Frequently Asked Questions
MORTGAGE
What’s the difference between getting a mortgage through a broker vs. a bank?
A bank only offers its own loan products, while a mortgage broker like Rock Financial shops multiple lenders to find the best rate and terms for your situation—often saving you money.
How long does it take to get pre-approved for a home loan?
Most clients receive pre-approval in 24–48 hours once we have your income, credit, and basic financial information.
What type of home loans do you offer in Texas?
We offer Conventional, FHA, VA, and Jumbo loans. We also offer loans to help you purchase a home, or refinance your current home to lower your monthly payment or access the equity (aka cash value) in your home.
Do you offer Down Payment assistance?
Yes, many of the lenders we work with offer Down Payment Assistance (DPA) programs. Our knowledgeable team can walk you through what options are best for your specific situation.
HOME INSURANCE
Why do I need home insurance to buy a house?
Lenders require home insurance to protect the property against losses from events like fire, storm damage, or theft.
What does a standard homeowners policy cover?
Most policies cover your home structure, personal belongings, and liability if someone is injured on your property. Optional add-ons can cover floods or high-value items..
How can I lower my home insurance premium?
Bundling with auto insurance, installing security systems, and maintaining a good claims history can help reduce costs.
What should I look for when comparing home insurance quotes?
Coverages can vary from one quote to another, so don’t just look at the over cost (aka premiums) of the policy. Check for how much the insurance company will pay to rebuild your home in the event it is a total loss. Wind and Hail damage to roofs is especially common here in Texas, so check to see how much they will pay in the event you need a new roof, and how much you will have to pay via your deductible.
LIFE INSURANCE
What’s the difference between term life and whole life insurance?
Termlife provides coverage for a set period (10–30 years) at a lower cost, while whole life lasts your entire life and builds cash value. With term insurance, once the term period is over you will either need to renew (usually at a higher cost) or choose to surrender the policy. With whole life, once the total premiums are paid in full, you own the policy for the remainder of your life.
How much life insurance do I need?
Rather than just picking a random number, we advise clients to make a list of what they want their life insurance to accomplish once they pass away. Paying off debts, funding college for kids or grandkids, and replacing income are some common uses for life insurance.
Can life insurance pay off my mortgage?
Yes! Many clients use life insurance to ensure their home is paid off and their family’s lifestyle is protected. .
Do I need to provide a bunch of personal information or take a medical exam to get a quote?
No. Many life insurance companies offer approval without having to do a medical exam. And our quoting process is short and does not require any personal information other than your age to get a quote and see options.