Ava was very quick to respond and helpful to share relevant information. I really appreciate Ava's guidance during the entire process
Bryan L Nov 27, 2023
excellent service and save time and money she is a GREAT GREAT LOAN OFFICER
Tan H Oct 26, 2023
Incredibly Knowledgable, quick to respond!
Peggy W Aug 31, 2023
Chun S Jul 15, 2023
Ava kept in touch with us continuously. Even when we put a hold on looking at a house, she still reached out to see how we were and if we were still looking. For a first time homebuyer there were a few things we didn’t understand and she had no issues explaining it to us. She went above and beyond.
Brandy N Jun 21, 2023
She is the best loan officer who i knew, i just want to say thank you so much what you do for me and my family, thank you Mrs Ava and her team
Alex V May 20, 2023
keep up the good work ...
Thao T May 06, 2023
Qing L Apr 14, 2023
Ava took the time to explain the entire process for me, and as a 1st time home buyer, I appreciated it.
Bradley O Dec 17, 2022
I really like your service
Luyen P Jul 27, 2022
Throughout this home buying process, Ava has helped us tremendously and was able to answer all our questions, explained everything to us very concisely and clearly; making our process very smooth.
Linda T Jun 14, 2022
Easy process with good communication
Christopher Y Jun 04, 2022
Ava went over and beyond what I expected from her. She answered all of my concern and questions that I asked her. I felt very at ease to communicate with her. She helped me to get what I needed to complete my loan. One time I was surprised to find out that she worked so late to help me to process the loan!
I got to give her five stars (*****) for what she's done for me to get my loan. I really appreciated it.
Andy N May 27, 2022
Ava is very knowledgable. She explained everything clear and let us know what to expect. She kept us updated on every steps along the way. Definitely recommend her to anyone that is looking to applying for a mortgage!
Ha D May 16, 2022
Made my first home purchase an easy and smooth experience.
Danh N Apr 19, 2022
She was very informative and helpful
Emerson H Apr 12, 2022
The communication, the will to expediate, and the transparent natural of the transaction
Simon L Mar 26, 2022
Ava is the best loan agent who has gone out of her way to get the loan done before the contract closing date. I am so happy to have Ava worked on my loan case and will absolutely refer her future service to me and my friends again. Thanks Ava.
Lien H Feb 03, 2022
Ava is the best 🥰👍
Anh V Dec 12, 2021
Amazing service. Made me feel like I was a priority and would always communicate with me about any problems or conditions. Was always there for us and would absolutely recommend Ava to my friends!
Hong Son H Dec 12, 2021
With highly knowledgeable and responsible, Ava walks you through the entire loan process. She has a great team also that able to get It closed on time and excess your expectations.
I am very happy about the transaction. Ava is highly recommended for you mortgage needs.
Yuan J Nov 29, 2021
Mohamed S Oct 26, 2021
very professional experiance. they always made themselves available to answer my questions at a prompt time.
Luis G Oct 20, 2021
Very fast and easy process.
Hung T Oct 13, 2021
Donny W Aug 13, 2021
Ava was always available for us to contact if we had any questions. She works very fast and is able to address all of our issues. We greatly appreciate Ava for all the work she did to make sure our transaction went smoothly.
Victor D Aug 05, 2021
I never thought I could get a loan even a small loan to get a car cause of my credit. but I give it a try and Ava did a really good job getting me a loan to buy my townhouse.I super happy
Dat L Aug 04, 2021
You guys take care of customer good.
Bao-Thu C Jul 24, 2021
Ava was quick with her follow ups and made sure to answer all of my questions. Her and her team made my loan process very smooth. I felt well taken care of.
Peter N Jul 02, 2021
I am super please to work with Ms. Nguyen. She is one of the most responsible lender officer I have ever worked with. She is very attentive with the clients and able to guide them step by step in this loan process. She follows up with the transaction status and was able to answer my client all of the questions they have. I am very satisfy working with her and highly recommend her to anyone shopping for a home in need of loan. She is definitely one of my go to lender person from now!
Edward Y Jul 02, 2021
Ava made our transaction painless. She provided clear explanation about the rate and advised what we should choose. Of course, she updated us step-by-step along the way. Really appreciate for what she did for us!
Tam V Jun 30, 2021
Ava and her team made the whole loan process so easy and smooth. We really appreciate the great service and how quickly we closed on our loan. Thank you!
Lilian C Jun 15, 2021
Ava was very clear and attentive to my loan. Got all my questions and more promptly answered
Ba D Jun 08, 2021
Whenever I had a question, I was promptly received an answer that satisfactorily. Any requests that I had, all were resolved satisfactorily.
