Innovative Mortgage Brokers

Category: Mortgage broker

Address: 9351 Banes St Unit B, Philadelphia, PA 19115, USA

Phone: +12153091757

Opening hours

Sunday: Closed

Monday: 8AM–9PM

Tuesday: 8AM–9PM

Wednesday: 8AM–9PM

Thursday: 8AM–9PM

Friday: 8AM–9PM

Saturday: 9AM–6PM

Reviews

Samuel Fernandez

Sep 13, 2022

Very positive experience, staff that guíe you through the process without frustration!

Jeff Pobirski

Sep 3, 2022

Yuri is very knowledgeable and very truthful. He always answers all your questions and helps to resolve any problems you have.

Cristhi Wilson

May 14, 2022

Yury and Innovative mortgage brokers assisted and helped me secure a lender with a good interested rate for my very first home. I am so happy I went with my gut and decided to give innovative Mortgage brokers a call. Yury went above and beyond, he always answered my calls, and responded to my e-mails right away. Yury is extremely knowledgeable, attentive, and guided me through every step of the way until the day of closing. The process of buying a home and securing a lender can be stressful, but Yury definitely made the process go smoother and definitely less stressful.

terence hussie

May 10, 2022

Yury exceeded ALL expectations. This is my first time buying a property and Yury has been there every step of the way. Professional, educational, honest service is what shines through to me. He was on top of everything and super responsive. Anything that I thought would be daunting or challenging Yury guided me through with expert precision. I’m very grateful to have his assistance going through this process for the first time. Anything I need in the future I will seek him out before even considering another source. I would recommend him to anyone. Magnificent experience.

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Questions & Answers

How much in mortgage payments can I afford?

Innovative Mortgage Brokers | Oct 17, 2022
Innovative Mortgage Brokers | Oct 17, 2022

There are multiple factors to consider, such as income and debt, but a good starting point is the 28/36 rule. This suggests that you should limit your housing expenses (including the mortgage payment, property taxes, mortgage insurance and homeowner’s insurance) to 28% of your gross monthly income, and limit all of your debt payments (including the mortgage payment) to 36% of your income. It's important to remember that these are general guidelines, not hard and fast rules - it's ultimately up to the individual’s borrowing strength, the lender and the program requirements.

What is the minimum credit score needed to get a mortgage?

Innovative Mortgage Brokers | Oct 17, 2022
Innovative Mortgage Brokers | Oct 17, 2022

Minimum Credit Score for a mortgage depends on the lender and the program. FHA loans for example require a score of 580+ for a minimum down payment loan, while conventional loan requirements range from 620+ The higher your score, the better chance you have of getting approved quickly and usually with lower interest rates or fees associated with the loan.

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