Mortgage Education Center

Everything you need to know about mortgages.

ARM vs. Fixed Loans

If you’re planning to stay in your home for a relatively short period of time, consider an adjustable rate mortgage.

If you’d prefer consistent monthly payments of principal and interest during the life of your loan, a fixed rate mortgage may be easier to budget and plan.

Rates and Costs

When considering mortgages, there are two factors that determine the total cost of the loan — the interest rate and the costs associated with the transaction.

Credit and Income

On Q Financial, Inc. mortgage professionals have the experience and training necessary to identify your individual strengths and match you with home loan programs that best fit your financial situation.

Mortgage Insurance

Mortgage companies like On Q Financial, Inc. require some borrowers to purchase mortgage insurance in order to protect the lender if the borrower is unable to pay the mortgage.

Frequently Asked Questions

Will my credit history prevent me from getting a mortgage?

An On Q Financial Mortgage Consultant can help explain how your credit will affect your ability to get a loan and can discuss available financing options.

What will my rate be?

Interest rates are based on a variety of factors including but not limited to: loan purpose, credit history, ability to repay, and loan amount.

How much do I need for a down payment?

Your down payment requirements will depend on the type of home loan you choose and the type of property you are buying. Your required down payment will usually range from 3-20% of the home’s purchase price. On Q Financial, Inc. offers a variety of different loan programs including down payment assistance programs, contact a Mortgage Consultant for more information.