Hue S Jun 08, 2021
I really like the way Ava worked with us on the recent transactions. She was responsive, accurate, enthusiastic, hard working and very professional. I really appreciate Ava's help and will refer her to my other clients for sure.
Cuong N Jun 07, 2021
Fast response time. Helped me close my house on time. Thanks so much.
Kim N Jun 04, 2021
Ava is very flexible with and working with great attitude.
Tu N May 12, 2021
Ava done a great job, we losing cost is just late one day but that problem is the seller fault. She even speak my language and answer all my questions I need. We definitely come back to ask for her to help again for next time we buy another house.
Danny H May 04, 2021
Patrick F May 01, 2021
The communication was great! Everything was fine in a timely manner. Much appreciated!
Judy W Mar 29, 2021
Ava is friendly, professional, smart, and hard working. She understands our needs and is always available when we have questions. Highly recommend her and her team!!
Yuxuan W Mar 29, 2021
A huge Thank you to Ava and her team, they delivered a smooth transaction and amazing rate for our mortgage. We appreciate her counsel to help us select the right product. Experienced and professional team, very responsive, I highly recommend.
Tuan N Mar 26, 2021
She’s very helpful and definitely tell you what you need to get done
Anh P Mar 26, 2021
We are first timers getting a mortgage to buy our first home and Ava was great with explaining everything to us and made sure we had everything we needed! She is very knowledgeable and does great with communication! Have already recommended her to others!
Viet N Mar 12, 2021
Ava is very responsive to me and my clients. So far I am very pleased with her work.
Chantal L Mar 09, 2021
Always a joy working with Ava. She’s very accommodating and knowledgeable about mortgage loan financing. As realtor once I turn over mortgage financing to Ava, I don’t need to worry as she will update me every steps of the way.
Truong V Mar 09, 2021
We have worked with Ava on multiple deal and could not be happier. Thank you!
Nampetch Y Mar 01, 2021
Thank you ! Ana Thuy Nguyen . Great customer services .
Trang H Feb 05, 2021
Excellent communication and fast, quick service.
David Y Feb 05, 2021
She doing a very good job on my loan
Hung N Jan 26, 2021
There will be no hidden fees working with Ava. She delivered results!
Kieu T Jan 12, 2021
Ava is professional loan office, it is very fast and easy working with. Great communication, I would refer Ava to all my friend and family. Awesome
Billy D Jan 12, 2021
Ava is very thorough, professional and helpful with my mortgage refinance process.
Tin D Jan 07, 2021
Ava was exceptional. She explains everything to my clients. She keeps them informed every step of the way. They feel comfortable and confident she’ll get the loan done on time. And that’s very important to me as a Realtor
Dorothy Y Jan 06, 2021
I really enjoyed working with my loan officer Ms. Ava Nguyen. She is really nice and informative and very professional. I would refer her to my family and friends in a heart beat.
Viet N Jan 06, 2021
Ava is always available to help. Communication was great. She always keeps me informed all the way thru the transaction. Great Customer Service
Dorothy Y Jan 04, 2021
Ava is very professional to advise us to go through the loan to get the house! It’s fast and very convenience! I never work with any professional like that! My husband and I recommend her to our friends. Hope they will have same feeling and service like us! Thank you Ava!
Annie N Jan 03, 2021
Communication was great. Rate was very competitive with on time delivery as committed.
Kriangsak C Jan 02, 2021
Ava went above and beyond for us. She was available after hours when we needed her. Which was a great thing since we both worked late. She answered our questions promptly. We appreciated her work for us.
Tri L Jan 01, 2021
Ava is very knowledgeable in the mortgage industry, she always deliver as promised. Ava is very consistent and fair with all her files, she keeps you up-to-date with every steps of the way. The best things about Ava that stood out the most are her competent and reachable. I would recommend Ava's service to anyone.
HUNG N Dec 30, 2020
Overall, awesome experience with Ava and her team. Helped me whenever I had a question. Quick and responsive.
Warren C Dec 21, 2020
She find way and help me make the loan work.
Thuy H Dec 20, 2020
Ava is such an amazing loan officer! She is very friendly, professional, and always available to help. I would refer Ava to all my family and friends. Thank you Ava.
Katherine D Dec 07, 2020
Great communication, pleasant to work with.
Annie D Dec 02, 2020
Great Loan officer! She is very kind, professional and enthusiatic.
Tien T Nov 19, 2020
Ava speaks Vietnamese and she is very knowledgeable. I love that Ava would attend the closing with my clients and make sure everything is done correctly until the end. It has been a great pleasure to know Ava and have her number ok speed dial for any loan related subjects. 5 out of 5 stars rating from me!
