Better understand your mortgage options with answers to common questions.
Buildio Mortgage is a technology-driven mortgage platform that helps homebuyers and homeowners find and secure financing tailored to their unique financial situation. We partner with a wide network of lenders and use modern tools to streamline the mortgage process from start to finish.
We know that every homeowner’s story is different. That’s why Buildio Mortgage combines experienced professionals with intuitive tools to guide you from application to close with ease. Our partnerships with leading lenders help ensure you’re getting competitive options customized to your needs.
No, Buildio Mortgage does not service your loan. The lender you select during the application process will determine who services your loan after closing.
Buildio Mortgage currently offers home loans in numerous states across the U.S., and we're expanding regularly. Please check our eligibility map on our website or contact us to see if we currently serve your state.
Yes! Buildio Mortgage is free. We don’t charge you any fees, including application or processing fees from our lender partnes. You’ll only pay traditional closing costs and third-party fees if you move forward and close your loan with a lender.
After submitting your application, a licensed loan advisor will be assigned to guide you through the next steps. You can also schedule a call or chat with us online at any time during your process.
With one application, Buildio Mortgage allows you to compare multiple loan offers from top lenders. You can track your application and complete the entire process from a secure online dashboard, supported by expert guidance every step of the way.
Not initially. We use a soft credit pull during your initial application, which won’t impact your score. A hard credit pull is only done once you choose to proceed, and the impact is minimal.
Basic personal and financial details like income, employment status, and credit history. The application takes just a few minutes to complete.
Yes, Buildio’s technology enables a fully digital experience. But if you ever need help or prefer a personal touch, our advisors are always ready to step in and assist.
Our licensed mortgage experts are here to help! Reach out anytime via chat, email, or by scheduling a call.
Buildio Mortgage is for anyone looking to buy or refinance a home, whether you're a first-time homebuyer or a seasoned homeowner. Our flexible tools and expert support are designed to help you at every stage of the homeownership journey.
We work with a variety of lenders, some of whom offer options for borrowers with less-than-perfect credit. While most of our partners look for a credit score of 620 or above, we encourage you to apply and explore your options.
Yes! We understand self-employment comes with unique challenges, and we have lending partners that offer solutions tailored to self-employed borrowers.
Yes, we have lenders that offer mortgage solutions for non-citizens, including permanent residents and some visa holders. Reach out to discuss your eligibility.
We offer fixed-rate and adjustable-rate loans for a range of property types, including single-family homes, condos, and multi-family homes up to four units. Both purchase and refinance options are available.
Yes, Buildio Mortgage provides options for purchasing or refinancing investment properties, subject to lender criteria.
Yes, we work with lenders who offer government-backed FHA and VA loans, which may be ideal for qualified first-time buyers or veterans.
Yes, Buildio Mortgage offers second mortgages and home equity lines of credit (HELOCs).
Yes, depending on lender requirements, Buildio Mortgage can help finance eligible foreclosure or bank-owned property purchases.
Yes, refinancing homes held in LLCs is possible with some of our lending partners. Guidelines may vary, so speak with a loan advisor for specifics.
We leverage technology to match you with the most competitive offers from our network of lenders. By comparing multiple options, we help you secure a rate that fits your financial goals.
Yes, provided your application details are accurate and up to date, your final offer will typically match the quoted rate.
Your rate is determined by various factors including credit profile, down payment, debt-to-income ratio, property type, and current market trends.
Most monthly payments will include principal, interest, property taxes, and homeowners insurance. You’ll see a breakdown before closing.
This popular loan type features consistent monthly payments over a 30-year period, with a fixed interest rate from start to finish.
ARMs typically start with a lower fixed rate for a set period, then adjust annually based on the market. These loans can be a smart option if you plan to move or refinance within a few years.
Interest-only loans require only interest payments for the first few years. Afterward, they convert to traditional amortizing loans. These loans may suit specific short-term financing goals.
Locking your rate means Buildio Mortgage secures a specific interest rate on your behalf for a set period of time—regardless of market fluctuations. This gives you peace of mind as you finalize your loan details.
Yes, in many cases you can switch to a different loan product after locking. Your loan advisor will help you understand how this may impact your rate and approval timeline.
If you’ve locked your rate, it’s protected from rising rates during your lock period. This stability allows you to plan with confidence.
