Exceptional service! Prompt. Informative and knowledgeable. Always have be best interest at heart. Absolutely the best.
Asia C Dec 01, 2021
Tracey Goins and Noemi are the ABSOLUTE BEST!! Thanks for the experience!!
LaNeka C Dec 01, 2021
My whole experience went smooth. Anytime I had a question it was answered quickly!
Katrina F Nov 29, 2021
Tracey and Noemi were very helpful and sweet throughout the entire process.
Alexia W Nov 11, 2021
Everyone was very helpful throughout the process.
Ebony P Nov 10, 2021
I’m so glad Mrs Tracey & team made this experience a smooth one for us even when we became frustrated and overwhelmed at times she reassured us that it would be fine. We really appreciate everything throughout this process and we’re forever greatful.
Ashiya G Nov 05, 2021
The process was smooth. I thought i had some kinks but everyone helped me figure them out
Bre'Ane B Nov 05, 2021
Jermaine J Nov 01, 2021
Everyone was so nice and easy to speak with Tracey and Noemi were the absolute best. There was not one question that was asked that they did not answer and always did everything in their power to get any issues resolved quickly
Monica W Oct 20, 2021
The consistency of communication
Demond C Oct 07, 2021
Tracey was absolutely phenomenal!
She made our home buying experience a breeze!
Joyonna W Aug 07, 2021
The communication between parties keeping us up to date every step of the way.Made our home buying experience stress free and exciting. Tracy I will like to say THANK YOU to you and your team. You all was amazing.
Trent A Aug 04, 2021
Thank you so much for everything from being patient to answering all my questions. Definitely made it a smooth process.
Alannah H Aug 03, 2021
They made sure everything for me ran smooth as possibly and in a timely manner. My questions and concerns was addressed.Awesome all the way around the board. I couldn’t have chosen a better Loan officer/officers.
Tremeka M Jul 20, 2021
Ms.Goins was very helpful. The communication was great throughout the whole process.
Treneshia H Jul 07, 2021
Tracey and her team was amazing as always!
Cris W Jun 19, 2021
Tracey gave us the greatest home buying experience ever! What I appreciate the most is that we were overly prepared and educated throughout the entire process. There were no surprises; we knew what to do on our end and she worked flawlessly on her end. We will definitely be recommending her to help others accomplish the goal of home ownership.
Malita G Jun 09, 2021
The service and professional that Tracey and Naomi shown us was outstanding. We thought that we was a part of the finances team and we had a great time getting to know each of them. They may sure we received the best experience. Thanks Tracey and Noemi for all you all help.
Demetra B Jun 05, 2021
Mrs. Tracey is a very awesome and helpful person
Kendra J May 27, 2021
Tracey and Noemi worked to get the job done. They communicated very well with us through the entire process.
Catina F May 24, 2021
Tracey was absolutely phenomenal! She was very thorough and precise. Tracey made this process enjoyable and definitely surpassed my expectations. I can not thank you enough!
NiJa B May 21, 2021
GREAT SERVICE!! GREAT Communication skills! Overall a Great first time EXPERIENCE for me!
Simara M May 11, 2021
This was certainly a stress free process. Tracey was the best. Always available to answer any questions I had and made the first time home buying experience a breeze.
Bernadette C May 10, 2021
Joy S May 07, 2021
Tracy was very knowledgeable and professional. She addressed any concerns immediately. This was an extremely smooth process.
April S May 04, 2021
1. Extremely personable
2. Honest and direct
4. Explained the loan process flawlessly
6. Goes the extra mile when needed
LaQuisha C Apr 20, 2021
Tracey and her team was phenomenal. Tracey was there whenever I had questions are needed anything. Communication was fast and always friendly. Tracey is very knowledgeable. She made my home buying process easy. I love me some Tracey and I can’t wait to refer family and friends to her.
LaKoshia B Apr 19, 2021
The service & communication was awesome thanks Tracey
Joe H Apr 19, 2021
Tracey is amazing!!! I thoroughly enjoyed working with her.
Carnelius P Apr 19, 2021
Tracey explained everything so thoroughly. She made it so easy to ask questions! I learned a lot about purchasing a home that I did not know before.
Regina A Mar 29, 2021
It’s always a pleasure working with Tracey Goins & her team of experts. Thank you all for always being so diligent through the entire process.
Melissa W Mar 29, 2021
Everything was done in a good and timely order. Tracey and Noemi were very nice and professional! Overall made my experience and the process very easy!
