Your Mortgage Consultant
We make the home loan process as simple as possible by guiding you through every step.
109 Inverness Plaza
Character. Integrity. Hard working. Justin Drake (NMLSR# 110999) was taught by his father a long ago that if a person is lacking in any of those things, people will quickly lose faith in them. Justin’s motto is that as YOUR Mortgage Consultant his job is to get you in your new home, from start to finish, the easiest and quickest way possible while walking beside you every step of the way. Justin has been a Mortgage Consultant for 22 years and this experience has prepared him to take care of you with the dignity, attention and care that you deserve.
Justin has lived in the Birmingham area for nine years, moving from Baton Rouge, Louisiana where he worked as a Mortgage Consultant for 13 years. He grew up in Indiana where he completed his graduate and undergraduate work at Ball State University. He is the proud husband to Natalya and has a beautiful daughter Margo. He and his family are actively involved in international mission work and local volunteer work in church as well as city programs. His family is rounded out with two terribly spoiled pooches, Buddy and Pugola, and one cat named Jaboo.
I'm here to answer allyour mortgage questions
Do I need to save for a 20% down payment?
No! With FHA loans you can get approved for as little as 3.5% down, VA and USDA loans can offer you $0-down options, and with Private Mortgage Insurance (PMI) you can get into your new home with less than a 20% down payment. Whatever your situation, you have options.
Are Pre-Qualification and Pre-Approval the same thing?
No. Pre-qualification and pre-approval are two different things. Pre-qualification means that a mortgage lender has reviewed your financial records and believes you will qualify for a loan. A pre-approval is a conditional committment from a lender that they will lend you the money for a mortgage.
What's the difference between an adjustable and a fixed rate mortgage?
A fixed rate mortgage means that the interest rate is set when you take out the loan and will not change. With an adjustable rate mortgage, the interest rate may go up or down after a certain amount of time. Many adjustable rate mortgages will start at a lower interest rate than fixed rate mortgages.
What is Private Mortgage Insurance (PMI)?
Private Mortgage Insurance (PMI) is a type of insurance you may be required to pay if you are taking out a conventional mortgage with a downpayment that is less than 20% of the home's overall value. If you refinance your home with a conventional loan and your equity is less than 20% of the home's value, you may also be required to pay PMI. Private Mortgage Insurance protects the lender in the event that you stop making payments on your loan.
Can I access my home equity before I finish paying off my loan?
Yes! Your mortgage advisor can help you find the right refinance and reverse mortgage options to help you access your home equity before you've finished paying off your loan. This can help with covering the cost of remodels, college tuition, long-term care plans, and more! Talk to your mortgage advisor to find out how you can access your home equity to cover any of your life's needs.
What do I do if I can't afford my mortgage payment anymore?
The first thing you should do in the event that you can't afford your mortgage payments anymore is reach out to your lender. An experienced mortgage advisor can help you find options, such as refinancing or restructuring your loan, to help you keep up with your payments. Always reach out to your lender to ensure that you can keep up with your payments and stay in your home.
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