DSLD Mortgage FAQ

We understand that your credit history is a sensitive topic. You won’t have to pull your credit before contacting us!

However, to accurately pre-qualify you for a mortgage and offer custom solutions, it’s essential to pull a credit report once you know what kind of loan is best for you.

Rest assured that we strictly adhere to privacy standards and will only proceed with your explicit verbal or written consent.

Determining affordability is more nuanced than just glancing at your bank balance. While it’s common advice to aim for a home that costs two to three times your annual income, several other variables, such as your credit score, debt-to-income ratio, and the size of your down payment, also play a critical role.

We offer a mortgage calculator on our website for a more refined estimate, and we encourage you to speak with our loan officers for a personalized assessment.

Both fixed-rate and adjustable-rate mortgages (ARMs) have their merits, depending on your circumstances. A fixed-rate mortgage offers a stable interest rate for the life of the loan, providing you with predictable monthly payments.

In contrast, an ARM features an interest rate that can change over time, usually in relation to an index. The choice between the two depends on factors such as your risk tolerance, financial stability, and the length of time you plan to stay in the home.

With an ARM, think of the index as a guide that helps adjust your interest rate over time. The margin is like a set extra amount added on top. The index and the margin decide your new interest rate after the first period, where it stays the same.

Don’t worry; we’ll spell out all these details in easy-to-understand terms in your loan agreement.

Choosing the right mortgage type is influenced by various aspects of your financial picture, including your current earnings, long-term financial goals, and how long you plan to keep the house. A one-on-one consultation with our DSLD Mortgage experts can provide invaluable insights tailored to your specific situation.

DSLD Mortgage believes in financial inclusivity. We have extensive experience working with and helping clients with diverse credit histories. Whether you’ve faced bankruptcy, late payments, or other credit challenges, we can often find a financing path tailored for you.

Thank you for your service! At DSLD Mortgage, we prioritize helping veterans secure VA Loans, which have several advantages. We also evaluate these benefits compared to other loan options to ensure you get the best possible deal.

Entrepreneurial journeys come with their own financial complexities, and we get that. Our Loan Officers specialize in navigating these intricate scenarios to offer business owners a hassle-free mortgage experience.

We offer VA and USDA Loans that allow zero down payment for those looking to invest as little upfront as possible. We can guide you through the criteria for each, helping you choose the option best suited for your needs.

As DSLD Homes’ preferred mortgage lender, we enjoy unparalleled insights into the construction timeline of your new home, which allows for a smoother buying process.

Even if you’re opting for a home outside the DSLD Homes family, we remain committed to your mortgage needs, offering the same high level of customer service and financial solutions. Just check our reviews and see how we’ve helped so many achieve their dreams of home ownership.

Your monthly mortgage payment is generally a composite of principal, interest, taxes, and insurance (taxes and insurance often collectively managed in an escrow account to ensure timely payment).

Initial costs typically include a down payment and closing fees. It’s worth noting that DSLD Mortgage doesn’t require a deposit or earnest money at the time of contract signing.

For more personalized guidance, or if you have additional questions not covered in this DSLD Mortgage FAQ, feel free to contact us anytime. We’re here to help you fulfill your homeownership dreams.