FREQUENTLY ASKED QUESTIONS

ABOUT 24/7 REAL ESTATE LOANS
What is 24/7 Real Estate Loans?
24/7 Real Estate Loans quickly connects consumers to lenders who compete for your business. The lenders offer an array of mortgage loan types, including Fixed Rate loans, ARMs, FHA, VA, Conventional, Jumbo and Super Jumbo loans.

For more information please go to our About Us page.

How much does it cost to use 24/7 Real Estate Loans?
Nothing. 24/7 Real Estate Loans is a free consumer service. We get paid by lenders who participate on 247RealEstateLoans.com. Should you choose to work with one of our lenders, you should request a good faith estimate from that lender.

How do I get started?
It’s simple. Just complete our free online loan quote request. It only takes about 30 seconds to complete the 1 page form. Remember there is no obligation for filling out the free loan quote.

Am I obligated to accept an offer?
You are under no obligation to accept a loan offer that is presented to you.

How fast will I get offers?
Most lenders respond within 24 to 48 hours.

Does 24/7 Real Estate Loans pull my credit report?
24/7 Real Estate Loans does not pull your credit report when you complete a loan quote request. 24/7 Real Estate Loans does not even ask you for your Social Security Number.

What information do you need for the Free Loan Quote?
We ask questions about you, the type of loan you are looking for, and your financial situation (income, assets and debts). If you're refinancing your mortgage or looking for a home equity loan or line of credit, we need to know about the terms of your current mortgage, how much you owe and how much you want to borrow.

Does 24/7 Real Estate Loans charge any "upfront fees"?
24/7 Real Estate Loans does not charge any kind of fee for the service of matching borrowers with lenders.

How current are the rates on this site?
Rates on this site are updated automatically each business day, and often several times a day. The rates are provided by Freddie Mac and Mortgage Rates (National Rates), Yahoo Finance (Regional Rates),  Zillow Mortgage Marketplace (State Rates) and Monitor Bank Rates (Jumbo Loan Rates).

How can I change the information I submitted on my loan quote request?
Once the information has been sent the information cannot be changed. Sorry. If you have updated information please fill out another free loan quote.

What if I don't have an email address?
The 24/7Real Estate Loans system is designed to notify you via email. If you don't have an email address, you can get one for FREE through web-based services such as Yahoo!, MSN and Gmail.

What if I don't want to give you my social security number?
You don’t have to. 24/7 Real Estate Loans does not ask for your Social Security Number during the loan quote request process.

LOANS AND LENDERS
Who are your lenders?
Our lenders range from some of the largest institutions in the country to small and local mortgage brokers. In some situations, you may get the best price from a large lender. In other situations, you may get the best price from a smaller mortgage broker.

What types of mortgage loans are available through this site?
Almost all types of residential loans are offered through 24/7 Real Estate Loans. Our most popular loan options for both purchase and refinances are; 30, 25, 20, 15 & 10-year fixed-rate mortgages, Adjustable Rate Mortgages (ARMs), FHA Loans and VA Loans.

Is their a type of loan that is not available through 24/7 Real Estate Loans?
Yes there is. Mobile home loans are not available through 24/7 Real Estate Loans. Also we work with residential home loans so commercial real estate loans are not available.

What are your rates? What are your closing costs?
24/7 Real Estate Loans does not make loans. 24/7 Real Estate Loans matches you to lenders and brokers who will quote you rates and closing costs. Instead of quoting you rates from each lender and having you call the lender to see if you qualify, we simplify the process. Lenders call you with quotes saving you time and money.

Can I negotiate directly with your lenders?
Yes. You are under no obligation to accept an offer from our lenders. You can negotiate rates and fees and loan programs with any of our lenders.

Do you have Lenders who deal with less-than-perfect credit?
Yes! We have Lenders who work with borrowers with perfect credit and less-than-perfect credit.

What is the difference between interest rate & APR?
Your interest rate is the monthly cost you pay on the unpaid balance of your home loan. An Annual Percentage Rate (APR) includes both your interest rate and any additional cost or prepaid finance charges such as the origination fee, points, private mortgage insurance, underwriting and processing fees. (Your actual fees may not include all of the items above.)

While your interest rate is the rate at which you will make your monthly mortgage payments, the APR is a universal measurement that can assist you in comparing the cost of mortgage loans offered by different mortgage lenders.

How important is the loan to value ratio?
The loan-to-value ratio or “LTV” shows how much equity you have in your home. Equity is the difference between how much your home is worth and how much you owe on it. For instance, if your home is worth $250,000 and you owe $150,000 on your mortgage, you have $100,000 worth of equity in your home. To calculate your LTV, divide your current loan amount by your home’s value. In our example, your LTV would be 60%.

In the world of lending, higher loan-to-value (or lower equity) means there is a greater risk the borrower may default on the loan. Therefore, LTV is important in determining qualification for home loans and rates.

Can I get a loan if I live outside the United States?
Yes, as long as certain criteria are met. Typically, you must be a U.S. citizen with established credit and income history. Additionally, the property must be located in the 50 United States or the District of Columbia. As always, every situation is unique, so please fill out a FREE Loan Quote to be sure you qualify.

Does having a co-borrower improve my chances of finding a loan?
Including a co-borrower on your loan request may or may not affect your chances of finding a loan. Lenders will consider the credit reports, income, assets, debts and other information about both borrowers. Before you decide whether or not to include a co-borrower on your loan request, consider your combined financial picture.

How do I compare loan offers?
It's important that you evaluate all of the terms of each offer before you choose the one that's best for you. Compare the interest rate, APR, points, loan amount, loan term and other details of the loan offer.

PRIVACY AND SECURITY
How secure will my information be?
24/7 Real Estate Loans uses secure technology to ensure that the safety of the data you send us is protected, confidential and secure. 24/7 Real Estate Loans uses SSL (Secure Sockets Layer) technology to transmit all data between browsers and our servers. In order to use the site, users are required to be running an SSL-capable browser. MS Internet Explorer 3.0 (or later) and Netscape Navigator 2.0 (or later) are all SSL-capable browsers. For more information please go to our Security and Privacy page.

Will you share or sell my information?
24/7 Real Estate Loans believes that you should be aware of who we are, the types of information we may collect on our Web site, and what we do with your personal information. Please see our Privacy Policy. Your information will be shared with the lender(s) with whom you are matched so that they can respond to your loan request.

My question wasn't answered here. How can I contact 24/7 Real Estate Loans directly?
We want to be your advocate throughout the loan process. If you have questions or comments at any time, please Contact Us.

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