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• Reasons to Refinance:
Oftentimes you find that you are perfectly content with the location you live in but you would like to make some changes, Depending on how much equity you have accumulated in your home, you may be able to do a cash - out refinance to get the available funds to remodel... click for more...
• The Refinanceing Process:
The Family Mortgage 6 step refinancing process, Shop around and do you homework, apply and lock your rate for FREE... click for more...
• How to Comparison Shop:
We Want You to Shop the Competition. At Family Mortgage, we know we offer the finest mortgage loan experience on the market, but put us to the test with the attached checklist... click for more...
• Qualifying for a loan - the real facts:
For normal conventional loans (loan sizes from $50,000 - $1,000,000) for borrowers with average to above average credit that can document their income, qualification is generally an automated process... click for more...
• Loan Programs
It seems that within the mortgage industry, there’s always a great new product just around the corner that benefits the consumer. The latest of these to surface is the “zero down” mortgage. This mortgage seems to suit two decidedly different types of borrowers... click for more...
• What is Your Home Worth?:
We have a sister company Thompson Evans Realty, when you chose to work with Family Mortgage they can provide you with no obligation a Competitive Market Assessment of you home... click for more...
• Do I Need an Appraisal?:
So who makes sure the value of the property is in line with the amount being financed? There are too many people exposed in the real estate process to let such a transaction proceed without ensuring that the value of the property is commensurate with the amount being refinanced... click for more...
• Can I Roll in My Closing Costs?:
When you refinance and pay closing costs, you can certainly roll in these expenses to the new loan if you so desire as long as you have enough equity to avoid paying PMI... click for more...
• Will I have to pay PMI When I Refinance?:
You will only be required to pay PMI if your loan amount exceeds 80% of the appraised value of the home. If this is the case because your house has not appreciated enough to avoid it or your taking cash out that would put you over this threshold... click for more...
• If I Have a Second Mortgage, Can I Roll it Together Into a new First Mortgage?:
Oftentimes it may seem like a good idea to refinance to combine a first and second mortgages. If you have enough equity to keep your combined loans under 80% of the appraised value of your home this may work. There are some considerations however... click for more...
• What Happens With My Existing Tax And Insurance Escrow Account?:
Your existing escrow account will be refunded to you by your current lender within 30 days by Federal Law. They are not obligated to credit this money back when you close on your new refinance loan... click for more...
• Do I Need Cash to Close?:
There may be some out of pocket funds required at closing depending upon a couple of factors. If you have an escrow account for taxes and insurance, it does not roll over to your new mortgage... click for more...
• Have You Considered a No Closing Cost Refinance?:
No fees added into the loan you borrow 200k you owe 200k... click for more...
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