Frequently Asked Questions 

• Is there an application fee?

• No, we never charge an application fee.

• If I have had credit problems in the past, can you still help me?

• Yes, we can help customers with less than perfect credit.  We have a variety of loan programs available so that we can offer you a loan in almost any situation.

• How long does the process take?

• Pre-approval can sometimes take less than 24 hours, and loans can often close as fast as one to two weeks, depending on the individual circumstances involved with the loan.

• Can I borrow funds to make improvements to my home?

• Yes, you can refinance using the existing equity in your home to do a number of things, including using the money to  improve or remodel your home, pay for college or student loans, or even take a vacation.   

• I recently filed for bankruptcy.  Can I still qualify for a loan?

• Yes.  There are a variety of programs that can help customers who have recently filed for bankruptcy. 

• Why should I refinance?

• Decrease your monthly payments: If you can get a rate that’s lower than the one you have, you can lower your monthly payments.
• Get Cash out of your Equity: If you’ve built up enough equity in your home, you may be able to pull cash out by refinancing.  You must decide how much money you want, and then increase the new loan by that amount. 
• Switch from an adjustable rate to a fixed rate: You can save money by refinancing if interest rates have fallen below your current rate. 
• Consolidate debt: You can refinance your mortgage to pay off debt by increasing the new loan amount to include all of your outstanding debts or bills.   At the closing, checks will be sent to pay off creditors.    

• What are the costs associated with refinancing?

• Just like a first mortgage, a refinance involves points and fees that must be considered in the total cost.  Also, if your first mortgage contains a prepayment penalty, you will incur this cost by refinancing.