Vy V Nov 19, 2020
Ava is very responsive no matter its after hours or weekends. She is on top of her game.
Prashant M Nov 18, 2020
The reason why this us a great survey is because when I need help, she is always there to save me and respond to mr quickly.
Hoai N Nov 07, 2020
Very responsive and helpful. She made my closing process very smooth. Absolutely love working with her!!!
Dan T Nov 06, 2020
Ava has been great in closing deals on many challenging files. It’s great to have been working with her.
Truong V Nov 03, 2020
Ava was awesome and made everything hassle/stress free
Quoc P Nov 03, 2020
The Loan Officer was very professional. She explains everything clearly about the loan process . Will refer friends and family to her. Thanks Ava.
Andrew H Oct 24, 2020
patience, consistent, and helpful
Canary H Oct 20, 2020
Great communication. Ava was able to walk me through the process every step of the way. I would definitely recommend her to anyone looking to get the home buying process started.
Kenneth L Oct 20, 2020
Ava is the best one to work with. Thanks for your wonderful service!
Lan L Oct 20, 2020
Ava was great at communicating everything in a timely manner. She showed great knowledge in how she guided me through the loan process. And she was pleasant to work with.
Cindi T Oct 13, 2020
She is amazing in all areas of her work, knowledge, personality, and customer service.
Azeema R Oct 01, 2020
Ava was very personable and super friendly! She answered all my questions in a timely manner and was easy to talk to. Thanks again Ava!
Stephen W Sep 19, 2020
We have had multiple smooth transactions. Ava, is always ahead of schedule. She understands the urgency of every contract.
Christopher V Sep 16, 2020
Ava was so helpful! This was our first home purchase and she made the process incredibly smooth and stress free. I fully trust Ava and will be recommending her to my friends and family,
Thuy-Linh N Sep 13, 2020
Ava was very pleasant and extremely helpful. She went above and beyond so my refinance went smoothly and she make it a pleasant experience.
Christine W Sep 07, 2020
Ava was great to work with. She answered my questions immediately and got me a fantastic interest rate. Both Ava and her loan processor, Jodie Orlando, made my refinancing very easy. I would highly recommend her!
Bonita P Sep 06, 2020
Ava is great. She helped us refinance all my investment properties. Great communication all around!
Nuttapone P Sep 02, 2020
Great experience and Service
Anthony C Aug 21, 2020
Ava was an excellent Loan Officer! Very polite, good knowledge about the product, helpful, quick response, good result, great personality! I would recommend clients to her in the future!
Thanks so much for her dedicated hard work!!!
Christopher T Aug 15, 2020
Your services is fantastic and efficient ! she was very hard working . She delivered her services effortlessly. I highly recommend her .
Haley N Aug 13, 2020
Ava delivers what she promises, very professional and Guide her client steps by steps.
Kieu T Aug 06, 2020
GREAT. Perfect! Thanks.
Tien T Jul 27, 2020
What made it great was he 3.0% rate and the great service I had with Ava and her team.
James M Jul 27, 2020
Very nice and understanding easy to get along..
Tuyet H Jul 16, 2020
Ava has been super in reaching out to clients and making them feel at ease with all the transaction.
Truong V Jul 13, 2020
I loved working with Ava on my mortgage loan, she is very efficient and made my home buying experience so easy! I'm very happy with her service and would highly recommend her!
SOCORRO T Jun 30, 2020
Ava was very helpful to us from the beginning and followed through all the way to the end at closing to make sure that we get the information we needed and making sure the closing goes smoothly without any interruptions. But most importantly, she got us a very low low interest rate. I would 100% with no doubt recommended Ava Nguyen to anyone that in needs of a mortgage loan. The process was quick, easy and very professional. 10 stars ⭐️ 🥇 Great job Ava and Thank you!
Minh N Jun 24, 2020
I was very well informed through out the whole transaction. Received updates and very helpful information. Very happy with the process and excited.
Cristina H Jun 18, 2020
Ava and her team were very efficient and easy to communicate and work with throughout the entire process. She made everything easy to understand and the follow up was great too.
Stephanie L Jun 08, 2020
Ava is the best!!!!
Lan L May 29, 2020
this is my 5th deal with Ava, i will be back with my business again soon!
Prabhdeep S May 16, 2020
Ava was great. She was very patient in working with me with my chaotic schedule. It was really difficult due to the fact that I was out of state but communication was impeccable. Made buying my first home very comfortable knowing that she was assisting me and guiding me to the right direction considering I had no clue what to do. Would definitely refer to her again on my next house or if a friend asked.
Daniel P Apr 11, 2020
Ava is very professional, experience, great communication and the best there is in the business. I highly recommend her and her team for all your mortgage needs! We look forward to using Ava and her team for our future purchases.