Brandon B Mar 22, 2021
Tracey made my process less stressful. Always gave an update when asked. I’ll make sure to refer people so they could have a great experience just like I did.
Kamecha B Mar 22, 2021
My experience with Tracey was wonderful. I will recommend her to my friends and family.
Ruthye H Mar 12, 2021
Communication of the process was great. Not to mention we closed EARLY!
Kisha H Mar 09, 2021
Tracey was great I would definitely recommend her she made this process easy!
Latisha C Mar 09, 2021
When we close
Don W Feb 26, 2021
Ms Tracey was on top of game. She kept me updated with everything. She was always there to answer any questions that I had. She made sure I had a clear understanding before I signed anything lol. She was awesome
Bianca J Feb 22, 2021
I was a little on edge due to it being my very first time purchasing a home. Tracey was still very patient and kind with me throughout the process. She kept a polite and friendly approach no matter how many questions I asked or how many times I asked the very same question.
Jazmin S Feb 22, 2021
Tracey was a pleasure to work with. She is very knowledgeable and I love her happy spirit. She made sure my loan process was smooth. She’s the Best!
Ashley T Feb 05, 2021
Tracey was such a pleasure to work with. She answered every question and kept me well informed every step of the way. A huge commitment like purchasing a home is stressful enough. Tracey made the experience very comfortable which was comforting. I have already begun passing her information out to friends and family.... Thanks for being awesome and amazing Tracey!
Georgetta H Jan 22, 2021
I love that you keep agents updated on the status of the file so that we don’t have to question what’s going on.
Cris W Jan 16, 2021
Tracey was very helpful and gave excellent service overall! I will definitely be referring more clients over.
LaTonya J Jan 02, 2021
Tracey was AWESOME! She was very knowledgeable and kept me updated every single step of the way! She was very patient with me!! I am forever grateful for her! She got us in our home before Christmas!
Cathy M Dec 30, 2020
Tracey was informative and communicated effectively throughout the process. This really gave peace of mind throughout the home buying process
Courtland B Dec 23, 2020
Very Professional Service
Michael L Dec 22, 2020
Ms. Goins was very professional and pleasant to work with. I really appreciate her patience through the whole process.
Lois C Dec 22, 2020
Mrs. Goins is an excellent loan officer. She very efficient and willing to go the extra mile for her clients. She is easy to work with and very motivated. Mrs. Goins is also professional and willing to go over and beyond to get the job done.
Merian C Dec 21, 2020
She was very professional and helpful
Lee C Dec 18, 2020
Tracey is the best!!🤩🤩
Chadwick E Dec 12, 2020
Tracey was always available to help with any questions that I had. Her and Noemi definitely made this process smooth and easy.
Camrinesha I Dec 10, 2020
Everything was excellent
Jeremy J Dec 07, 2020
Beautiful personality and excellent customer service skills. Tracey is very patient and understanding and is always available to answer questions that are needed.
Markeeta T Dec 07, 2020
Excellent communication and seamless process.
Meadow S Dec 02, 2020
I ultimate goal was to be in my own home for Thanksgiving and my team made sure of that! Thanks for everything!
Tiffany P Nov 26, 2020
Tracey was an absolute pleasure to work with. There wasn’t a question left unanswered & she was always available when I needed her.
Tomeka J Nov 22, 2020
It was extremely pleasant working with Tracey Goins. She was very responsive and knowledgeable. I fell like she was fully engage and committed to helping both me as the agent and of course our mutual client be successful. I cannot say enough good things about Tracey and how smoothly our transaction was executed.
J.E. D Nov 17, 2020
Mrs. Tracey was AMAZING!! She was very knowledgeable and kept us updated through every step. She was always there every time we reached out to her and she responded very quickly. I will use her again and refer her to anyone!! Thank you Mrs. Tracey!!
Manuel P Nov 10, 2020
At first I was nervous to contact Mrs Tracey. She made every conversation feel so natural. Mrs Tracey was so professional and enthusiastic to provide services to me. My experience was exceptional and I would highly recommend her when looking for lender.
Shakera D Nov 10, 2020
Sidney D Nov 10, 2020
The whole process was amazing! I learned so much it’s shocking. I would definitely stay with the same person in the future!
Brittania C Nov 07, 2020
Great communication. Will definitely refer future clients. Thank you for a great transaction.
Dannlleshia P Oct 24, 2020
I like Tracey Goins! She went above and beyond to help me from day 1!