If your rate lock expires before closing, we’ll help you explore extension options. Many lenders allow extensions of 15 to 60 days, depending on your loan program.
We recommend locking your rate once you’re confident in your loan choice. Locking helps protect you from unexpected market changes while your application is processed.
Absolutely. Our online tools and expert advisors will help you estimate your buying power and get pre-approved quickly so you can shop with confidence.
Down payment requirements vary by loan type, but many buyers start with as little as 3%. You’ll also need funds for closing costs, which typically range from 2–5% of the purchase price.
No problem! Upload your contract during the application process and we’ll tailor our steps to meet your timeline and closing goals.
Yes, we offer financing options for eligible condos. Certain requirements may apply depending on location and type of building.
Yes, Buildio supports loans for second homes and investment properties. These loans may have different requirements for down payment and reserves.
Closing costs typically include third-party fees such as title insurance, appraisal, and taxes. Your advisor will provide a Loan Estimate outlining these costs early in the process.
Closing costs are paid at the time of closing, except for the appraisal fee which is typically collected upfront after locking your rate.
These are costs paid to external service providers such as appraisers, title companies, and local governments. Buildio Mortgage doesn’t mark up or profit from these fees.
We offer both Rate & Term and Cash Out refinancing options. Whether you're looking to lower your payment or access equity, we’ve got you covered.
Yes, condo refinancing is available through our network of lenders, subject to eligibility requirements for the building and occupancy type.
Yes, Buildio supports refinancing for second homes and investment properties. These loans may require higher credit scores or additional reserves.
Costs vary but generally include lender, title, appraisal, and recording fees. You’ll receive a detailed estimate early in the process.
The appraisal fee is collected upfront. All other fees are typically paid at closing.
We’ll work with your current lender to determine your payoff amount, which will be included in your final loan documents before closing.
A pre-approval letter shows how much you’re eligible to borrow based on your credit, income, and assets. It helps show sellers you’re a serious buyer.
Just complete our digital application and authorize a soft credit check. You’ll receive a letter within minutes if eligible.
Most pre-approvals are issued instantly. In some cases, our team may need to verify a few details before issuing your letter.
Yes! There’s no cost to apply or receive a pre-approval letter from Buildio Mortgage.
Only a soft credit check is required for pre-approval. A hard pull may be required later if you decide to proceed with a full application.
Yes. At Buildio Mortgage, we use bank-grade encryption and secure systems to keep your personal information safe throughout the entire loan process.
Yes, you’ll be paired with a dedicated loan advisor who will guide you every step of the way, from application to closing.
No, there’s no obligation when you get pre-approved. It simply gives you an estimate of what you can afford and helps you shop smarter.
We work to close most loans in as few as 14–21 days, depending on how quickly we receive your documents and appraisal.
An escrow account is used to manage your property taxes and insurance payments. Most of our loan programs require one.
No, escrow balances aren’t transferable. Your current lender will typically send you a refund after closing.
A higher credit score can help you qualify for better rates. But even with lower scores, Buildio offers flexible options to fit your profile.
Buildio doesn’t provide credit reports, but you can access free reports from each bureau at annualcreditreport.com.
Soft checks don’t impact your score and are used for pre-approvals. A hard check is done when you move forward with a full application.
If your report has errors, contact the credit bureaus directly. We can help guide you but can’t update your credit file.
We pull scores from the three major bureaus and use the middle score. For joint applications, we use the lower middle score.
An appraisal is an independent valuation of your property’s market worth. It helps determine how much the lender is willing to lend.
The appraisal protects you and the lender by ensuring the home is worth the price being paid or refinanced.
No. Appraisals must be ordered through our lender network to ensure compliance and accuracy.
An appraisal focuses on market value, while an inspection evaluates the home’s condition and systems.
The appraiser compares your property with recent sales in the area, factoring in condition, features, and upgrades.
Buildio partners with top lenders, who will assign a loan servicer to handle your monthly payments. You’ll receive instructions within 30 days of closing.
Your lender or servicer will send detailed payment instructions after closing—before your first due date.
Yes, most servicers allow you to enroll in auto-pay online or by phone once your account is established.
Contact us right away. We’ll work with your servicer to resolve any concerns and ensure a smooth transition.