Hau N Mar 27, 2020
Ava was extremely helpful in walking me through the loan process. She communicated clearly and gave great tips and was prompt in her response to my questions.
Uyenngoc M Mar 27, 2020
Ms. Ava is very professional and she gave very good and honest advices. She is also very organized and explained well what to be expected. I am very happy.
Tan P Mar 26, 2020
Very experienced, always positive and cooperative.
Truong V Mar 26, 2020
Friendly, professional, and a great resource for our loan questions. Ava and Jodie were there with us every step of the way, we are thoroughly impressed by their excellent service, communication, and transparency. We highly recommend Ava to our family and friends for their mortgage needs. Thank you Ava and team!
Tuan N Feb 11, 2020
Ava very good at what she do. Professional and get business done right.
Thai P Jan 30, 2020
Ava always delivers as promised.
HUNG N Jan 27, 2020
Very smooth and pleasant transaction, looking forward to working many more deals with Ava
Asifali S Jan 27, 2020
Ava was wonderful to work with she was very clear on everything I had a wonderful experience with her.
Diem L Dec 23, 2019
She’s been the best loan officer I’ve ever worked with.
Lan L Dec 20, 2019
great personality. easy to work with. very detail, on top of things. take action and get it done.
Haotam P Dec 05, 2019
Ava, is a hands down top notch professional. She always pick up the phone, or if she is busy she will definitely return your call promptly. She is very helpful and extremely knowledgeable. She makes the our buying experience exceptionally easy. We appreciate all the hard work that she does to find us a very good loan package that fits our situation.
Thank you, Ava!
Samson B Nov 24, 2019
Ava communicated with us every step of the way, everything she told us was clear and easy, she handled the whole process swiftly and smoothly and she was very kind!
Michael L Nov 22, 2019
Ava Thuy Nguyen is the most professional, She has so much patience and communication is in the highest level.l would definitely recommend her for all your loan needs. Thank you Ava.
Benjamine A Nov 16, 2019
Ava was awesome
Prabhdeep S Oct 28, 2019
Ava is a very nice person and hard working .She help my clients to closed the deal very smooth.
Tho V Oct 22, 2019
Ava was very easy to work with, she made the mortgage process simple and stress-free
Nhu N Oct 15, 2019
She is nice and knowledgeable. She explains clearly about all the process and the time it would take to complete my refinance.
Thanh H Oct 14, 2019
Very professional and giving good advices to the client, client was well taken care off from the beginning to closing.
Hien Q Oct 14, 2019
My clients and myself are very please with her works. Ava is detailed and patient with clients. She did how up in the closing and explained when clients have questions about their mortage.
We greatly appreciated her excelent service.
Thien L Oct 11, 2019
great customer service and quick process
Phong N Oct 05, 2019
I recently worked with Ava Nguyen for our mortgage loan. From the beginning she has been incredibly professional and sweet, we didn't know anything about the mortgage process, she was there every step of the way through credit problem, down payment , mortgage rate, appraisal ...., which saved us a lot a lot of money buying our new home.
We couldn't have asked for a better experience and highly recommend Ava and her company to our friends.
Nicole C Oct 03, 2019
Very professional and knowledgeable!!!
TUYET ( Aug 07, 2019
Ava has always explained things very well. She will go over it & over it if you or clients are having trouble understanding any part of the loan process. Ava provide us with honest & reliable information & have never been disappointed. She is always our 1st choice, if we need loan help.
Ava was prompt, professional, and courteous. She was patient and thorough answering all of my questions. She kept the ball rolling and the process was completed in the time frame promised!
ERIC L Jul 26, 2019
She’s a very patient person who has helped me a lot even on a little thing when I had trouble or missed understood with. She explained them detail by detail till I understood it. Thanks Ava.
Jeannie M Jul 20, 2019
When I hand a file to Ava, I can trust her 110% to get the file done in a timely manner. Even when she travels overseas, she still calls me at 3 pm which is 3 AM on the side of the world to give me the file status. Now this is what you call 110% REMARKABLE service Loan officer.
Thank you for all your hard work Ava!!!
QUINN L Jul 10, 2019
Very informative, helped us every step of the way to ensure we got our dream house.
James M Jul 07, 2019
You can believe that you can truth in her by the way she works. She has a lot of experiences on her career that is why she always gives me the perfect answers.
Trung N Jul 02, 2019
I love constant communication and keeping the agent and client in the loop of every step! Ava and Jodie has been an absolute pleasure to work with!
Penny N Jun 27, 2019
Ava explained everything to me thoroughly. She made everything so simple and easy. There were no unpleasant surprises and helped in every way she could.
