Home Loans Available to You
Home Improvement Loans
When you have improvements to make on your home, you can take out a Home Improvement Loan to help you along the way. With one low monthly payment, you can make additions to your home, create or repair landscaping, or install a swimming pool. We have specialists that can work with you to get the right loan program to fit your unique needs.
Combination Loan
A Combination Loan provides a way for you to save money while you increase the value of your home. This loan allows you to make home improvements as you consolidate your debts. Your loan will be split into a fixed-rate loan and a variable-rate loan. Your fixed-rate loan will not rise in interest and your variable-rate loan can have extra payments made to it.
Home Equity Loan
Home equity loans are considered second mortgages on a home as they are held secure by your house. When your property value has grown, you may borrow money against your home. Money in a Home Equity Loan is given in a large sum and is paid back with a fixed interest rate. It is set up with monthly payments for the time of the loan. Home Equity Loans are shorter terms or lengths than a regular first home mortgage. It is usually from 3 to 15 years instead of 15 to 30. The interest rates are higher with a home equity loan than a mortgage because the lender is taking a bigger risk. Your Home Equity Loan is usually backed by the equity in your home and is a type of second mortgage.
Mortgage Refinance
When you refinance your mortgage, you are replacing your first loan with another loan that has a lower interest rate. It is used when you desire to lower the interest rate on your home loan payments and then saving you money. You can lower your interest rate, consolidate your debts, and adjust the length of your loan.
Debt Consolidation Loans
Consolidating your debt is an easy way to lower your overall monthly interest. All of your debts can be put together into one low payment. You will be able to pay off the debt much sooner by having a lower interest rate. Your debt will still need to be paid off, but your mind will be at ease as you focus on only one payment a month.
What you Need for Mortgage Loan Application.
When applying for a mortgage loan there are some documents that you may need for the process. If you have these documents available at the application time, your loan process will go much faster.
Pay Stubs. You may need to show proof of your income. Have pay stubs handy from the last 30 days.
Homeowners insurance. Have a copy ready of this to show that you have sufficient coverage for the property you are ready to purchase.
W2 Forms. A copy of your W2 for is required for every application. It will verify your income history and your employment.
Information of Your Assets. You may need a copy of any asset information you may have that will be used on the purchase of your home. Statements like your savings, checking, and 401K accounts may be needed or even stocks or mutual funds in your name.
Insurance Title. A copy of this title describes the property, taxes, and names associated with the title to the home.
After the mortgage loan has been put through, you will be contacted by your lender. They may ask for any other documentation that is necessary for getting approved. Stay on top of this process, as it will run much smoother with your preparedness.
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