FREQUENTLY ASKED QUESTIONS
To start applying with Galaxy Mortgage, we recommend you have the following information on hand:
- A separate email address for each person that will be on the loan
- Your online banking username and password, or details about how much money is in each account you want us to consider for your approval (e.g., checking and savings accounts, retirement accounts, stocks and other assets)
- Your income and employer information
- Your Social Security number
You can get approved with a credit score as low as 580, as long as you meet our other eligibility criteria.
Keep in mind that the score we use might be slightly different from the one you get from your credit card company or other source. We use a FICO® Score, but educational sources might use a different credit scoring model, such as a VantageScore. For that reason, we still encourage you to qualify even if you think your score is slightly below 580.
In most cases, Galaxy Mortgage allows you to apply online without talking to anyone. However, there may be some situations in which you’ll need to chat with a Home Loan Expert, either online or by phone, to answer some questions.
Once your application is complete, we may need to call you while we’re working on finalizing your loan. We’ll use phone calls and emails to communicate important information about your appraisal, your closing and more.
You don’t need to pay out of pocket to close your refinance loan with Galaxy Mortgage. We’ll automatically roll all your closing costs into your loan to make refinancing more affordable.
There are a lot of factors that go into determining how much your loan costs. Things like the size and type of the loan, your credit score, and interest rates all play a role in determining how much you’ll pay to borrow the money.
The best way to figure out the cost of the loan is to apply and get a Loan Estimate. The Loan Estimate is a standard, government-required document that breaks down all the costs of your loan.
Galaxy Mortgage recommends loans you may be eligible for based on the information you provide. When you use Galaxy Mortgage to apply, you may see mortgage recommendations for FHA loans, VA loans, USDA loans and Non-Conforming income loans.
You can start your application with Galaxy Mortgage if you’re self-employed, but you won’t be able to do everything online. We’ll connect you with a Home Loan Expert along the way since we’ll have a few extra questions for you.
Applying with Galaxy Mortgage is free! There’s no cost to see your mortgage recommendations or get approved. However, if you decide to move forward with your loan, there are costs involved – just like with any other lender.
MORTGAGE LOAN SOLUTIONS
FHA loans offer affordable down payment options starting at 3.5% even if you don’t have perfect credit.
VA loans tailored for active duty and retired veterans will allow you to purchase a home with $0 down.
USDA RHS Mortgages
USDA loans are a great option for rural areas and also allow you to borrow up to 100% of the purchase price.
Non-Conforming Income Loans
Non-Conforming income loans allow self employed borrowers to easily qualify for a mortgage without providing tax returns.