Kenneth B Oct 23, 2020
Tracey is amazing! She is very dedicated to her job.All you have to do is follow her steps and you will make it to the finish line! Thanks
Juan M Oct 23, 2020
She was pleasant hands on on everything that’s how I like it done followed up on calls text emails whatever was needed she was available anytime it didn’t matter answered all questions when needed overall she was great all of her team everybody she was excellent will recommend to everyone I come in contact with thsts looking to buy
Walter A Oct 23, 2020
Tracey is so knowledgeable and patient. She is able to advise on any situation and was always available to answer questions. I always felt like I was a priority to her. She communicated with me from start to finish on what to expect and everything she advised on worked out just as she said it would. Tracey is a gem in this industry and anyone that has the opportunity to with with her will be thoroughly impressed!
LaKeisha B Oct 13, 2020
Tracey was very professional & honest. She’s a very hard & dedicated worker. She also works at the best of her ability. I felt very confident with Tracey as my lender. I highly recommend her.
Ashanta S Oct 04, 2020
Tracey took the time to find out what would work best for my family.
Shana S Oct 04, 2020
She took time and help me the best way possible till the end.
Shaquita E Oct 04, 2020
Tracy was very helpful through the whole home buying process . She was very professional I would refer anybody to her. She’s the best!!!
Malik R Oct 01, 2020
Tracey Goins is great she will get the job done. I have already told friends when they are ready to buy a home I can send them to Tracey.
Kristen M Oct 01, 2020
Tracey is a master communicator and truly works hard to ensure my clients of the best experience possible.
My clients are constantly raving about their experiences with her and the team and that’s the reason why I have trusted her with my business for as long as I have and plan on continuing for many years to come!
She is the Best In the Business!
Nodgela T Oct 01, 2020
Tracey was absolutely amazing ! She was extremely helpful and answered all my questions in a timely manner. This was the best closing experience I ever had. I would highly recommend her.
Keola T Sep 27, 2020
Tracey and her team was amazing as always! Thank you for your hard work and dedication.
Crystal W Sep 17, 2020
Tracey is quick to respond and very helpful with explaining the process. Really enjoy working with her!
Julie L Aug 25, 2020
Tracey Goins and her Team were great. She was always available to answer any question I had. She was very professional and informative.
Shatoya P Aug 14, 2020
Ms. Tracy and her team are HEAVEN SENT. They go above and beyond to help you in every way they can. They are truly genuine and helpful!!
June W Aug 11, 2020
Great communication and willingness to help!
Tangela G Aug 10, 2020
I received great service since the first point of contact. Tracey was always willing to help and very knowledgeable.
Brinney D Aug 10, 2020
Bruce M Aug 10, 2020
The communication. The overall experience was excellent!
Tajia C Aug 10, 2020
Tracey and her team provided excellent service! Everyone worked very diligently to make sure my first home buying experience was as smooth as possible.
Alexandra C Aug 09, 2020
Tracey and staff were amazing!! They were very quick with everything and made sure I was informed every step of the way.
Jasmine J Aug 08, 2020
Tracey was very knowledgeable and polite . My wife and I felt like we were working with a close friend throughout the process . Highly recommended!!
Alvin S Aug 07, 2020
Mrs. Goins was phenomenal I tell everyone about her and her team. I love the home my daughter and I are in. Thanks so much for making my dreams come true!!
Tiffany W Aug 07, 2020
Communication between the staff
Irvin R Aug 07, 2020
Tracey is someone the I trust because of her experience and expertise to ensure a smooth lending transaction for all parties during a purchase or a refinance. I will always work with her concerning any of my home lending needs as well as refer to her my friends and family.
Angela M Dec 22, 2019
Where do I start from start to finish she was a call away! Answering all my questions even the crazy ones that I know the answers too. Always could hear her smile through the phone. There’s not a person I wouldn’t refer to her. She’s the absolute best!!!
Lincoln W Dec 17, 2019
Tracey was very professional and very easy to talk to.
She explained the entire loan process from start to finish.I
Would highly recommend her. She answers all my questions even after business hours. Thank you for making my dream come true. 👏🏽💯
Nkowan D Nov 04, 2019
Tracey was a pleasure to work with. She was professional and kept me informed throughout the process.
Tandra P Oct 31, 2019
Kisha H Oct 28, 2019
Ms Tracey helped me out in everyway. As a first time buyer she made my experience very easy
Brandon W Oct 16, 2019
She took care of us as if we were family. She stayed in constant communication with us and made sure we understood the process. I’m happy we were paired with her she was amazing.