Adriana Q Jun 26, 2019
Ava helps us everything we need for loan even we didnt have the realtor for ourselves- she helped for reading the contract with the seller too. Explain clearly everything we need for loan.
Thank you Ava.
Christine N Jun 09, 2019
Ava is awesome ! 👏🏻
Le T Jun 01, 2019
Thanks Ava for your great service. Will recommend to all of my clients.
Lan L May 28, 2019
Ava is reliable and knowledgeable loan officer. I definitely recommend her for my friends and relatives after working with her on two mortgage loans.
Trung N Apr 26, 2019
Ava was a pleasure to work with. Answered our questions day and night,and showed up at our closing to explain the material we were signing. Top notch! Thank you.
Dale K Apr 17, 2019
she is the first agent helped me to buy the house. she is very active, patient and careful.
THANH N Apr 12, 2019
Ava treat us like a family member and I highly recommended everyone to use her as your loan officer
Dat T Mar 09, 2019
Getting what I needed in a timely manner was exactly what Ava did for me. I am very happy with the service and communication. I will definitely refer friends and family to Ava for business.
LIANA T Jan 20, 2019
Ava is the best , she explains everything I need make all processing go smoothly
HONG T Dec 11, 2018
The process of application was very smooth !
Michele H Nov 28, 2018
Great communication! The whole process was easy and fast. Ava, Jodie, and the entire Verity team are one of the best in this business.
Andy T Nov 27, 2018
Kevin V Nov 19, 2018
Keeping me informed on every step on the processing of the loan from beginning to end. Being able to answer every question and put me at ease.
LAVEQUE K Sep 28, 2018
Very fast and timely response, useful advises, friendly, professional
WONG T Aug 20, 2018
She is very professional and knowledgeable to work with. Excellent communication skills. Recommend her for all your needs
APPIAH B Aug 20, 2018
Professional, attentive, fast customer service. Sweetest loan officer in the world.
HUYNH T Jun 08, 2018
I would love to work with Ava again in the future. As an insurance agent I would refer all my clients to her.
NGUYEN N Jun 08, 2018
She helps us when we need.
NGUYEN H May 17, 2018
She helped me to understand all my questions
NGUYEN N May 15, 2018
Excellent communication and quick response.
NGUYEN H May 05, 2018
One word GREAT
TRAN T Apr 23, 2018
After 3 times appling with other mortgage companies, I got a referral from a friend to Ava. I am so blessed that Ava was able to help me thru the whole process. She communicates and explained all my questions and concerns. With all the loan officers I have dealt with before, Ava is the best. I highly recommend her to anyone and specially my family and friends.
VO K Apr 04, 2018
Great service. Couldn't ask for a better loan officer.
NGO N Mar 28, 2018
Ava is professional, great in communications, excellent & very experience loan officer. I'm very satisfied with her services & will definitely contact her for my next loan.
Duong K Mar 28, 2018
Ava was great. She took the time to explain the process and made sure we closed on time. I would recommend her for anyone and would definitely use her again if we ever need it.
TRUONG D Mar 23, 2018
She did everything she could to help me out. She did a great job. Thanks again.
DUONG M Feb 26, 2018
WU G Feb 22, 2018
Ava did an exemplary works to find a good refinance option for me. Her professionalism and extensive knowledge are second to none. I will come back to her for any finance/refinance needs in the future. Thank you.
Nhan N Oct 27, 2017
Ava was a pleasure to work with. All communication was timely and I knew I was in great hands. I will definitely contact Ava for future home purchases.
PRABHDEEP S Oct 23, 2017
The service from beginning to finish was amazing. This team's commitment, dedication, and communication were top of the notch. I will be customer for life.
Andy T Sep 21, 2017
I am a first-time home buyer. She is very helpful and patient to me.
YEN V Sep 11, 2017
We want to make your home financing as easy as it can be. With Verity Mortgage, you can relax while we handle the details.
You can get a loan before you even select a home. A Verity home mortgage specialist can perform a pre-qualification or pre-approval so that you'll have a good idea of how much you can afford. Once you've found a home, and a seller has accepted your offer, you are ready to move to the Application process.
- You will know the loan amount you qualify for so that you know what home price range to shop
- Save time to narrow the list of homes to ones that fit your price range
- Discover any credit challenges early in the process we can resolve them at the beginning of the process
- Confidently make an offer as soon as you find your dream house
- Sellers will consider your offer more strongly with a prequalification letter over one that is not
- Your agent will ask for this as it improves your chances of getting the house you want
There are no fees or costs to getting pre-qualified, but it is a vital step in the home buying process. Call us today!
