Home Purchase and Refinance Loans
Conventional FHA VA
Nontraditional Self-Employed
Purchase
Thinking about purchasing a home?
The best thing you can do is to find out early what purchase price and loan amount you can prequalify for.
What happens during the prequalification process?
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You will apply online or over the phone.
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Your loan officer may ask you for income and asset documents such as pay stubs and bank statements.
Often during the prequalification process, the need for furthur documentation is uncovered that the borrower may need time to acquire. Then once they have it and find a home, the loan process will be be quicker and smoother for all involved.
Refinance
Have you lived in your home at least one year?
When your home equity (value minus loan amount) goes up, it may be a good time for you to refinance into another loan in order to get a lower interest rate, get rid of mortgage insurance you are paying, or to do a cash-out refinance.
A CASH-OUT refinance can be helpful for a variety of reasons. For instance, you can use the funds for home improvement or as cash for a rainy day. With recent escalations in home values, many homeowners have more equity that they can use to their advantage.