Get My Rates - Loan Purpose - Refinance or Purchase

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Loan Purpose – Choose whether this is a new “Purchase” loan or a “Refinance” of an existing loan

Refinance

  • Estimated Property Value – Enter the current estimate of the property value
  • Existing 1st Mortgage – Enter the amount of the existing mortgage. This will affect the Desired Loan Amount
  • Cash Out - The new mortgage loan is for a larger amount than the existing mortgage loan, and the borrower will get the difference between the two loans in cash
  • Zip Code – Enter zip code
  • Credit Score – This is simply a range and a placeholder until an actual credit report is ran
  • Property Type – Select from options: Single Family, Condo, PUD, Manufactured/Double-wide, Manufactured/Single-wide, Coop, Modular, Townhouse/Rowhouse, Investment Property
  • Number of Units – Select the number of units
  • How is the Home Used? – Select from options: Primary Residence, Investment Property, Second/Vacation Home
  • Taxes & Insurance – Specify whether taxes and insurance should be included in rates & options
  • Employment Status - Select from options: Active Military Duty, Salaried Employee, Self Employed, Retired, Other/Unemployed
  • Have a 2nd Mortgage? - Select from options: No, Fixed Rate, Home Equity Line of Credit
    • Fixed Rate
      • Payoff 2nd Mortgage? - Select from options: Payoff at closing, Payoff and don’t close account, Payoff and close account
      • 2nd Mortgage Balance – enter an amount greater than zero
    • Home Equity Line of Credit (HELOC)
      • Payoff 2nd Mortgage? - Select from options: Payoff at closing, Payoff and don’t close account, Payoff and close account
      • HELOC Balance – the amount of debt accumulated on the HELOC account
      • HELOC Credit Line Limit – up to the maximum amount allowed during the term (collateral is borrower’s home equity)
  • Eligible for VA Loan? – If yes…
    • Used before? – check box if it applies
    • On VA Disability? – check box if it applies
    • Military Branch – Select from options: Air Force, Army, Coast Guard, Marine, Navy, Other

Purchase

  • Purchase Price – Enter the purchase price amount, this will affect the Desired Loan Amount
  • Down Payment – Enter down payment amount, this will affect the Desired Loan Amount and percentage value
  • Zip Code – Enter zip code
  • Credit Score – This is simply a range and a placeholder until an actual credit report is ran
  • Property Type – Select from options: Single Family, Condo, PUD, Manufactured/Double-wide, Manufactured/Single-wide, Coop, Modular, Townhouse/Rowhouse, Investment Property
  • Number of Units – Select the number of units
  • How is the Home Used? – Select from options: Primary Residence, Investment Property, Second/Vacation Home
  • Employment Status - Select from options: Active Military Duty, Salaried Employee, Self Employed, Retired, Other/Unemployed
  • First Time Home Buyer? – check box if it applies
  • Eligible for VA Loan? – If yes…
    • Used before? – check box if it applies
    • On VA Disability? – check box if it applies
    • Military Branch – Select from options: Air Force, Army, Coast Guard, Marine, Navy, Other

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