Frequently Asked Questions
What types of loans do Prestige Capital Inc. offer?
We offer conventional, FHA, VA, jumbo, bridge loan, and specialty programs. We’ll review your situation and recommend the options that fit your goals and budget.
How do I obtain a letter of pre-approval from Prestige Capital Inc.?
We are happy to walk you through the steps by phone, or you can visit our lending page and contact us via email.
How do I know which mortgage is right for me?
We look at your income, credit, down payment, credit score and comfort level with monthly payments — then recommend a program that balances affordability, flexibility, and long-term savings.
How much can I afford to borrow?
It depends on income, debts, down payment, property taxes, insurance, and the loan type. We can run a quick affordability review and show you realistic numbers before you shop.
How are mortgage rates determined?
Rates change daily based on the economy, inflation, and bond markets — plus your credit score, loan type, down payment, property type and loan to value ratio.
Can I lock my interest rate — and for how long?
Yes. Locks are usually available for 15-30 days, sometimes longer. Locking protects you if rates rise while you’re closing.
What’s the difference between APR and interest rate?
The interest rate is what you pay to borrow the money. APR includes the rate plus most fees, so it shows the loan’s total cost over time.
How long does pre-approval take?
Often 24–48 hours during business days once we have your documents.
Will applying hurt my credit?
A single mortgage credit check has a small, temporary impact. Multiple checks for a mortgage within a short window are usually treated as one inquiry.
Can I get approved if I’m self-employed?
Yes. We review tax returns and business records to show stable income — and we’ll help present your finances clearly to the lender.
Can I qualify with bonuses or rental income?
Often yes, if the income is documented and consistent.
When does refinancing make sense?
It may make sense if you can lower your payment, shorten your loan term, remove mortgage insurance, or tap home equity.
How much does refinancing cost?
Refi costs are similar to purchase closing costs. We’ll show your break-even point so you can decide if it’s worth it.
What is title insurance, and why do I need it?
Title insurance protects you and your lender if someone later claims ownership or unpaid liens against your property. It helps cover legal costs and potential losses from past issues that weren’t discovered during the title search.
What does title insurance cover?
It typically covers problems such as unpaid taxes, fraud or forgery on past deeds, unknown heirs, recording errors, or undisclosed liens that existed before you purchased the home.
Do I pay for title insurance only once?
Yes. Title insurance is a one-time cost paid at closing time. There are no monthly premiums.
What’s the difference between lender’s and owner’s title insurance?
The lender’s policy protects the lender’s interest in the property.
The owner’s policy protects you. Lenders usually require their policy, and we strongly recommend the owner’s policy for your peace of mind.
What happens if the appraisal comes in low?
You may renegotiate, increase your down payment, or explore alternatives. We’ll help guide the strategy.
Do you work with first-time and repeat buyers?
Absolutely. We tailor guidance based on your experience level.
How do you protect my personal information?
We use secure systems and follow federal lending privacy standards.
Do you service my loan?
Prestige Capital Inc does not service loans. As a mortgage broker, we work with multiple lenders to help you find the best loan options — saving you time and money.
Can my loan be processed electronically?
We can process everything electronically except the final loan documents.