Huy Nguyen Your Expert Mortgage Broker in Lynnwood, WA

Frequently Asked Questions

Get answers to your most common questions.

• How much home can I afford?

  Your affordability depends on various factors like income, credit score, existing debts, and your down payment capability. Through our loan pre-approval process, we analyze your financial situation to determine your price range.

• What is a down payment, and how much do I need?

  A down payment is your initial payment when buying a home, typically a percentage of the purchase price. We'll explore your options, including low down payment programs, during the pre-approval process.

• What is a pre-approval, and why do I need it?

  Pre-approval is a lender's preliminary commitment to you, indicating your borrowing capacity. It's crucial for budgeting and making your offer more appealing to sellers.

• What types of mortgages are available, and which one is right for me?

  We offer various mortgage options, including fixed-rate, adjustable-rate, and government-backed loans. We'll find the best fit for your needs and financial situation.

• What is mortgage interest, and how does it work?

  Mortgage interest is the cost of borrowing money for your home. It influences your monthly payments and the overall cost of your loan.

• How does the mortgage application process work?

  The mortgage application process involves gathering documentation, completing forms, and undergoing credit and financial assessments. We guide you through each step to meet all lender requirements.

• What are closing costs, and how much should I budget for them?

  Closing costs are fees associated with finalizing your real estate transaction. We provide a detailed breakdown of these costs to help you budget effectively.

• What is private mortgage insurance (PMI), and do I need it?

  PMI is typically required when your down payment is less than 20% on conventional loan products. We'll explore options to minimize or avoid PMI

• How long does the homebuying process take?

  The timeline varies, usually taking a few weeks to a couple of months from the initial offer to closing. We work diligently to expedite the process while ensuring all necessary steps are completed.

• What are property taxes and homeowner's insurance, and how do they affect my monthly expenses?

  Property taxes and homeowner's insurance are ongoing costs of homeownership. We assist in estimating these expenses and incorporating them into your budget planning.

Reviews

David Kim

First Time Home Buyer

"Huy and his team are amazing. You owe it to your self to speak with them. Their ability and customer service is above and beyond. They are transparent and go the extra mile for you every time. Give them a call. I promise, you will not be sorry. And of course.... thank you so much Huy and his team. This closing would not have been possible without your help. I can not thank you enough. THANK YOU!!!! I would give you 100 stars if I can”

Kevin Ha

Seattle Home Owner

"Huy Nguyen and team go above and beyond in providing exceptional care for their customers. Huy also has a specialty with first-time homebuyers (although experienced homebuyers would benefit with Huy too!), and it shows in his considerate approach to explaining processes. With Huy you can believe in a customer-first mindset, a trustworthy team, and friendly + reliable communications. Home buying can be a difficult and big process, and Huy makes it easy and fun.I would strongly recommend Huy to family and friends, and was recommended Huy from my family as well. Thank you Huy!!”

Hali Deters

First Time Home Buyer

“I am a first time homebuyer with minimal knowledge on the process. Huy was responsive, helpful, and thorough. He helped me through the entire process, explaining things every step of the way. I really appreciate the dedication he has to what he does. Highly recommend!”