Mortgage questions, answered

A mortgage broker helps you explore loan options and works with lenders in the application process. The lender makes the credit decision and funds the loan.

Michael is based in South Florida and serves clients in the 14 states listed on the licensing page. The contact mailing address supplied for the business is in Canton, Georgia.

Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Missouri, North Carolina, Oregon, Tennessee, Texas, Virginia and Washington.

Search NMLS Consumer Access for individual NMLS ID 898465. Stonebridge Mortgage Inc. has company NMLS ID 1938081.

A preliminary review is not a commitment to lend. Final approval requires verification and lender underwriting of the borrower and property.

No. The site's introductory quiz asks general questions and contact details; it is not a credit application or credit pull.

No. The quiz starts a conversation. A lender determines approval after reviewing an application and documentation.

Consider a comfortable total payment, including taxes, insurance, dues and reserves, rather than only the largest loan a lender may consider.

No universal 20% rule applies. Loan programs have different down-payment, insurance and eligibility requirements.

It is the amount estimated for the closing after down payment, lender and third-party charges, prepaid items, deposits and any credits are accounted for.

A standardized lender disclosure summarizing key terms, projected payments, closing costs and cash to close for a proposed mortgage.

Yes. Compare written estimates for similar loan amounts and terms, including rate, lender charges, credits and projected payments.

No. A longer term or a higher balance may increase total interest even when the monthly payment is smaller.

PMI is insurance associated with some conventional mortgages. The loan's disclosure shows whether it applies and what it costs.

For many conventional loans, you may ask the servicer about cancellation on the existing mortgage when eligibility rules are met. FHA and VA rules differ.

It replaces the existing mortgage to adjust loan terms such as rate or repayment length, without primarily borrowing additional equity.

It replaces your current mortgage with a larger one and provides part of the difference as cash after paying costs and the prior balance.

No. Costs may be covered by a higher interest rate or added to the loan amount, affecting payments and total cost.

Compare relevant upfront refinance costs with monthly savings and review the term and total interest; the simple ratio is not the entire decision.

It is a loan made by a lender and insured by the Federal Housing Administration when program and underwriting requirements are met.

No. Eligible repeat buyers may also be considered, subject to program and lender rules.

Eligible veterans, service members and certain surviving spouses may qualify for VA home loan benefits; the lender still reviews credit, income and occupancy.

A VA document confirming qualifying service-related benefit eligibility. It is not a loan approval.

Debt-service coverage ratio, an assessment of how property income compares with the loan's required debt payments under a lender's rules.

Possibly. Housing agencies publish programs with location, income, education, funding and lender requirements; eligibility must be checked for the individual transaction.

They may be paid through an escrow account. Tax amounts are determined by local authorities and can change after a purchase or assessment.

Discuss the full picture and timing. Different programs have different credit and underwriting requirements; no quiz answer alone determines eligibility.

Yes. Lenders review appropriate income and other records for self-employed applicants under the rules of the selected program.

Visit the Schedule page and select an available time on Michael's live Calendly calendar, or use the fallback inquiry form.

Call (561) 305-0267 or email mike@stonebridgemortgage.com. Do not send sensitive financial records by ordinary email.