Common Mortgage Questions Answered

The CPF Team
April 27, 2022

Figuring out the mortgage process can be confusing without the right mortgage broker. Here at CPF, we aim to take the confusion out of the equation in order to promise you the best mortgage rates possible. Below, Justin Kelly, CEO of CPF Mortgage, answers some of the most common questions from clients.

Q: What is your rate today?

A: Rates can change throughout the day so long as the market is open, but it also depends on your creditworthiness. So a lot of times we need to make sure that we're reviewing all of the income assets and credit upfront so that we're delivering an accurate flow to you.

Q: How much money do I need to put down?

A: One of the biggest misconceptions is you have to have 20% to put down in order to buy a home. And that just couldn't be further from the truth. There are several programs and products that borrowers can qualify for with minimal down payment. Another question we get from borrowers is, "What's the first step?" And really it's important to give us a call, have a conversation with our licensed loan originators and start the pre-approval process by letting us gather all of your documents and going through that CPF pre-underwrite.

Q: Why would I want to pull equity out of my house?

A: So we get this question a lot. And currently, historically, we've seen a housing boom, and there's homeowners that have purchased in the last few years and have a lot of equity at their disposal. The only way for them to access that is either to sell their home or do a cash-out refinance. And that cash-out can be used to consolidate high-interest credit cards, personal loans, boat loans, car loans, or you can use that to renovate your home or for improvements on the house. So cash out can be used effectively.

Q: Why should I use a local mortgage company?

A: Quite honestly, we have a knowledge of the local market. We have relationships out in the marketplace and people know our reputation. There's something to be said for people who live and work right alongside you and have an intimate knowledge of the market that you're gonna be purchasing in. Another big question we get is, "Do I need to come in person to apply for a mortgage?" And absolutely not. We have a completely digital process on our website. You can apply and upload all of your documents that we need to review and get the process started without coming in person at all.

Q: Why should I get a pre-underwrite?

A: With a pre-underwrite, you can be more confident that your loan is going to close and it's gonna close on time. The CPF pre-underwrite is a major benefit, especially in this competitive environment we're in. Because we are doing all the work upfront, validating all the income assets and credit. Our turn time to close your loan is much faster than the industry average. Right now we're about 15 days or less. We have a super high pull-through ratio on our pre-approvals because of that thorough upfront process.

Q: How do I know how much I qualify for?

A: This goes back to making sure that your income assets and credit are reviewed thoroughly up front. At CPF mortgage, we have our CPF pre underwrite. So we review and ask for all the documentation that an underwriter is going to request to approve your loan. We review it all upfront and then deliver you an accurate amount that you qualify for, that way you can go out with confidence.

Any Other Questions

There are plenty of other questions to be had when it comes to the mortgage process, but these are just a few of the most commonly asked. If you have any other questions, please do not hesitate to reach out to our team via phone at (727) 226-1040 or email Justin directly at We will work quickly to answer your questions and resolve any issues with a personalized approach, exclusively tailored to your needs.

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10710 FL-54 c101, Trinity, FL 34655
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State of Florida, Colorado, Georgia and Tennessee.
NMLS #222883
Christopher Paul Financial, LLC dba CPF Mortgage is a Florida mortgage lender NMLS 222883, Florida state license MLD929, Colorado registered mortgage company NMLS 222883, licensed Tennessee mortgage lender NMLS 222883, and Georgia Residential Mortgage Licensee NMLS 222883. The main office is located at 10710 State Road 54, Ste. C101, Trinity, FL 34655. All loan approvals are credit driven, and all decisions are based on underwriting credit approvals. All rates, terms, and programs are subject to change without notice. Borrowers should consider their options carefully when choosing a loan program.
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