Prequalification: This is an overview of your credit profile that is an important step to writing offers for new homes and one we highly recommend. It just means that you have not submitted the documentation that will be required to verify your income, financial statements showing enough assets to close and you have not yet met the underwriting guidelines of the program you are going to select once you find the home of your dreams.
Preapproval: If you have a little more time at the beginning of the process, we always recommend getting Preapproved. A preapproval is the start of the formal application process before you find the property and is more thorough review of your financial position and ability to qualify for a home.
Why get Preapproved for a Mortgage?
- You’ll be able to move faster to find the house you want
- Most of the paperwork will be out of the way so you can close your loan faster
- You will be able to move to the top of the offer stack as your income, assets, and ability to buy has been verified
- Sellers know you will be less likely to have a delay in closing
- In competitive markets, this is another feather in your cap
Buying a house is one of the biggest decisions you will make in your lifetime. Our goal is to make the process as smooth and hassle-free as we can. Understanding the process will give you the knowledge you need to get started.
- Step in Getting Prequalified or Preapproved
You can get a loan before you even select a home. One of our home loan experts can perform a pre-qualification or pre-approval so that you’ll have a good idea of how much you can afford. Once you’ve found a home, and a seller has accepted your offer, you are ready to move to the Application process.
Once you’ve selected a home, your home specialist completes the mortgage application, gathers information about the property you want to buy, and collects personal information, such as income, assets, and employment history. For a complete list of information that you need to provide, see the Application checklist.
Once your application is complete, a loan processor reviews your file and verifies your information. We order a credit report to determine your credit history and credit score. We also order an appraisal of the property.
An underwriter reviews your file and determines whether your loan will be granted and issues the loan approval. The underwriter may request additional information during this review process.
Once the loan is approved, the closing process begins. Our closing department prepares closing documents and sends closing instructions to the title agent. The title agent is responsible for examining the title of the property and working with you for an acceptable closing date. At the closing, you’ll sign papers, pay closing costs, and finalize the transaction. Now it’s time to move into your new home.
Lower Payments*. Consolidate Debt. Pull Cash Out.
*By refinancing your existing loan, the total finance charges may be higher over the life of the loan.
First, start by asking yourself one of these questions.
Has your income increased? Do you need to consolidate debt? Has the equity in your home increased? Do you need money for a major expense? Has your credit rating improved?
If the answer is yes to any of these questions than we encourage you to call one of our home loan experts to give you a refinance evaluation. It costs nothing but could save you thousands of dollars in interest, pay off high balance credit cards, or help pay for college or unexpected expenses.
Knowing your options is the most import part of the refinance decision so Call us today!
As you pay down your mortgage or as home values increase over time, a cash-out refinance allows you to use a portion of your equity and turn it into cash. The great news is you can use that cash however you want. Home improvements, unexpected expenses, college tuition or just to check a destination off your bucket list.
When is the best time to turn that equity into your house and use it as you see fit? That answer is up to you and can be used to fit your current needs.
Some of the more chosen reasons for utilizing a cash-out refinance are to:
- Remodel of you home
- Pay off high-interest credit cards or auto loans, neither of which is tax deductible like mortgage interest
- Help with life events like a growing family
- Bucket List Reduction
- Elimination of student debt
A renovation loan will let you do almost anything with your home. Some loans are used on smaller projects like ordinary repairs or cosmetic updates. These types of renovations loans typically don’t have minimum loan requirements for the repairs or upgrades you want to make to your home. These loans are limited to non-structural repairs with maximum loan amounts around $30,000.
With these types of loan, you can improve things like:
- Repairing or replacing your roof and gutters
- Redesigning your kitchen or bath
- Landscaping or adding a deck
- Buying new appliances
- Getting new windows, doors or floors
- Making your home energy efficient
- Upgrading plumbing, electrical, heating or cooling systems
- Ask a home loan expert (bolded and hyperlinked to find a loan officer)
Need to do more extensive renovation? We got you covered!
We have other programs that are specifically intended to make major repairs or changes to your home. These will have a minimum loan amount but the good news is you can borrow up to the value of your property plus repairs/renovation. Here are some examples:
- Room additions or adding a second floor
- Major remodeling that requires structural work
- Foundation or other structural repairs
- Projects over six months
You don’t have to settle for a house that only has half of the items on your wish list. With renovation loan you can buy in the perfect neighborhood and then get all the items on your list without coming out of pocket. This loan allows you to combine the purchase price of the home and the cost of repairs and upgrades into a single mortgage. No second lien at a higher interest rate required. Other benefits include:
- Get a home in a great location below market price
- Getting a bargain on a home allows you to move to a higher priced area of town
- Get more bang for the buck with a larger home
- Opens up your search area
- Your home fits your taste and family requirements
A remodeling home loan allows you to make your current home into your home for the future. These types of loans allow you to roll the costs of the work you do into one new mortgage. No second lien required, most likely at a higher interest rate. Since this is a refinance, you can also capitalize on lower interest rates, move to a shorter loan term and possibly lower payments.
