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Frequently Asked Questions

What can do to get the best mortgage loan for me? 
We are a direct lender and are licensed to do loans in nearly all 50 states. We have access to the best mortgage loan programs across the country. As a direct lender, we save you the time and hassle of calling each lender yourself and having multiple inquiries showing up on your credit reports. 

Can I make home improvements and pay off bills all at once? 
Yes. We have mortgage loan programs that allow you to reduce your monthly bills and make your home improvements, all within the same loan. Some even allow you to get extra cash! 

Can I qualify even if I already have a second mortgage? 
Yes. You can get up to $40,000 for home improvements. You may even be able to pay off your existing mortgage and other bills as well. 

Can I get a loan if have a bankruptcy? 
Yes. If it has been several years since the discharge of debts and you have reestablished some good credit. 

I'm self-employed, is that okay? 
Yes. If your current business has been profitable for two years or more. 

I've been 30 days late on my mortgage, can I get a loan? 
Yes. If your mortgage is current now, and you were only 30 days late one time in the last year. 

Who are the checks made out to? 
For protection and control, home improvement amounts are made payable to both you and the contractor. The contractor endorses the check, you then deposit it into your bank account, and disburse money to the contractor as the work progresses. 

What is the fixed interest rate and closing costs? 
All lenders set their rates and closing costs based on several factors. Most important is your credit history. The better it is, the lower the rate. Also, because of favorable tax laws, loans that include some home improvements have lower rates than those that only payoff bills. Lastly, the more solid your job and income history is, the lower your rate will be. 

Can I use different licensed contractors? 
Yes. You can use multiple contractors for different home improvements.

My home is a condo or manufactured home, is that okay? 
Yes. You can make home improvements on owner occupied, permanently fixed foundation homes.

What documents will I need to get final approval?

Below is a list of the documents normally required to accompany a mortgage loan application. Collecting the necessary documentation in advance will save you significant time in the loan process. It is possible that you may need additional documents, depending on your situation and the type of loan for which you are applying. We will inform you if additional documents are necessary.

Required Documentation for Regular Loans

  • Two most recent pay stubs 
  • W-2 forms for the past two years 
  • Cost of appraisal (if applicable) and credit report 
  • Name, address, and all income earned from all employers for the past two years 

Additional Documentation for 2nd Mortgages & Home Equity Loans 

  • Copy of your first mortgage note 
  • Copy of current Property Deed 
  • Copy of Homeowner's Insurance declaration page(s) 
  • Copy of Homeowner's Association (if applicable) 

Additional Documentation for Refinance Loans 

  • Copy of first mortgage note 
  • Copy of second mortgage note (if applicable) 
  • Copy of current Property Deed 
  • Copy of Title Insurance Policy 
  • Copy of Homeowner's Insurance declaration page(s) 

Special Circumstances 

If you are self-employed or paid by commission: 

  • Previous two years' Federal Income Tax returns with all schedules and a year-to-date profit and loss statement 

If you have filed bankruptcy in the last seven years: 

  • Copy of petition and discharge, handwritten explanation of reason for bankruptcy, evidence of excellent credit since the bankruptcy 

If you will be using Child Support/Alimony income to qualify: 

  • Copies of court records and deposit receipts showing child support/alimony. 

If you will be using income from a Trust Fund to qualify: 

  • Previous two years' Federal Income Tax Returns with all schedules and a copy of the complete trust agreement 
  • Current Profit and Loss (Year To Date) 
  • Three months bank statements for all accounts 
  • Executed copy of contract for purchase 
  • Copy of deposit checks and source of funds 

Required Documentation for Special Programs

VA Loans (Veteran's Administration Loans)

  • DD-214, Certificate of Eligibility or Commanding Officer's declaration of current activity if currently active 

If you own other properties: 

  • Address of properties and current market value 
  • Any debt owed on properties, Lender's name, address, account number, monthly payment, and current balance 
  • Copy of previous two years' Federal Income Tax Returns with all schedules 
  • If currently renting, a copy of the current rental/lease agreement 

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