You finally came to the most important part - THE NUMBERS.
WE ONLY ASK ONE THING........that you take the loan quote and COMPARE it against the competition. The numbers don't lie.
What will the loan quote consist of:
- You will always be presented with three different rate and fee options based on your specific criteria.
- All your options will include ALL TOTAL FEES (Lender, Appraisal and Title)
- In most situations you will always have one or more NO COST OPTIONS.
- In most situations you will always have credit left over that will apply against your escrow reserves (if you choose) or as a principle reduction of your loan balance.
What Information is needed to receive a detailed loan quote?
- Purchase or a Refinance
- If it's a Refinance, do you want cash-out or rate/term?
- Type of Property: Single Family, Condo, Townhouse.
- Desired Loan Program: 30 Year, 15 Year, 5/1 ARM.
- Estimated Value of Home/Estimated Purchase Price.
- Estimated Loan Amount/Estimated Down Payment
- Self Assessed Fico Score/Credit Analysis.
- Do you want to Escrow taxes and insurance?
- Is this Owner Occupied or Investment?
- Do you currently have a 2nd mortgage/HELOC?
- If Yes to the above, what is the estimated amount owed on the 2nd mortgage and/or the high balance limit?