A fixed-rate mortgage offers an interest rate that is steady throughout the life of the loan. Fixed-rate mortgages offer the security of always knowing exactly what your monthly loan payment will be. The interest on ARMs can fluctuate (up or down) periodically. The interest rate on ARMs offers an opportunity to save on interest costs. However, you are protected from rates getting too high, because a safe ARM has annual and lifetime rate caps, which limit how high your rate may go.
This a decision you must make. Here is one way of looking at the question: If you can afford the payment and are comfortable with all the other terms, it makes sense to go ahead and firm it up IN WRITING. Do not be overly concerned if rates fall after you lock. If your objective is to purchase the property, you have eliminated one uncertainty. If you are refinancing, locking the rate guarantees that you will reduce your monthly payments or be able to obtain cash you need for home improvements or other worthwhile goals.
You can lock your rate at application, while your loan is being processed and approved, or any time shortly before closing.
Verity Mortgage offers lock periods up to six months on some loan programs.
PMI is required for conventional loans with a down payment of less than 20th of the value of the home. You can avoid paying PMI by making a down payment of 20 or more of the value of the property you want to buy.
PMI will be automatically terminated when the loan-to-value ration is scheduled to reach 78 assuming all payments are current. Borrowers can request cancellation of PMI when the loan reaches 78 assuming all payments are current. Borrowers can request cancellation of PMI when the loan reaches an 80 loan-to-value ratio, assuming the loan is current.
How do I know whether the house is in a flood zone, and if so, how can I determine my insurance premium?
Verity will order a flood certification before loan closing, as required by federal law. However, if you would like to find out if the property you are purchasing is in a flood zone, you can contact your insurance agent or check the local library for updated flood maps. FEMA determines flood risk by comparing your lowest floor level to flood levels from the past 100 years. FEMA bases flood insurance premiums on this information. You may need to get a slab elevation if you are unable to obtain this information from the seller or your local permit office
Annual Percentage Rate (APR) is a calculated interest rate that reflects the overall cost of a loan on an annual basis. APR includes interest payments, origination fees, discount points, and other specific costs of getting a loan and is, therefore, usually higher than the interest rate. APR can be useful for comparing different types of loans. However, while all lenders are required to calculate APR based on guidelines provided by the Truth in Lending Act, not all lenders include the same costs in the calculation. This can make it difficult to compare the APR for loan programs from different leaders.
Points, also known as “discount”, are funds paid at closing so that you can get a lower interest rate for the life of the loan. For example, you may be quoted a rate of 7.375 with 0 points or 7.000 with 1 point. One point is equal to 1 of the mortgage amount.
Closing costs are expenses paid, by both buyers and sellers, at the closing meeting. Closing costs include pre-paid taxes and insurance, discount points, origination fees, title insurance, and other fees that may apply to your loan.
Pre-paid items are hazard/homeowners insurance, taxes, and pre-paid interest. Most insurance is paid in advance, so you will be required to pay for your homeowner’s and flood (if required) insurance policy for the first year in advance. Also, the lender will require you to make a deposit of up to 2 months of payments in order to establish an escrow account.
Many loan programs require that the lender pay the taxes and insurance on behalf of the borrower. Your loan officer can determine if the option to pay taxes and insurance yourself is available on the loan program that is best for you.
MORTGAGE PAYMENT CALCULATOR
Estimate your monthly mortgage payment using the calculator below. Simply enter the purchase price of the home, loan term, and details about the home loan. Please note that escrow for taxes and insurance is not required for loans with down payments more than 20 percent. Some of this information may be difficult to determine on your own; please contact a mortgage specialist to review the most accurate monthly mortgage payment for the area you are purchasing.
Types of Loans
Streamline 203K: This is for projects where total renovations do not exceed $35,000. It is more for minor changes like upgrading HVAC, paint, fixing or replacing roofs, patios, septic systems or remodeling a kitchen. It does not allow for structural changes like foundation work.
Full 203K: This for projects that need to be more expansive in nature and may go over $35,000 in total renovations. It can be used for all the repairs from a streamline, but you can also make structural changes and reconstruction, repair or replace plumbing or use it to improve energy conservation, safety or disabled accessibility.
This is a great option when buying a home that needs a little TLC or you want to make your current home into your forever home.
