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Frequently Asked Questions




What credit score do I need?

This depends on the program you are looking for and other factors that determine what you loan program you qualify for and what best meets your needs.  In general though for conventional financing you need at least a 620 middle Fico Score, and for FHA in order to put the minimum of 3.5% down you need at least a 580.  FHA allows you to go down to as low as 500 with 10% down.   




How Much Money do I need to buy a house? 

This will depend on what programs you qualify for and which one is the best option for your needs. For an FHA loan you will need 3.5% of the purchase price as a down payment. Conventional Financing offers as little as 3% down but you will need stronger qualifications to qualify for this option.  There are some specialty programs that may also be a a good fit its best to speak with one of our Mortgage Loan Officers to dertermine the best fit for your needs. 


How much do your services cost?

As a mortgage broker we do not fund our own loans as a result our fee is generally paid for by the lenders that we place your loan with, we have a wide variety of lenders to get you the best deal for your needs with a great rate and terms based on your qualifications. 


Crossroads Financial Mortgage Inc. 450 Amwell Rd, Suite J-4, Hillsborough, NJ 08844
State of NJ - Department of Banking - Licensed Residential Mortgage Broker - NMLS ID No. 220376

As a mortgage broker, we arrange loans with third-party providers and cannot make any loan commitments or fund any mortgage loans.

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