Frequently Asked Questions

How much does it cost to work with a mortgage broker?

Working with a broker does not have to cost an arm and a leg. With no up-front fees and no hidden fees, you can be sure you get your money’s worth. We work with preferred lenders that offer low rates for you, compensating us only when deals finalize and our clients are happy.

How long does it take to get pre-approved?

A typical pre-approval usually only takes a couple of business days to one week in length.

What does a lender need from me?

In our relationships with our clients, we put together a specific list for each of them. In general, we look at employment history for the last two years and assets for the last two months. A few other things vary case-by-case.

Why not just go to a bank for a loan?

By working with a broker, you automatically gain access to a massive wholesale lending channel, looser underwriting guidelines, faster response times, and better customer service. We do most of the work for you, so you don’t have to.

How long will it take to get a loan?

Although transactions vary, a typical transaction will take 30 days from start to finish.

Is a hard credit inquiry required?

To get a rough idea of qualifications and rate options, we DO NOT require a credit check. However, in most cases, clients prefer to do it so there are no surprises later on in the process. In addition, a credit check that we run is valid for 120 days, and our lenders will renew it for you. 

Do I need to have a 700 FICO score to qualify?

In most cases, first-time homebuyers do not have the longest credit history and that is okay! Many banks have adjusted their first-time homebuyer loans to accommodate borrowers with FICO scores as low as 600.

Can I use my pre-approval to make an offer in other locations?

At this time AUE is licensed only in the state of CA and can help our clients all thoughought the state with any of their lending needs.

Can I leave an entry blank on my application?

Yes, since we are a top service mortgage lender that works for our clients and not for the banks, the loan application will be submitted to us. Then we will work with the clients to edit and finalize it to make sure it is 100% complete and ready to get approved!

Can I add co-signers?

In most cases the number of co-signers is unlimited, and we can analyze and recommend the best route to take for a full loan approval.