Frequently Asked Questions
Please take a moment to learn more about Artisan Mortgage and
New York or
Pennsylvania mortgages
and refinancing in general by reading the list of frequently asked
questions below.
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Who Is Artisan Mortgage Company, Inc?
Artisan Mortgage is the premier Northeast Mortgage Broker in the New York and
Pennsylvania markets. The reason homebuyers throughout New York and Pennsylvania
choose Artisan Mortgage is simple - we make finding the right mortgage easy and
hassle free. Our mortgage team specializes in saving you time, trouble and
money. In addition to offering some of the best interest rates in New York and
Pennsylvania, we provide a wide array of special programs.
Our company has been serving New York and Pennsylvania for nearly a decade,
providing homeowners with the most pleasant and professional mortgage service
possible. Artisan Mortgage Company, Inc. is one of the premier mortgage brokers
in the Northeast committed to helping those in their community to realize their
homeownership dreams.
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Why Use Artisan Mortgage?
Great Rates and Low Closing Costs
Artisan Mortgage offers the lowest possible rates on loans with ultra low closing costs and never any 'miscellaneous' hidden expenses.
It's an old formula, but it works: Artisan Mortgage work on a high volume of mortgage loans, with low overhead. By centralizing our operations and using the latest technology,
Artisan Mortgage can cut costs significantly. As a result, you take advantage of great rates on high-quality loans at a big cost savings.
Making It Easy
The process is convenient! You can complete a loan application on-line, or one of our loan representatives will send an application packet for next-day delivery. Throughout the process,
Artisan Mortgage will stay in close contact via the internet, overnight mail, telephone and fax.
Artisan Mortgage also offer a 24-hour answering service, so you can always be in touch with a loan representative.
Fast Approval and Closing
Artisan Mortgage have the technology to approve your loan in minutes -- instead of days -- with fewer conditions and hassles than traditional mortgage lenders or brokers. Plus,
Artisan Mortgage use appraisers and title companies located in your neighborhood to ensure our closings proceed smoothly and on time!
Tailored Programs
Your financing needs are probably not the same as those of your neighbors. That's why
Artisan Mortgage offers a range of flexible home loan options.
Artisan Mortgage tailor each mortgage loan to your unique financial situation. This "mortgage planning" approach is how
Artisan Mortgage help you make the right choice when you purchase or refinance your home.
At Your Service
As a service organization, our only measure of performance is customer satisfaction. That's why
Artisan Mortgage go out of our way to ensure that you are completely satisfied with our financial solutions.
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Our Mission
Rising Above Your Expectations
Artisan Mortgage are committed to exceeding your needs and expectations through innovative thinking, planning, dedication and the timely delivery of products and services that are unequaled in value.
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Your Partner In Service
Committed To Your Success
The loan representatives at Artisan Mortgage have the experience to help you coordinate both short- and long-term financial goals.
Artisan Mortgage take the time getting to know you and understand the details of your situation.
Artisan Mortgage then assist you in making a strategic decision with an appropriate mortgage product. This unique partnership ensures that you get maximum value from the real estate you own.
Personal Service
You get more than just a mortgage when you work with Artisan Mortgage. You benefit from a personalized, comprehensive plan that can truly strengthen your financial position.
Quality Solutions
As a volume lender, Artisan Mortgage offers a wide selection of competitively priced mortgage products.
Artisan Mortgage will help you make the right choice for your unique situation and save you money, both at closing and over the life of your loan.
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How Artisan Mortgage Can Help You?
Connections That Work For You
Artisan Mortgage have developed long-term relationships with numerous wholesale national investors. This helps us provide you a variety of competitively priced loan products.
Artisan Mortgage offer loan programs for your primary residence, a second or vacation home, or an investment property.
Whatever your needs are, Artisan Mortgage can help.
Delivering What You Need
Our loan representatives are knowledgeable about the many loan programs Artisan
Mortgage offer. Their goal is to analyze your situation and determine the program that best meets your needs.
Artisan Mortgage loan products and services are updated regularly to meet changing market conditions and our borrower requirements.
Save Time And Frustration
Give Yourself An Advantage
Choosing a home only to find out you can't afford it can be upsetting -- emotionally and financially. That's why it pays to be approved before you look for a home. You will gain a number of important advantages, and in today's competitive market, you need every advantage you can get.
Artisan Mortgage offers you pre-approval that can save you time and frustration as you shop for your new home.
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Your Security
Artisan Mortgage is in this business for the long term. Our competitive rates, products and high-quality service have helped our business increase every year. As a result,
Artisan Mortgage have proven to be a consistent, dependable source of funding for your mortgage needs. Whether you're financing your first home with us, or returning to finance another,
Artisan Mortgage is ready to be your home-buying partner ... today and in the future.