What can a Homestyle Renovation help with?
- In-ground pools
- Interior and exterior upgrades
- Kitchen or bathroom upgrade
Program Flexibility: Conventional loans allow for different terms and down payment. Meaning you can customize your down payment, whether you have a first and a second or if you want to do one loan with Mortgage Insurance.
Program Flexibility: Conventional loans allow for different terms and down payment. Meaning you can customize your down payment, whether you have a first and a second or if you want to do one loan with Mortgage Insurance.
Loan Limits: Conventional loans are capped at a maximum loan amount of $453,100 for single-family homes unless the property resides in a High-Cost Area of the United States.
Second Liens Permitted: Another difference between conventional loans and the other programs is the ability to add a second lien to assist with down payment requirements. This also is a good option when buying a higher price house and need to go above the maximum financing amount in a non-High-Cost Areas.
Loan Limits: Loan amounts starting at $548,250 or $822,375 for home loans in high-cost areas of the U.S and loan amounts to $3,000,000 and above
A VA home loan is a great benefit to military personnel during and after their service. Thank you for your service and sacrifice for our country.
No Down Payment: A VA home loan comes with 100% financing. Contact one of our home loan experts for more details.No Mortgage Insurance: Unlike USDA a VA home loan does not have monthly or annually mortgage insurance.
Certificate of Eligibility Required: In an effort to make sure we use your Veteran Benefits properly borrowers must obtain a Certificate of Eligibility . The VA Benefits portal will be able to help you find this information or contact us and we can assist you in getting the info.
Low Down Payment: FHA loans are great for first time home buyers or home buyers that are working with limited down payment. A down of 3.5% is all that is required and can be a gift from a relative.
Flexible Income Requirements: The original goal in 1934 for FHA loans was to make home ownership possible. One way the program does that is by allowing for more flexible income and credit guidelines.
Loan Limits: FHA does have different maximum loan sizes by area. To learn more click on here to see what the Loan Limits are in your city.
No Down Payment: The USDA loan comes with 100% financing. A down payment is not required which can be an obstacle to homeownership.
Low Monthly Mortgage Insurance: The upfront insurance rate on a USDA is generally lower than VA or FHA. It also has one of the lowest annual mortgage insurance fees. Other good news is the upfront fee can be rolled into the loan, eliminating an out of pocket expense at closing.
Only available in certain geographic areas: To get a USDA loan, the property you buy has to be in a USDA designated rural area, but that does not mean it is necessarily farmed land. Over 90% of the U.S. is eligible, which includes small town and suburbs. The USDA Mortgage Eligible Map will show you all the areas where you can use this loan.
Income Limits: The USDA loan was originally designed for low to moderate-income families. The guidelines for USDA define income level as being 115% of the area’s median income. This income amount if very different in different parts of the country and can be very different in certain areas of a state. Please contact one of our home loan experts to learn more.
- Fixed Rate and Adjustable Rate
- FHA, VA, and USDA Loans
- Jumbo and Conforming Loans
- Conventional Financing
- Renovation Loans
Special Programs for Non-traditional borrowers also available
100% YES! This one decision will make the home buyer process go much more smoothly. The pre-qualification process is simple:
- Gather your personal financial information such as bank statements, W-2 forms and paycheck stubs, and meet with your Loan Officer.
- We will pull your credit report and evaluate your financial documents. With this information, you and the loan officer are able to discuss the best home financing options that will help you achieve your financial and homeownership goals.
- Once you are prequalified, we will give you a prequalification letter to inform your real estate professional and the seller of the property that you’re a preferred and serious potential buyer. This will give more weight to any offer you extend on a property as well as allow you to relax and enjoy the process of looking for your new home.
- How long will you live in this home? Several years, or just a few?
- Do you anticipate your income or finances to significantlychange over the next few years? Do you anticipate significant changes to your income or finances over the next few years?
- Are you either comfortable or uncomfortable with an adjusting monthly mortgage payment? Have you considered an adjusting monthly mortgage payment?
- Do you plan to be out of mortgage debt by, for example, when your children start college or when you retire?
Based on your answers, your home loan expert can discuss different home loan programs that will suit you financially and help you reach life’s milestones.
An FHA loan, on the other hand, is guaranteed by the Federal Housing Administration. FHA is a government agency that works with approved lenders like us.
Typically, origination points are applied and disclosed at the time of locking in an interest rate. On the other hand, discount points can be added at the time of lock or later in the process if you choose to pay to reduce your interest rate.
Origination fees are the fees required to originate the loan. They can include processing fees, underwriting fees, administrative fees, and several others. One of our Loan Officer can give you a complete breakdown of these fees as they vary from state to state.