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The Yi Team Mortgage

Mortgage Experts in Rockville, MD

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    • Apply With Chong Yi, NMLS #198732
    • Apply With Derek Harman, NMLS #882287
    • Apply With Erin Finke, NMLS #536279
    • Apply With John Walowac, NMLS #1414681
    • Apply with Jon Ingram, NMLS #1076922
    • Apply With Justin Kraeger, NMLS #2081169
    • Apply With Pegah Bozorgnia, NMLS #910362
    • Apply with Christa Fitch, NMLS #1792406
    • More About Each Mortgage Advisor

Mortgage 101

Welcome to Mortgage 101. We help home buyers and realtors understand home loans. You’re in the right place if you’re thinking of buying your first home, if you’re moving to your next home, or you’re ready to refinance your existing loan.

Where do I start my mortgage??

Where Do I Start?

Figure out the finances first so you know how much house you can afford. [read more]

    What Is A Credit Score?

    What is a CREDIT SCORE?

    A Credit Score is a numerical grade that shows how reliably you pay your bills. [read more]

      What is included in the mortgage payment?

      What Is Included?

      A mortgage payment typically includes the loan principle and interest, taxes and insurance. [read more]

        What is a mortgage?

        What is a MORTGAGE?

        A Mortgage is a home loan that you borrow in order to purchase real estate. [read more]

          Introduction to Mortgage 101

          Introduction to Mortgage 101

          Welcome to Mortgage 101! You’ll find the answers to our most FAQ! [read more]

            Prequalify or Pre Approval, What's the difference?

            PRE-QUALIFY vs PRE-APPROVAL

            Pre-Qualify is an informal conversation about potential loan options. Pre-Approval is a formal review for loan approval. [read more]

              What is loan pre approval?

              What is LOAN PRE-APPROVAL?

              Pre-Approval is the formal review of your documents for you to acquire a home loan or mortgage. [read more]

                What Documents Do I Need?

                Your lender uses a list of documents to determine how much money you qualify for and each loan requires different documents. [read more]

                  What is Mortgage Insurance?

                  What is MORTGAGE INSURANCE?

                  Mortgage Insurance is a policy that protects the lender in the event that the homeowner defaults on their home loan. [read more]

                    What is a HOME APPRAISAL?

                    A Home Appraisal is an expert opinion of the value of a home by a licensed appraiser. [read more]

                      What is loan forbearance?

                      What is LOAN FORBEARANCE?

                      Loan Forbearance is an agreement between a borrower and loan servicer to delay monthly mortgage payments. [read more]

                        What determines an interest rate?

                        What Determines Interest Rates?

                        Interest Rates are affected by many factors: current market rate, your credit score, down payment… [read more]

                          What is debt to income ration?

                          What is DEBT TO INCOME RATIO?

                          Debt to Income Ratio, or DTI, is a percentage that lenders use to determine lending risk. [read more]

                            What is Hazard Insurance?

                            What is HAZARD INSURANCE?

                            Homeowners Insurance (or Hazard Insurance) a policy protecting a home owner and property from a catastrophic event. [read more]

                              What are gift funds?

                              What are GIFT FUNDS?

                              Gift Funds are any type of no-strings-attached asset that is gifted to you in the home buying process by a relative or friend. [read more]

                                CONTACT US

                                Chong Yi, CMPS
                                Producing Branch Manager
                                Apex Home Loans
                                NMLS #198732
                                240-763-1101
                                chong@theyiteam.com
                                15245 Shady Grove Road, Suite 430
                                Rockville, MD 20850

                                 

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                                © 2022 Apex Home Loans, Inc. NMLS #2884. For more information regarding licensing for all states in which Apex is licensed, please visit the NMLS Consumer Access Website at https://nmlsconsumeraccess.org. Licensing information as required by GA & NJ: Licensed as a Mortgage Lender by the GA Department of Banking & Finance (61858); Licensed by the State of NJ Department of Banking and Insurance as a Residential Mortgage Lender (2884)