Loan resources made with you in mind.

Mortgage Rates & More!

We get it. Finding the right home loan and navigating the mortgage process can seem overwhelming. That's where we come in!


Here on our Resources page, you'll find the answers to some of the most common questions we receive, see up-to-date mortgage rates, as well get access to some of our most helpful mortgage tools!

***Please note that the rates outlined above serve as general indicators and do not constitute a precise quotation. The accuracy of an actual mortgage quote can be influenced by a myriad of factors, totaling more than 40 in number. For a tailored quote that aligns with your unique circumstances, I encourage you to reach out to me directly. Through this communication, we can customize the quote to suit your specific needs.***


OBMMI™ offers an unparalleled analysis of pricing within the mortgage industry, characterized by its comprehensiveness, accuracy, timeliness, and interactivity. Derived from real locked rates obtained from consumers in approximately 42% of all mortgage transactions nationwide, OBMMI encompasses various mortgage pricing indices tailored around popular mortgage products and specific borrower attributes. This allows for customizable tracking of rate trends over time.

Items Needed for
Pre-Approval

  • W2s from the last two years 
  • 1040 Federal Tax Returns from the last two years (all pages) 
  • If you are a business owner, you will need business tax returns and K1s 
  • 2 most recent paystubs 
  • 2 months of recent statements for all assets (checking, savings, money market, retirement, etc.) 
  • Driver’s license or passport 
  • Other documentation may include: offer letter for employment, school transcripts, social security or pension award letters, divorce decree, bankruptcy papers, short sale documentation. 

Calculate Your Monthly Payments

Want to calculate your monthly mortgage? Need to know if now is the right time to buy? Check out our calculators, tools, and interactive videos below to learn more. And as always, reach out to us at the Gerhardson Team if you have any questions!

Common Questions

If you have questions that aren't covered here, don't hesitate to reach out to us. Our team is dedicated to providing you with comprehensive information and support throughout your mortgage journey. Your inquiries are always welcome!

  • Do we need to provide all of our information to get a rate quote?

    We can make assumptions but prefer not to since once we get your information it can change. There are over 25 different variables that go into the rate. Top variables are credit score, loan amount, loan compared to value, occupancy, and how much or if you want to pay what is called “discount points” to buy the rate down.

  • Do you guys do a hard credit pull/inquiry?

    Not always. If you are just looking for a pre-qualification and not a full pre-approval, we can pull a soft credit pull with absolutely no impact to your credit. When you choose to move forward with a full application or want a  pre-approval, then we will ask your permission to do a hard credit pull.

  • How long is a preapproval good for?

    Preapproval is good for 120 days.  After that, information will have to get refreshed to extend that time.

  • How long does it take to get pre-approved?

    Preapproval can get done as quickly as one day or may take up to a week depending on how long it takes to receive your required information. 

  • What are the closing costs?

    The closing costs are mostly fixed costs associated with getting the loan. In addition, there are some variable items to set up escrow to pay for taxes and insurance at closing. Also, potential points to buy down a better interest rate or lender credit for a higher rate.  General rule of thumb of 3% of the purchase price can be a good gauge for homes in the $275K to $375K range. 

  • Who do I pay and when?

    Inspections will have to be paid at the time of the inspection. Earnest money is usually paid at the time that your offer is accepted. Sometimes appraisals are paid at the time of the appraisal (other times it will be collected at closing). The remaining items are paid at closing. 

  • When is my first payment?

    Typically, 30-60 days from closing.  Due on the 1st of each month with a 15 day grace period.

Don't know exactly where to start? We got you.

The mortgage loan process can seem complex, but we're here to help. The Gerhardson Team wants to ensure that you feel educated and secure during the entire home loan process. That's why we're providing you a resource packet that outlines the steps you'll take with Luminate and The Gerhardson Team as you work towards your mortgage loan.


And the best part? It's free for you to download any time! Simply input your info below to get access.

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