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Posts Tagged ‘Home’

Imagine Your Dream Home

Saturday, April 5th, 2014

We know your imagination has no limits, and with the right planning your daydreams can become a reality. Our affordable mortgage options can help get you in the home you’ve been dreaming of.

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Mortgage Checklist

When you’re ready to get your mortgage here are a few things you should gather ahead of time to bring with you when you meet with a Mortgage Specialist.

For a personal mortgage, you’ll want to have handy your:

  • Most recent paystubs for the past 30 days
  • W2’s for the last 2 years
  • Most recent year tax return
  • Official bank statements for the last 2 months (all pages)

If you’re Self-employed/Corp/LLC, you’ll need:

  • Personal tax returns for the last 2 years
  • Business tax returns for the most recent last two years

If you’re in a contract, you’ll need:

  • The signed contract
  • Home disclosure statement
  • Listing sheet
  • Copy of your deposit check

If you’re in a refinance, you’ll need a copy of your:

  • Mortgage bill
  • Tax bills
  • Homeowners Insurance bill

How do we make mortgages easier?

Hear about how easy it is to work with us, straight from some of our Members.

Our Obvious First Choice – from Tanya and Jason Hamshar

A Mortgage from Start to Finish – from David and Jade Beauharnois

 

 

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The Difference Between a Mortgage and a Home Equity

Friday, October 18th, 2013

We get lots of questions about Home Loans and our resident expert, Mary Beth Geglia will be sharing the answers to some of the most common ones with us on the blog.

What is the difference between a mortgage and a home equity loan?

Mortgages:

  • Are used to purchase a home or investment property only
  • Can be extended for 30 years
  • Closing costs are paid by the borrower
  • Requires a solid credit score to be approved

Home Equities:

  • Can be used for any purchases
  • Has a term of up to 15 years
  • Closing costs are paid by the institution for the borrower (in return they have to keep  the loan with us for a minimum of 3 years and one day)
  • Have more flexibility to get people with less than perfect credit approved
  • Require a lien to be put on your home as collateral

Fixed Rate Home Equity loans would be suggested as a loan to replace an existing loan that currently has a higher interest rate such as paying off credit cards, paying off college loans, repairs to the home or to purchase a rental or vacation property.

If you have other questions about Home Loans leave us a comment and we’ll be sure to answer them!

 

 

Need a Home Makeover? Why It’s Smart to Use Home Equity for Home Improvements

Wednesday, May 1st, 2013

Dan Haggerty, First Source Lending Representative, explains what a home equity loan and line of credit are, and why they’re smarter choices than other payment options. You’ll finally get that home makeover you’ve always wanted without draining your savings, so you’ll have that money to spend on your family.

Once you know your home makeover plan, see us. We’ll show you how much you can afford, and the best part: we do the hard work to make applying easy.

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