Raquel Y Oct 08, 2019
Tracey was awesome she answered every question I had to ask. She and her team made our home buying process very easy. I will always send friends and family to Tracey if they are ever looking to buy a home. She went to above and behind to make sure me and my family got into the home we wanted thank you Tracey and Verity Mortgage.
Walter Y Oct 07, 2019
My experience was exceptional! The clear line of communication made everything so much easier! Tracey was very informative throughout the entire process! It was smooth! We will definitely refer your services to everyone! Thank you again!!
Ashley P Oct 07, 2019
A whole lotta PATIENCE 🤙🏿
Linda P Oct 02, 2019
Tracey is a truly all around great person!
Tina C Sep 30, 2019
Tracey is knowledgeable and professional. Thank you!
Kaibeh L Sep 26, 2019
Tracey was extremely professional and I am honored to be her client. Her service was exceptional and I will be working with her again in the future. I have already referred my friends and family to her. She truly cares about her clients and is passionate about her job. I’m so happy I got to meet her! She made my home buying process a great experience.
Sade S Sep 25, 2019
Everything was fast and exactly what she said it would be. She made sure that I received the best deal available to me.
Teron S Sep 25, 2019
Tracey has a great team. They handled my home purchase professionally and kept me informed every step of the way.
Ashley S Sep 21, 2019
Tracey is dedicated to providing excellent service to all of her clients!
Ashley S Sep 18, 2019
Great people to work with. They helped guide us through every step of the process.
Ezra L Sep 09, 2019
She was very informative and very professional
Toi W Sep 08, 2019
Very professional and friendly!!! Answered all my questions. Process was smooth and pleasant!!!!! Awesome Service!!!!!
Dominique B Sep 05, 2019
Tracey is EXTREMELY easy to work with. She goes above and beyond to make sure I and my clients understood everything and to get what they wanted. No doubt in my mind that I would recommend her to anyone with questions on buying or refinancing. As a realtor she’s my preferred lender!
Kanieces E Sep 03, 2019
It’s always a pleasure working with Tracey and her team!
Melissa W Aug 19, 2019
Tracey was amazing with the entire lending process. She made sure I understood everything that I had questions about. Responses are prompt. I would highly recommed Tracey.
Tamirion R Aug 01, 2019
Tracey and her team consistently communicated with me throughout the home buying process. I was supported and provided with pertinent information which assisted me with better understanding.
Andre P Aug 01, 2019
Tracey was AWESOME!!!!
She let us know up front exactly what we needed to get done in order to make the process as smooth as possible.
She kept in contact with us and made sure we were on the right track to purchasing our new home!
By the end of our transaction we felt like we had been knowing her for years!!!
Her service is highly recommended!!!
Kimberly M Jul 23, 2019
Email follow ups
Team being in communication with all parties
Laterria P Jul 23, 2019
Tracey Goins made the process easy to me. And she didn’t sugar coat anything. I really enjoyed working with her. And when I decide to purchase a new home I will only deal with her. She was great to work with and very funny lol.
Travor D Jul 23, 2019
Save time for everyone by update status in the time manner. Good communication and fast respond. Highly recommend
Loc T Jul 17, 2019
Tracy is Everything
Justin G Jul 13, 2019
Very accessible and answer every question nd concerns
Annie L Jul 08, 2019
Very smooth transaction. Excellent communication from start to finish.
Faron J Jul 05, 2019
Tracey came in at a crucial time in the home buying process and made it all better. She was upfront and professional; she was kind and patient; informative and knowledgeable as well.
Harinika S Jun 04, 2019
She made everything so easy to understand and the process went very smoothly...
Remon W Jun 04, 2019
Tracey was professional and helpful. I’m very pleased with her service.
Dequincy R Jun 01, 2019
Tracey made our home buying experience wonderful! Her professionalism and attention to detail made me feel at ease during this process. My husband and I are SO THRILLED that Tracey and her team of Avengers got us to closing swiftly and with no problems. I highly recommend her services!!
Antigone D May 19, 2019
The attention Tracy takes to understand you personally to address all your needs and wants.
Princess W May 18, 2019
I ABSOLUTELY love Tracey!! Her professionalism and her knowledge is through the roof!!!
Lisa M May 17, 2019
Everything about the process was great. Mrs. Tracey really went above and beyond to make sure I was comfortable and I understood everything. I have and will continue to recommend people.
