Frequently Asked Questions
Find answers here to frequently asked questions about many Autopilot house loans.
Is AutoHouseLoans.com a lender?
No. AutoHouseLoans.com is not a lender and does not provide home loans or mortgages. This site acts as a reference provider to a network of lenders from around the country who are licensed and qualified to offer home loan and home mortgage products.Is this site only for airline pilots?
No. Anyone is free to use this site to receive qualified quotes from our network of lenders no matter their profession or association.What If I have bad credit?
If you have bad credit and are looking for a home loan, the best advice would be to work to improve your credit before applying for a loan. For instance, full repayment within the terms of your agreement on a recent auto loan will help your credit. There are lenders available who work with those that have less-than-perfect credit, but the tradeoff is that they are likely to charge significantly higher interest rates for the loan which can bring a substantial cost uptick over the life of the loan, meaning thousands of dollars out of your pocket.What are the requirements to get a loan?
Different lenders have different products for their various loan offerings. Generally speaking, in order to qualify for a home loan you must be:- 18 years of age
- Gainfully employed for at least one year
- Free of serious credit issues such as numerous collections accounts
- Possess a legitimate social security number
- Have money for a down payment or qualify for a 0% down loan such as FHA or VA
Is my information secure?
This site uses the latest in Internet encryption technology to make sure that your information is encrypted and secure from prying eyes before it leaves our server and is transmitted to our network of lenders.Can I get a government loan?
Government-backed loans such as FHA and VA loans are available through most of the lenders you can receive quotes from through this site. Be sure to indicate if this is your preference and speak with a representative for more information on the limitations, restrictions and qualifying factors for receiving that type of loan from them.What is PMI?
PMI stands for Private Mortgage Insurance and it is usually added on to government-backed loans where the down payment for the home is less than 20% of the value of the home. This PMI will have to be paid every month (usually as part of the mortgage), until the home's equity reaches 20% or greater at which time the home owner can ask that the insurance be dropped.
