Frequently Asked Mortgage Questions
- What are the benefits of refinancing?
- I have never refinanced. What is the process?
- How do I know which bills to consolidate to save the most money?
- Can I refinance to take cash out of my house?
- How do I know what my loan rate will be?
- I recently filed bankruptcy. Can I qualify for a loan?
- What type of credit score do I need?
- If I have had credit problems, can you still help me?
- Will you pay my creditors directly?
- I just bought my home 2 years ago. Can I refinance?
- Can we borrow funds to make home improvements?
- How much do I need for a down payment?
- Can I apply for a purchase loan before I find a property?
Refinancing Questions
Q: What are the benefits of refinancing?
A: You may want to consider refinancing if you are interested in paying off
high-interest-rate debt, shortening the length of your mortgage term, or
lowering your monthly mortgage payment.
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Q: I have never refinanced. What is the process?
A: Our experienced Loan Officers will work with you one-on-one and walk you
through the process.
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Q: How do I know which bills to consolidate to save the
most money?
A: Your Loan Officer will look at your individual situation and guide you
through the process. Your Loan Officer will help you determine the best plan to
meet your needs.
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Q: Can I refinance to take cash out of my house?
A: Yes. We offer a variety of options that allow you to tap into your home's
equity and take cash out. Consult your Loan Officer for the best cash-out
refinancing option for you.
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Q: How do I know what my loan rate will be?
A: Rates vary primarily based on the type and purpose of the loan, your credit
history and income, loan amount, and the value of your property.
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Q: I recently filed bankruptcy. Can I qualify for a loan?
A: We have a variety of programs that can help those who have filed bankruptcy.
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Credit Questions
Q: What type of credit score do I need?
A: We work with all types of borrowers with a variety of credit scores.
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Q: If I have had credit problems, can you still help me?
A: Yes, we have a variety of loan programs available.
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Q: Will you pay my creditors directly?
A: We will send payment to your current mortgage company and any other lien
holders. However, we will give you the checks for your other creditors to send
in with your statements.
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Home Mortgage Questions
Q: I just bought my home 2 years ago. Can I refinance?
A: Yes, we can help you refinance in almost any situation.
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Q: Can we borrow funds to make home improvements?
A: Yes, you can use the equity in your home to make improvements.
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Q: How much do I need for a down payment?
A: There is no set amount. In fact, you might be surprised to learn that many
first-time homebuyer programs require as little as 3% down. There are many loan
programs that can be tailored to fit your needs and financial resources.
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Q: Can I apply for a purchase loan before I find a
property?
A: Yes. A pre-approval is a review of your financial situation to determine the
loan amount you qualify for. A pre-approval may give you greater flexibility
and leverage while you conduct your home search.
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Application Questions
Q: How long does the process take?
A: We can pre-approve you within 24 hours, and often close as fast as one week.
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Q: Do I have to pay an application fee?
A: No, we never charge an application fee.
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