Here are some answers to some frequently-asked
mortgage services questions. Feel free to email us if you have a specific question not addressed herein:
Q: Won't
shopping around for the best mortgage rates result in my FICO score being in jeopardy of dropping?
A: Under some circumstances,
multiple inquiries made to your credit file can have a negative effect. Try to keep them to a minimum. Get a copy of
your credit report and share your FICO score to get a quote before authorizing your credit report to be pulled. This
is why utilizing this site is a smart move.
Q: Are the loans your site refers to tax-deductible?
A: Loans secured by your home are, in most cases. This is actually a question for your tax consultant. However, as a
general rule, mortgage interest is deductible on your tax return. Be sure to confirm before signing loan documents that you
will receive a 1098 form at the end of the year for your tax preparer.
Q: What am I to expect to pay upfront?
A: Generally nothing, as most finance charges are built into the loan already. One exception may be the fee for an appraisal.
This may be your only out-of-pocket expense if so required.
Q: Why should I use this site?
A: It's FREE. You discover what is available to you without filling out multiple applications and risking numerous
credit inquiries. It's fast, and convenient. This site has been in operation since 1997 with thousands of satisfied users
and zero complaints. And many programs not available elsewhere can be found right here.
Q: I didn't see an answer to the question I had in mind.
A: Please email your question to
arcmortgage@yahoo.com and an advisor will promtly respond (please allow 24-48 hours).