Courtney H May 17, 2019
Tracey is amazing! She walked me through every step of the process and helped me to make informed decisions. Tracey also maintained consistent communication and made me feel comfortable...which was of utmost importance! 5 Star Treatment! Thank you Tracey!!
Niya W May 13, 2019
My experience with the Verity team was very nice and I learned a lot with the Homeownership process. Very knowledgeable and understanding
Madelyn J Apr 22, 2019
I definitely appreciate the excellent customer service and professionalism throughout this journey to home wmownership
Jarrett L Apr 18, 2019
She was very informative and took time to explain the process of do’s and don’t. I was very pleased ✨✨✨✨✨✨✨✨✨🌟💫
Tanya F Apr 08, 2019
Ms Tracey was there every step of the way. She answered any and all questions. Even when I called after business hours she was prompt. Her service was great and she was very knowledge.
Nicholas S Mar 23, 2019
Tracey Goins in her team are awesome!!
Karl T Mar 09, 2019
Tracey Goins walked us through every step in securing our home loan. Credit report issues was handled with ease because of her due diligence. She made the process painless!!
Angela T Mar 06, 2019
She help us a lot
Zenon R Mar 06, 2019
She made the process easy and addressed all of our concerns.
Dorsett S Oct 23, 2018
Tracey made my first home buying experience very pleasant. She was very knowledgeable and informative. I really felt like she had my best interest in mind. Whatever I didn’t understand she took the time out to explain to me. This experience was very professional and I will definitely refer her to any one that’s in the market for a new home.
Beckwith M Oct 04, 2018
Tracy is amazing. She is very professional and transparent . She guides me through the funding process and I was able to get everything done quickly and effectively.
Hurst D Sep 28, 2018
Mrs. Tracey and her staff were very professional and helpful during my home buying process!!! I will recommend them to everyone I know that is trying to purchase a house.
Broussard C Sep 27, 2018
Tracey was available whenever I needed her and was thorough with her responses to questions assuring I understood everything! She constantly checked in making her presence known and keep me informed the whole time! Her customer service skills were awesome!
Smith K Sep 24, 2018
One of the best services I have received in the mortgage
Industry. Tracey was very professional and personable throughout the home buying. Thanks
Okogbaa J Sep 04, 2018
Our experience was painless. Tracey is AWESOME!
Brumfield A Sep 04, 2018
Was so much help!!
Robinson T Aug 31, 2018
Thanks I really appreciate you....... You are really good at your job & very professional
Varmall C Aug 04, 2018
My experience with Tracy and her team was awesome she made everything so easy for me I will recommend her to everybody she has become a friend of mine and I love her if you’re looking for someone to help you get into your home she is the one to go to.
Shelton Y Aug 03, 2018
Mrs. Tracey went above and beyond for me I would highly recommend her to anyone looking to buy or sell a home she’s the best. Any question I had she made it very clear of what was going on. She is also great with communication she made buying my first home a breeze.
Cornelius B Aug 02, 2018
Tracey provided us with all the information necessary to feel comfortable with the financing options of being a first time home buyer. Letting us know of grants and offers available to us that we did not know of.
Albert J May 31, 2018
You guys did a great job! 🙂
Williams A May 01, 2018
Tracey was Amazing. Very professional and efficient. She was available and always willing to help answer any questions. Best lender ever!
Seaverson T Apr 18, 2018
Mrs Tracy and her team were the most informed courteous people I have ever worked with. they explained the entire process and made me feel absolutely wonderful about it all even the things that I was unsure about. I would highly recommend them. thanks again for being so great at what you do.
Hill K Apr 03, 2018
Tracey was available at my time of need to answer all of my questions and she is a very good communicator
Hardy S Feb 16, 2018
I was guided through the entire home buying process. When I thought it couldn’t be done Tracey came in like an angel.
Frances Y Jan 04, 2018
Mrs. Tracey went beyond my expectations and made my first time purchasing a home an awesome experience.
Boudreaux K Nov 13, 2017
I had a great experience with purchasing my first home because Tracey explained every single thing to me and was always available to communicate as need.
Antione M Sep 27, 2017
Tracey communicated openly with me through the entire process. She was great at answering all the questions I had. She felt earnest and sincere. I would definitely recommend her to friends.
Debby C Sep 18, 2017
Tracey is very professional at what she does. She is organized and responds in a timely manner. She went above and beyond to make sure we were comfortable and satisfied.
Travis F Sep 15, 2017
Tracey is very knowledgeable and pleasant to work with. She know what it takes to close a loan. I would definitely send her referrals.
Densic H Sep 15, 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 of less 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.