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FAQ

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How do I know Vantage can deliver competitive rates?
We train all of our Loan Officers, so that they know the key questions to ask, and the information that our lending affiliates need to know. All of our lending affiliates share Vantages "key three values": trustworthy, straightforward and service-oriented. That's why Vantage can promise competitive rates and deliver competitive rates.
Who is eligible for loans?
The quick answer is U.S. Citizens, Permanent Residents as defined under Section 201F and Non-permanent Residents as defined under Section 201F with a two year or more work history. The thorough answer is that the process of planning financial well-being starts with communication. We need to speak with you to find out your specific situation and needs.
I'm self-employed. How can Vantage verify my income?
In the economy of the 21st Century, more people are opting to be self-employed. As a modern company, Vantage has several solutions for our clients who choose self-employment. An objective third party, like a CPA, can verify your income. Supporting documentation for self-employment can be a copy of a business license, or it can even be a Yellow Pages ad for your business. Give us a call to find out more.

My credit history isn't great. Should I start to worry?
With Vantage, you never need to worry. Our expertise gives us information to help, and we know that a credit history is just one part of your financial history. Generally, a 24-month credit history is needed with three major credit cards. However, some lending affiliates may allow gift funds to go toward assets, and this could offset a poor credit history. You may not know that, but we do. We also have other solutions to credit history issues.

Should I get an interest only loan?
An interest only loan, as the name applies, means that the lender pays only interest on the money borrowed with no reduction to the principle. Generally, the principle is paid in full at the end of the loan's term or refinanced. However, we say it often at Vantage because it's true, until we speak with you, we won't know if an interest only loan is your best finance fit.

What's the difference between a fixed rate and adjustable rate mortgage (ARM) loan?
A fixed rate loan is set for the entire term of the loan. An adjustable rate mortgage loan is a function of interest rates and adjusted accordingly. Again, it sounds simple. But until you speak with a Vantage debt management specialist, it's a choice that requires experienced insight on which works for you.

What's a stated income loan?
A stated income loan streamlines the loan evaluation process by allowing income to be stated first as opposed to waiting until all supporting documentation is processed before beginning your loan review. A stated loan calls for a broker who has trusted relationships with their lending affiliates, since initially, it is the broker's word on which the lender is relying. It also requires a broker who is straight forward, who knows the support documentation that's necessary as well as unnecessary. There are more beneficial aspects to a stated loan, and Vantage has relationships with several affiliates who offer this type of loan. We'll be glad to answer your questions.

Do I need mortgage insurance?
Many loans require mortgage insurance. The purpose of mortgage insurance is two fold: (a) it guarantees that should anything happen to the borrower the loan will be paid, and (b) the property on which the loan is taken will not be foreclosed to collect on the loan. As part of the Vantage Point loan process, our Loan Officers automatically secure the proper mortgage insurance if it is needed.

Office Hours: Monday - Friday 9am -6pm

Vantage Mortgage * 6851 Jericho Turnpike* Syosset, NY* US * 11791