Refinance Your Current Mortgage. Refinance for a lower rate and get the cash you need to pay off debts while rates are still low. The money also could be used for the purchase of a second home, tuition, lower the term of your loan, or any other worthwhile purpose.
Prequalification: The loan process begins with a personal meeting with one of our Mortgage Specialists. We will sit down at your convenience to analyze your financial situation and assess your home financing needs. For the home buyer, a prequalification letter outlining your ability to purchase a home, is a strong addition to any offer.
Numbers:
Once we have determined how much of a loan amount you qualify for, we will go over a Good Faith Estimate of costs with you. This document covers your closing costs, down payment, and escrow's for real estate taxes, homeowners ins., PMI, prepaid interest, condo fee, and total payment per month. This helps to determine if you have enough money and can afford the payment per month.
Documentation:
Once the appropriate loan program has been determined, we will gather the necessary documentation. Depending on your individual needs, this documentation could include w-2s, pay-stubs, tax returns, asset statements, or rental agreements. All relevant information will be added to the application package and sent to the lender for approval. Your Mortgage Specialist will go over all the documentation and disclosures with you, answering any questions you may have. At Independent Mortgage, we strive to have a hands-on, accessible relationship with our borrowers and will be available anytime to assist you.
Closing:
Once the final approval is obtained from the lender we will schedule a closing with the attorney. Prior to the actual closing your Mortgage Specialist will go over all of the final numbers with you making sure any last minute questions are answered. Our goal is to keep you updated and informed through out the lending process, thereby eliminating any stress or anxiety associated with closing your mortgage loan.
