About LeapFrog Mortgage
WhO is Leapfrog Mortgage?
Our story begins in 1928 as a Savings & Loans in Georgia. Today, LeapFrog Mortgage represents a multi-state initiative that is fresh and relevant in a fast-moving financial world. It’s our way of highlighting our dedication to serve both new and experienced homeowners.
WHERE IS leapfrog mortgage available?
- Georgia
- Florida
- Tennessee
- North Carolina
- South Carolina
WHAT ARE THE HOURS OF OPERATION?
Our client services representatives are available at 770-385-3574 from 8 am – 5 pm EST Monday – Friday Eastern Time.
Where are you located?
Our headquarters are located at 400 Galleria Parkway SE, Suite 900, Atlanta, GA 30339.
What is the Contact Information?
Please call us at 770-385-3574 or email us at funding@leapfrogmortgage.com.
What are the Holidays observed?
- New Year’s Day
- Martin Luther King, Jr. Day
- Memorial Day
- Juneteenth
- Independence Day
- Labor Day
- Columbus Day
- Veterans’ Day
- Thanksgiving Day
- Christmas Day
Why are your rates so competitive?
By eliminating branch offices and leveraging technology, LeapFrog Mortgage keeps operating costs low and talk up by earning referrals with good service.
WhAT IS THE FDIC CERTIFICATE NUMBER?
#29510
About Rates & How It Works
What are thE requirements to get a loan with leapfrog mortgage?
- Consistent Income
- Verifiable Assets — Most programs require Down Payments of 3 -5 % of purchase price
- Credit Score from all 3 bureau agencies — Most programs require 620 or better score
What kind of home can i use leapfrog mortgage to get loan for?
- Single-Family Home
- Townhouses
- Condos
- Multifamily Homes
- Second Homes
- Investment Homes
What credit score do i need to get approved?
How is my home rate determined?
What is the difference between my interest rate and my annual percentage rate (APR)?
The interest rate is the rate of interest charged on a home loan and can be fixed or variable (adjustable), depending on which loan you choose.
The APR is a measure of the cost to you for borrowing money. The APR includes your interest rate, points, fees, and other charges associated with your loan – that’s why it’s usually higher than your interest rate.
How will applying with leapfrog mortgage affect my credit?
When you apply for a mortgage, it is necessary to check your credit to determine whether to approve you. This triggers a hard credit inquiry, which can temporarily lower your credit score by a few points. If you are shopping for a mortgage, multiple inquiries should not hurt your score.
What is rate lock?
When should i lock my rate?
What documents do you need to process your loan application?
- Government issued photo identification and Social Security card.
- Address(es) for the past two years.
- Employment (past and present) for the past two years. We’ll need name(s) and address of each employer along with more information on any gap in employment.
- Income for the past two years. The fastest way to do this is to provide your last two tax returns along with copies of your pay stubs from the past two months.
- All money-related assets. You may be asked to provide the last two or three months’ statements from all checking accounts, savings accounts, money market, IRA, mutual fund and brokerage (stock) accounts.
- All debts.
Once you provide consent, LeapFrog Mortgage will pull a credit report for each borrower to reveal the information we need on credit card debt, installment loans (like student loans), car loans and your current mortgage or home equity loans if you’re refinancing, the Sales Contract. For purchase transactions, LeapFrog Mortgage will need a copy of your original purchase agreement.
For specific situations: Business returns for borrowers that own more than 20% of a business & Proof of VA eligibility, if you are applying for a VA loan.
What does it take to get approved for a home loan?
Every situation is different, but when we review your home loan application, we look at your:
Credit score: This is determined by things like payment history and how long you’ve had credit. We’ll use this number to figure out how likely you are to pay back your loan and what interest rate you’ll get.
Debt-to-income ratio: This percentage is your total monthly expenses divided by your gross monthly income.
Down payment: This is the amount paid up front when you purchase a home and isn’t part of the loan. The higher the down payment, the less risky you seem to a lender — which could mean a lower interest rate, too.
Employment history: We want to make sure you’ll be able to afford your home, so proof of income is important.
