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Mortgage
Services
- For most homebuyers, finding a mortgage lender is a critical step in the process.
For homesellers, knowing that a potential buyer is pre-approved for financing
can be a significant factor in the decision-making process. We recommend getting
pre-approved before you start looking for a home; as a key element in the
process, having your financing in place prior to the negotiation process can
help ease much of the stress typical to those discussions.
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- Refinancing
- The refinancing process is similar to the mortgage process except that refinancings are typically faster and require fewer steps.
- Refinancing your mortgage can provide real benefits. Here are two examples:
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- Interest rates have dropped significantly in recent months.
You may be able to reduce your monthly payments significantly by refinancing.
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- Property values have increased significantly in recent years. You may be
able to eliminate mortgage insurance and escrow payments, or obtain additional cash by
refinancing.
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- When
To Consider Refinancing
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- Financial situation has changed: If your financial situation has changed
significantly, you may be able to match the terms of your mortgage financing more closely
with your new financial situation
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- Rates have dropped significantly: If rates have dropped significantly
since your last mortgage, you may be able to lower costs, and/or increase your financial
flexibility
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- Rates have/are threatening to increase: If rates have increased, or you
are worried they might and you have an adjustable rate mortgage, you may consider
refinancing to lock-in a rate
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- Risk profile has changed: If your tolerance for risk has changed, you
may be able to increase your flexibility, or lower your risk
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- Refinancing is an important personal financial management decision. We encourage you to talk
with a Mortgage Consultant to help you determine what's best for you.
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- Refinancing
Options
- There are unlimited mortgage options available to refinance a mortgage. Just like the options
that are available when you buy a house, you can choose among various programs and point options.
The most popular programs involve either a 'no point/no closing cost', or a zero point option.
A no point/no closing cost mortgage has no fees associated with it. The appraisal, title
insurance, lawyer fee's etc., are all paid by us. The only amounts on a no point/no closing cost
loan that you will be required to pay at closing are the escrows. A zero point option has all of
the closing costs paid by the borrower, although usually they can be rolled into the loan amount,
so that you do not need to pay for them out of your pocket.
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- Refinancing
Process
- We can speed and simplify your refinance. The process is simple whether or not we helped
you to obtain your original mortgage. All we need is the following information:
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- Copy of Deed
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- Current pay stubs for the past thirty days
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- Most Recent Year W2
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- Two months current bank statements for checking and savings accounts
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- Last quarterly statements for all retirement and mutual fund accounts
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- One way to speed things up would be to make sure your paperwork is complete when submitting
your application. The entire process can be done in as little as 2 weeks, and with your help we
can expedite the process and get you to the closing.
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- Loan
Programs
- The United States mortgage financing industry is highly competitive and creative. Lenders
have developed myriad financing options to meet the specific needs of virtually all potential
borrowers. Talk with a mortgage specialist today to find
the best loan for you and your lifestyle.
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2006
Encore Real Estate, Builtmor Homes & Distant
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