| 01 | Why can you offer such good rates? |
- Our "Virtual Office" requires little overhead.
- You are your own loan officer! We can slash rates because there is no middle man to pay.
- Because of our computer saavy generation, persons who prefer email vs. phone dialog should be rewarded with lower rates. Your efficeincy saves you money and allows us to shorten the process. Basically, we don't have to hold your hand.
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| 02 | What documents do I need to prepare? |
- Copy of most recent 2 months of bank statements (checking, savings or credit union)
- Copy of most recent 401k or investment statements
- Copy of most recent pay check stubs (30 days worth)
- Copy of most recent Homeowners declaration page
- Copy of your 2002 & 2003 w2’s
- Copy of your most recent mortgage statement (for Refinance's)
- Copy of Driver's License (or provide this at closing)
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| 03 | How long have It’s My Mortgage loan consultants been in business? |
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There is a combined total of over 60 years of experience between our officers.
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| 04 | How long should the refinance process take? |
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Depending on your "quickness" with getting the application returned, the total process should take no longer than 10-12 days, depending on the availability appointments at various closing locations.
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| 05 | Where are your closing locations? |
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With the various title companies we work with, closing your loan at a title office near you will never be a problem for us. Our offices schedule convenient closing locations and times to suit your needs. |
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| 06 | Can I visit your offices to discuss my loan? |
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Our dramatically slashed rates are specifically for our internet clientele. You are welcome to visit our offices in Palos Heights or Park Ridge, however, we cannot guarantee our reduced rates.
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| 07 | What should I expect in terms of closing costs? |
Appraisal- $250.00
Underwriting- $550.00
Commitment-$150.00
Title- $550.00(Refinance Only)
Title- (Based on attorney's fee's if this is a purchase)
There are no points unless requested by borrower
Based on daily rate quotes, closing costs are negotiable.
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| 08 | Is the National Average rate come with points? |
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Yes, the national average according to freddie mac is about 0.7% in origination points. This is equal to $700 per $100,000 of a loan amount. We "DO NOT" charge points |
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