About Loans
What is the difference between a fixed rate loan and an adjustable rate loan?
What is a loan estimate?
What are closing cost?
How much do i need for a down payment?
This amount depends on the type of loan you choose — but the higher the down payment, the less risky you seem to a lender. It’s ideal to put down 20% of the home price, but you should speak with one of our loan experts to see what your options are. If your down payment is less than 20% of the home price, you may be required to pay private mortgage insurance.
What if i need additional time to close on my loan?
What are the down payment options?
Options for Veterans: Veterans Administration loans (VA loans) are designed to help Veterans obtain financing at very reasonable rates and offer financing up to 100% of the home’s value.¹ This means that a qualified Veteran, spouse or active-duty military member could buy without having to make a down payment.
Government Loan Options: The Federal Housing Administration (FHA) was created to help middle- to lower-income buyers secure home loans. The FHA doesn’t actually lend the money; instead, it insures the loan. The FHA requires down payments as low as 3.5% and accepts a wide range of credit scores.
About LeapFrog Mortgage Account
What is a leapfrog mortgage account and why do i need one?
LeapFrog Mortgage Account makes for a better, more seamless experience. Gain access to our entire quite of tools, fill out forms with your prepopulated infromation, get timely recommendations, access loan infomation and documents securely, connect with your lender team
How do i reset my password?
If you need to reset your password:
• Navigate to Borrower Wallet® + enter the email
associated with the account.
• Click “Next”
• Click “Forgot Password”
• Re-enter your email address + click “Submit”
Check your inbox for a password-reset link. Click the link to create your new password and log in
What is a multi-factor authentication (MFA) passcode and how do i get mine?
What do I do if the login page is unresponsive?
If the Borrower Wallet® page is unresponsive:
• Confirm all required fields are filled out – email
address, MFA passcode, and password
• Confirm no error message is being displayed
• Refresh the page
What does it mean when I see this message: "There was a problem logging in. Please try again later."
You can get this error message if you tried logging in before confirming your account or if an incorrect MFA passcode or user password was entered. Try one (or all) of the following:
• Confirm you’re using the most recent MFA passcode in your inbox
• Confirm you’re entering the MFA passcode in the passcode field, not the password field
• Create a new password and login with your
updated password
How do I upload documents?
You’re able to securely upload documents to your
mortgage application directly in Borrower Wallet®
via the Document Center – on the right side of your Dashboard.
• Click the number displayed for “Uploaded Documents”
• Click “Upload Document”
• Choose the document type
• Choose the borrower to associate the document to
• Drag and drop the document into the grey box, or click the grey box to browse for the file
• Click “Finish Uploading”
How do i sign disclosures?
Once the package is submitted, you’ll receive an email asking you to log in – where you’ll see a red dot by the disclosures section, letting you know something is waiting for you. Disclosure packages are listed with your name.
When you’re ready to sign:
• Click your name + accept e-consent
• Preview each document
• When you reach the “Ink-Sign These Docs” page,
download the documents
• Click “Continue” to finish e-signing
• Once you’re signed the ink-sign documents, upload them using the “Upload” button to finish signing.
An hourglass icon will appear if the loan officer has not yet signed.
About First Time Home Buying
Does leapfrog mortgage offer programs for first time home buyers?
No.
What if i need additional time to close on my loan?
WHAT IS UNDERWRITING?
This is when we look at everything you sent us and make a final decision on your loan. It usually takes 2-3 weeks to make sure your documents are accurate and your application is complete. Your loan coordinator will provide an update every few days so you always know where your loan stands.
What is escrow?
What is Pre-Approval vs Pre-Qualification?
What are the down payment options?
Options for Veterans: Veterans Administration loans (VA loans) are designed to help Veterans obtain financing at very reasonable rates and offer financing up to 100% of the home’s value.¹ This means that a qualified Veteran, spouse or active-duty military member could buy without having to make a down payment.
Government Loan Options: The Federal Housing Administration (FHA) was created to help middle- to lower-income buyers secure home loans. The FHA doesn’t actually lend the money; instead, it insures the loan. The FHA requires down payments as low as 3.5% and accepts a wide range of credit scores.
