Is there enough of a difference to warrant paying the closing costs and points associated with refinancing?
• Do you plan to remain in your home long enough to recapture the costs involved in refinancing? Even though there are up-front costs involved in refinancing, you will save money over time because your new interest rate is lower. What you need to know: The maximum amount that you can borrow can not exceed 89.99% (80% if the home is a secondary residence) of the value of the home and includes rolling the closing costs into the loan or getting cash out. Your debt-to-income ratios must be able to support your new monthly mortgage payment. To get started immediately click here for our online application. Your property must be owner-occupied or a secondary residence and either a single-family or double-family home. How can I apply for a mortgage loan? When applying for a mortgage loan, you will need to provide the following: • Last year’s W-2 forms. • One month’s current pay stubs. • A list of current “liquid” assets and balances, such as checking and savings accounts. • A list of your curr
