Do Get prequalified Check your credit report Continue paying your current monthly bills, including rent and utilities Pay all your bills on time: Important to be current Continue making purchases as usual: Banks love consistency, and continuing normal patterns of credit use gives banks a good idea of your spending routines Ask your lender questions:…
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Working with Northeast Financial LLC has it perks. One of which is access to our industry leading niche products. Here is quick list of some of the Niche Products you can find here at Northeast Financial LLC: Bank Statement Ideal for self-employed borrowers who can’t use tax returns to qualify Up to 90% LTV, no…
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Loan-to-Value An acronym often encountered in the home buying or refinancing process, LTV describes loan amount as a percentage of the purchase price or value of property. For example, an $80,000 loan on a $100,000 property equals an 80% LTV. You can also think of LTV as the inverse of your down payment. If you…
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This is the final stage of the process before you close. The mortgage underwriter reviews everything and issues an “Approval with Conditions”. They issue a list for your loan officer to help obtain any additional documentation. During this time, once all conditions from the underwriter are met, you will be able to officially schedule your…
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Here are a few reasons to refinance now: 1. Lower your monthly payment by refinancing to a lower rate or by extending your loan. 2. Convert an adjustable-rate mortgage to a fixed-rate mortgage and lock in a guaranteed rate that will never increase. 3. Get cash with a cash-out refinance that lets you access the…
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Mortgage interest rates are currently at or near historical lows over the past 50 years. Now is the time to take advantage of these low rates. One vehicle to do this a Cash Out Refinance. Refinance mortgage rates tend to be lower than the interest rates on other types of debt, so it’s a very…
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Would you like to refinance your existing mortgage? Are you wondering if refinancing your existing mortgage is right for you? Below I have provided answers to your questions. Reasons to refinance your existing mortgage: Lower your monthly payments: Refinancing loans at a lower rate could help you reduce your mortgage payments significantly. Home renovations:…
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