Dan Campanella

Professional Mortgage Specialist

Dan Can Help You With...

Residential Mortgages

Liquidity Loans

Solutions by Occupation

 
Dan Campanella
Mortgage Consultant

Proven Experience and Outstanding Service

Dan provides clients with years of proven experience and an abundance of financing options for their mortgages. His common sense approach and devotion to customer service is what sets him apart in the highly competitive mortgage industry. Dan prides himself on consistently delivering “referable services” to his clients, referral sources, and partners.

How Best To Use Your Assets to Maximize Your Buying Power

What is a Conventional Mortgage?

Some Frequently Asked Mortgage Questions...

How do you qualify for a loan?

The idea of meeting with a lender can be intimidating, especially if you’re buying your first home. After all, this is probably the biggest purchase you’ll ever make!

Take a deep breath and relax—you don’t have to be stressed. Think of your first meeting with a lender as a get-to-know-you session. They’ll simply want to learn a few basics about you and your financial situation.

Then comes the paperwork! Once your loan process gets started, be prepared to provide proof of:

  • Where you work
  • Your income
  • Any debt you have
  • Your assets
  • How much you plan to put down on your home

A good lender will clearly explain your mortgage options and answer all your questions so you feel confident in your decision. 

What’s the difference between being prequalified and preapproved?

A quick conversation with your lender about your income, assets and down payment is all it takes to get prequalified. But if you want to get preapproved, your lender will need to verify your financial information and submit your loan for preliminary underwriting. A preapproval takes a little more time and documentation, but it also carries a lot more weight.

A preapproval takes a little more time and documentation, but it also carries a lot more weight.

Which is better? Think of prequalification as an initial step and preapproval as the green light signaling that you’re ready to start your home search. When sellers review your offer, a preapproval means you’re a serious buyer whose lender has already started the loan process.

How do interest rates affect your mortgage?

High interest rates bring higher monthly payments and increase the overall interest you’ll pay over the life of your loan. A low interest rate saves you money in both the short and long term.

Of course, just like you can’t time the stock market, it’s nearly impossible to time your home purchase with the best interest rates. The past five years have held some of the most affordable interest rates ever, according to the Federal Home Loan Mortgage Corporation, and their recent forecast predicts the trend will continue.1

It may be hard to time your home purchase with the best interest rates, but there are things you can do to get a lower rate. For example, a benefit of the 15-year, fixed mortgage is that it has a lower interest rate than a 30-year, fixed mortgage. Sometimes a bigger down payment can also help you get a better interest rate.

The money you pay in interest doesn’t ever go toward paying off the principal balance of your home. That’s why it’s a smart move to get a low interest rate on your mortgage and then pay off your house as quickly as you can.

Tips, Trends, & News!

Do You Really Need a 20% Down Payment for a Mortgage?…

Do You Really Need a 20% Down Payment for a Mortgage?…

Owning a home is a dream for many, but a major stumbling block for potential homebuyers is coming up with a substantial down payment. The conventional wisdom has long been that a 20% down payment is necessary to secure a mortgage. However, is this really the case? In...

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