1) What is Core State Financial?
Core State Financial (CSF) is a mortgage company. We are strictly a
mortgage broker and primarily engage in providing FannieMae,
FreddieMac, and Sub-prime loans.
We also offer Business, Commercial, Construction and loans for mix
use property.
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2) How long CSF has been in the business?
We were established in 2002 as “Access American Mortgage” and in
2004 we changed our name to “Core State Financial”.
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3) What makes CSF different from others?
CSF is unique in our service. You can apply either online
www.corestatefinancial.com or on the phone 1-877-477-5656. Our
knowledgeable staff will approach you and help you in best way to
customize your mortgage as per your desire under the suitable rate and
program.
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4) Can I apply for the loan before I find the property?
Yes, it is always a good idea to secure your finances before you go to
shop for a house and it will also gives you an idea how much you can
afford to buy the house for, But once you allow your credit to be
reviewed you should find the house as quickly as possible because
your credit expires after 30 days.
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5) If I want at the time of purchasing, can someone work with my
realtor?
Yes each loan is assigned to an individual loan officer and he/she will
be in touch with you, and as per your request he/she will be more than
happy to work with your realtor.Back to Top
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6) Is there any cost to apply for the loan either online or via
phone?
No, CSF does not require any up front fees for the loan application.
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7) What should I expect after I submit my loan application?
Once you apply for the loan within 1 hour someone will be touch with
you to review your credit with you and within 24 hours we will deliver our
company's decision based on your credit and income.
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8) I don’t have much money for my down payment, can I still get
the loan?
Yes, CSF offers lots of programs/products with as little as 0% down
You can finance up to 107% of the value of the property in certain
cases. For more detail please call us at 1-877-477-5656, or write to us
benniohri@corestatefinancial.com.
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9) Can I change my application, after I submit it?
Yes, as long as your rate is not locked you can change your rate.
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10) When can I lock my rate?
Once your loan consultant reviews your credit application and your
income numbers and determine that you can lock the rate, he/she will
go ahead and lock the rate on your request, But in order to lock the
rate you should provide him/her with a physical address of the property
you are trying to buy.
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11) How much can I borrow?
Your limit can be determine after reviewing your income and credit.
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12) I already apply for the loan through different mortgage
company, Is it ok to apply with your company?
Yes, its ok, but you should not apply with a lot of mortgage companies
simultaneously. Doing so, may hurt your credit, For more details please
write or call us.
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13) What If I have bad credit or I filed Bankruptcy?
CSF lending partners offers wide range of products for people with
good as well as bad credit.
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14) Are there any hidden fees with the loan?
No, all the fees are disclosed to you on the GFE before going to
settlement and 24 hours ahead we will try to provide you final
settlement sheet also.
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15) How quickly can I get my approval and How quickly can I
close my loan?
The loan approval varies form loan to loan. But, once we review your
credit we will give you an approval anywhere between 2 to 24 hours. As
far as closing the loan is concerned it can take anywhere between 3 to
5 weeks from the day we take your application depending on how
quickly you can provide the required documentation.
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16) What type of documentation do I need to provide to lender
in order to close my loan?
The documentation will vary from loan to loan. In some cases we don’t
even ask for any documentation.
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17) What is the difference between Interest rate and APR(
Annual Percentage Rate) ?
The interest rate is the cost to borrow the money from the lender. The
APR is the total cost of the mortgage over the life of the loan, Including
closing cost and points.
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18) What is point and how many do I have to pay?
Generally speaking, points are the fees added on the loans. One
point is 1% of the loan amount. The points are paid at the time the loan
is closed not at the time of applying for the loan.
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