Frequently Asked Questions
Welcome to our page designed to help you weed out all those variable questions before you decide to move forward. The Z Mortgage team is dedicated to delivering the best quality customer service to all of our current and prosepective clients.
How will the payment of real estate taxes and homeowner’s insurance be handled?
The amount required to pay the real estate taxes and homeowner’s insurance premium when due will be included in your house payment. The Z Mortgage Team will then be responsible for paying those bills when they are received.
Where will the settlement take place?
Settlement generally occurs at the office of a title company or closing attorney. The closing agent will coordinate the closing to accommodate the schedules of the parties involved.
Will the property be appraised?
Yes, in most cases. The appraisal of the home will be made after the seller accepts your offer.
Will the closing agent accept my personal check for the down payment and closing costs?
No. The closing agent is required to collect funds in the form of a certified or cashiers check payable to the title company.
How much insurance coverage do I need for a homeowner’s insurance policy?
At the time of closing on a purchase, homeowner’s insurance is required to cover the loan amount at a minimum. A paid receipt for the first-year premium is required at closing or the closing agent will collect the premium. This insurance covers the structure and contents of the home.
Is a property survey required when I purchase a home?
A property survey is required for all property transactions except in the states of Arizona, California, and Hawaii, which are known as “plat states.” The plat, which is a drawing of the boundaries, is provided by the title company.
Why is The Z Mortgage Team my best choice for a lender when buying a home?
The Z Mortgage Team knows the mortgage industry. We have a 8-year history of helping people realize their dream of homeownership. We have home loan products and programs for every need, with a special focus on first-time homebuyers and customers who require expertise and specialized services to finance or refinance homes. Most importantly, The Z Mortgage Team puts the customer first. To learn more about The Z Mortgage Team, visit our About Us page.
How much will it cost for me to get a loan and buy a home?
Down payment requirements vary by loan type, and closing costs vary by state and according to the amount borrowed. Check with The Z Mortgage Team to determine your specific needs. You can speak with The Z Mortgage Team on the phone by calling 801.550.1796.
I am a veteran, are there special programs for me?
Yes. The Department of Veterans Affairs (VA) has programs that offer no-money-down loans to qualifying veterans. Check with The Z Mortgage Team to determine if you qualify.Our Learn About Available Loans section provides helpful information concerning the loan programs available from The Z Mortgage Team.