QUESTIONS ABOUT USING US
What are the benefits of using Prime Emerald?
Prime Emerald Financial Services brings more than 20 lenders to your door step with one appointment. Further, you will be overwhelmed with the expertise and skills on offer. We work according to your convenience reaching out to you 24/7.
Are there any costs involved in using Prime Emerald?
There are no fees charged to the client by Prime Emerald Financial Services for the services provided.
What makes Prime Emerald different to other financial brokers?
Prime Emerald operates on creating long lasting relationships and we are not in business just to complete a transaction like other financial brokers. We work for you and not for the banks. Your goal and satisfaction is our goal and satisfaction. Throughout this journey, we will not always earn money from your needs, but we will take pride in your happiness and fulfilment.
QUESTIONS ABOUT MORTGAGES
What’s the difference between a Fixed Rate Mortgage and a Variable Rate Mortgage? Which one should I choose?
A Fixed Rate Mortgage gives you more control of your mortgage repayments as you lock in your interest rate for a set period of time generally ranging from 1 to 5 years. This is for those who prefer to have a consistent budget and have their financial commitments to remain the same on a month to month basis.
On the other hand, A Variable Rate Mortgage is where the interest rate fluctuates beyond your control and as a result your mortgage repayments changes accordingly. This is for those who want to take advantage of the appealing low interest rate market and to have the freedom of making any amount of additional repayments towards their mortgage.
Hence, there are advantages and disadvantages between a fixed rate and variable rate. The choice would depend on your personal financial situation and life style.
Is there any obligation to accept a home loan sourced by Prime Emerald?
There is no obligation to accept a home loan product recommended by Prime Emerald. We at Prime Emerald take due diligence and extreme care when recommending a solution for our clients.
After I apply for a loan, what should I expect?
When you submit your request to Prime Emerald, you can expect total transparency, being the loop with regular updates, best possible solutions, on time delivery and awesome customer service. Our goal is to delight you in every aspect and exceed your expectation.
QUESTIONS ON LOAN APPROVALS
What is a mortgage preapproval? Why is it important?
Mortgage Pre-approval is to check your ability to apply for a home loan, the amount you can borrow and the conditions you need to meet. Lending Institutions process pre-approval applications differently. However, this is vital to have the peace of mind knowing that your finance is in hand when you’re house hunting for your dream home. Usually Pre-approvals are valid for 3 months.
What if I already have a pre-approval from a bank?
No issues at all. We at Prime Emerald would evaluate your Pre-approval with your personal financial situation to check whether it is the suitable option for you. If the answer is yes, there is no need to change the bank and we will proceed towards full approval.
How long will it take to get my home loan approved?
On average to obtain a full approval for a home loan application it takes 10 business days. But, there are many occasions approvals are obtained within 5 days as well.
QUESTIONS ABOUT CLOSING
How long does the process take? When can I expect to close?
Typical time frame from the first appointment to loan approval to signing of loan documents is 15 business days.
