properties? Do you refinance homes that are held in LLCs? HomeFi Price Guarantee What’s the HomeFi Price Guarantee What is a Loan Estimate How do we keep our prices so low What’s in the small print Rates How does HomeFi determine my mortgage rate? Will I get the same rate I was quoted? What is included in the monthly payment? What are points and credits? Rate Locking What is rate locking When can I lock my rate How much does it cost to lock my rate Loan Costs for Home Purchases When will I need to pay these costs? Which third-party fees will I be charged? Which third-party fees does the seller pay? Does HomeFi charge pre-payment penalties? Loan Costs for Refinancing How much will my closing costs be? What fees and costs can I expect with HomeFi? When will I be expected to pay fees? What will be the payoff amount of my current mortgage? Does HomeFi charge pre-payment penalties? Pre-Approval Letters What is a pre-approval letter? How do I get a pre-approval letter? How long does it take to get a pre-approval letter? How much does it cost to get a pre-approval letter? Is a hard credit pull required to get a verified pre-approval letter? Why would my verified income be different than my stated income? Why would my verified assets that are used to determine my down payment be lower than expected? Who can I contact if I have questions about my verified pre-approval letter? The HomeFi Loan Process Am I committing to HomeFi by getting pre-approved What do I need to do to lock my rate? How quickly can I close my loan? Do I need to have an escrow account? Can I transfer my current escrow account? Is my data secure? Will I have a point of contact at HomeFi? Credit Score How does my credit score affect my mortgage? How can I get my credit report What is a soft credit check What is a hard credit check What if I think my score is incorrect What if I don’t recognize a credit line that’s listed on my report How do multiple credit checks work How do you choose which credit score to use What if I’m applying with a co-borrower Is my credit score too low to apply Appraisals What is an appraisal? Why do I need an appraisal? Can I use or transfer a recent appraisal? I know an appraiser. Can he or she complete my appraisal report? How long does an appraisal inspection take? What is the difference between a home inspection and an appraisal? How does the appraiser determine the value of my home? If the appraised value of my home goes up, will this affect my taxes? What does an appraisal report look like? Which home improvements add value to a home? Loan Servicing How will my loan be serviced after closing? I thought HomeFi is a lender, not a broker How do I make my first payment? Can I set up automatic payments with HomeFi?