We are making a market with many banks and lenders to find the lowest rate for you. We have access to many different lenders and lender programs and are therefore able to choose, from a vast selection, the loan to best suit your situation. We do not charge a non-refundable application fee - most banks do. Brokers also act as an advocate for the borrower when dealing with the lender and work to make the entire loan process as smooth as possible.

It varies, three to six weeks is about average. We react to your level of urgency and act accordingly.

It depends. Your monthly savings, the cost of the point and the time you plan on staying in your home are all factors. One of our loan officers will be happy to help you determine what is best for you based on your individual situation and future plans.

Closing costs are reduced through the Concierge Program. They will vary depending upon your loan amount, the type of transaction and where you live. One of our loan officers will be happy to customize a quote for you.

There is no fee to you, only your commitment to do the loan. Provide your loan officer with a few details, they will take care of the rest.

We use automated underwriting to minimize the required documents. Depending upon your loan and personal situation, this will vary. . We also let you know when providing additional documents will save you money.

The owner’s policy you bought when you purchased your home continues to cover you and only you. A new lender also requires title insurance to cover their new loan .

This pays for the service that lenders use to monitor and pay your real estate taxes, hazard insurance and any other escrows. In the cases of borrowers that do not have an escrow account, it also monitors to ensure these bills are paid by the borrower.

Every time a loan is made, Federal regulations require lenders to determine if your property is in a flood hazard zone that would require Flood Insurance. This certification also monitors and notifies lenders of any changes in the flood maps that may impact you, their borrower.

If both the new lender and old lender agree, it is absolutely possible. Each will need to review the terms of the other as well as require supporting loan documents. The lender that currently holds your line of credit (or second mortgage) will need to sign a Subordination agreement before the new refinance may take place.

By contacting any (or all) of the three Credit Reporting Agencies. (Maryland residents are entitled to one free copy a year, a fee (typically around $10) is charged for other states).

Equifax ­ 800-685-1111 or www.equifax.com
Experian ­ 888-397-3742 or www.experian.com
TU ­ 800-888-4213 or www.transunion.com

We are often able to help you with that. We use a credit agency that has a direct link to the credit bureaus and can typically correct mistakes in a few days. This can be much quicker than going directly through the credit bureaus as that often takes weeks or months. There are some cases, however, when that is the only alternative, we will be happy to advise you.

The APR (Annual Percentage Rate) is a mathematical composite of your initial interest rate, fees that the Truth-in-Lending Act deem should be considered “finance charges” and, in the case of Adjustable Rate loan programs, some potential future changes to your rate.