In fact, the high number of Artisan Mortgage repeat customers is a testament to our focus on customer satisfaction and quality.
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How do I know how much house I can afford?
Generally speaking, you can purchase a home with a value of two or three
times your annual household income. However, the amount that you can borrow
will also depend upon your employment history, credit history, current
savings and debts, and the amount of down payment you are willing to make.
You may also be able to take advantage of special loan programs for first
time buyers to purchase a home with a higher value. Give us a call, and Artisan
Mortgage
can help you determine exactly how much you can afford.
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What is the difference between a fixed-rate loan and an
adjustable-rate loan?
With a fixed-rate mortgage, the interest rate stays the same during
the life of the loan. With an adjustable-rate mortgage (ARM), the interest
changes periodically, typically in relation to an index. While the monthly
payments that you make with a fixed-rate mortgage are relatively stable,
payments on an ARM loan will likely change. There are advantages and
disadvantages to each type of mortgage, and the best way to select a loan
product is by talking to one of Artisan Mortgage Consultants.
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How is an index and margin used in an ARM?
An index is an economic indicator that lenders use to set the interest
rate for an ARM. Generally the interest rate that you pay is a combination
of the index rate and a pre-specified margin. Three commonly used indices
are the One-Year Treasury Bill, the Cost of Funds of the 11th District
Federal Home Loan Bank (COFI), and the London InterBank Offering Rate
(LIBOR).
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How do I know which type of mortgage is best for me?
There is no simple formula to determine the type of mortgage that is best
for you. This choice depends on a number of factors, including your current
financial picture and how long you intend to keep your house. Artisan Mortgage will help
you evaluate your choices and help you make the most appropriate decision.
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What does my mortgage payment include?
For most homeowners, the monthly mortgage payments include three separate
parts:
Principal: Repayment on the amount borrowed
Interest: Payment to the lender for the amount borrowed
Taxes & Insurance: Monthly payments are normally made into a special
escrow account for items like hazard insurance and property taxes. This
feature is sometimes optional, in which case the fees will be paid by you
directly to the County Tax Assessor and property insurance company.
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How much cash will I need to purchase a home?
The amount of cash that is necessary depends on a number of items.
Generally speaking, though, you will need to supply:
Earnest Money: The deposit that is supplied when you make an offer on the
house
Down Payment: A percentage of the cost of the home that is due at
settlement
Closing Costs: Costs associated with processing paperwork to purchase or
refinance a house
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Do I need to have good FICO credit score to get a loan?
No, Artisan Mortgage specializes in helping consumers with all
types of credit find a mortgage loan to meet their needs. Artisan Mortgage search our
nationwide network of professionals and put you in contact with the one best
suited to help you find the right type of home financing. The Artisan Mortgage
professionals will help you work through your past problems and move towards
a brighter future.
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I really want to own my own home, but I'm not sure I can afford it.
Where do I start?
Lots of people don't even consider buying a home because they're afraid
they can't afford it. But for most people, homeownership is within reach -
especially with some of the special programs for first-time home buyers. In
fact, for many, homeownership is just as affordable as renting - in some
cases even more affordable. The best place to start is with a Artisan Mortgage recommended broker. It's free, there's no obligation, and a broker
can help you explore all the options of homeownership.
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What documents will I need to provide when I apply for a loan?
Be prepared to provide verification of income, including your pay stub
and tax returns for the previous two years. You will also need to provide
bank account numbers and details about your long-term debt, including credit
cards, auto loans, child support, etc. If you are self-employed, you may
need to provide financial statements for your business. Lenders want
detailed information. For example, the origin of your down payment will be
queried. Be sure to inform your lender of any changes in your employment,
salary, debt or marital status between the time you submit your application
and the time you close.
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Will I pay more for my loan if I get it through a Artisan Mortgage broker?
Not necessarily, though the broker does perform a service for which he or
she receives a fee. When a broker processes the paperwork on a loan, it
costs less for the lender to make the loan. Therefore, lenders often
discount loans to brokers. Here's an example of how it might work: Say a
borrower finds a loan on their own at a rate of 7.5 percent with two points.
A broker gets the same loan for 7.5 percent, but pays only one point. The
broker may then add one point to cover his or her fee, but the cost to the
borrower is the same - 7.5 percent with 2 points. The borrower pays no
additional cost and benefits from the broker's service. By state law, the
broker's fee and the discount the lender offers the broker must be disclosed
to the borrower.
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CALL
1.800.499.0141 TO GET YOUR RATE 
