| Frequently
Asked Questions |
What
will your service cost me? |
| Our
service is free of charge. |
|
PowerBond is a Mortgage Originator, what does this
mean? |
|
A Mortgage Originator offers a service to the home
buyer whereby they will assist you in your home
loan application. The originator will have a contract
with one or more banks, from which they receive
a fee. |
|
Does the fee earned by PowerBond mean that I will
incur hidden costs? |
|
No. There are no hidden costs. In fact, PowerBond
will even discount your attorney's bond registration
fees for you. Click here
to see what you'll save. |
|
By using PowerBond's services, will I automatically
obtain a lower interest rate? |
|
In most cases yes. Our professional motivation and
negotiation with the banks on your behalf allows
us to secure you the best possible rate. |
|
Once my application is submitted, how long does
it take for approval? |
|
You should receive confirmation within 48 hours.
|
|
What is the difference between "Approval in
Principle" and "Final Grant"? |
| The
Bank will approve your loan based on your supporting
documentation submitted and on your credit history.
Final Grant is awarded once the property valuation
has been completed. |
