The team was very friendly and always responded quickly to any questions my husband or I had thru the whole process
Tammy B Jan 14, 2022
All of our questions were answered quickly and were explained well. Excellent communication throughout the entire process.
Mackenzie G Dec 03, 2021
consistent communication with accurate expectations
Michael O Nov 12, 2021
The way we were treated with respect.
Deborah F Oct 04, 2021
The communication and clear instructions on all what was needed.
Russell H Sep 08, 2021
John and his team worked with me too make sure I got the best deal for a refinance.
Alexandra W Sep 04, 2021
Communications were great!
Felt they really cared about us as a customer.
Would Highly recommend!
Richard H Jul 26, 2021
Great company they know how to get it done
Vicki D Jul 23, 2021
Very reliable and trustworthy. Good business 👏👌👍
Anil D Jul 23, 2021
Communication was great. John and his team made this experience and process smooth.
Felipe L Jul 21, 2021
From the first call to the last call it was incredible support.
John laid all the information out perfectly so that we understood it because we haven’t done this before. His team was on top of everything each step of the way.
Colton C Jul 20, 2021
Always a pleasure sending clients your way service is always fast courteous!
Ashley C Jul 02, 2021
Fast and pleasant serviced. Highly recommend!
Freddy H Jun 28, 2021
Everyone knew their jobs. Very friendly and courteous.
Larry C Jun 25, 2021
Everyone was super helpful and very friendly! They made what is usually a very stressful process so easy for me. Any questions I had were addressed the same day. I could not be happier with their service!!
Kingsley M Jun 22, 2021
Your knowledge and experience gave us peace of mind in moving forward with you and your excellent team members! Thank you for a wonderful experience!
Juanita C Jun 22, 2021
Always a great experience working with John and his team! Good communication with all parties. They work hard for the buyer to ensure the best loan terms for them and to ensure a smooth transaction. Looking forward to the next opportunity!
Sandy J Jun 19, 2021
You all were very forthright and responsive even when things did not go as planned. We had a couple of snags in the process but you all were very quick to take responsibility and solve the issues. Really appreciated everyone I had contact with on the team.
Nathan M Jun 08, 2021
John and the entire team made the home buying process as easy as possible!
Nicholas S Jun 07, 2021
John and his team are extremely knowledgeable and and professional. Always responsive. I highly recommend John to all my clients.
Coldwell B Jun 07, 2021
I bought my first home with their help. Didn’t understand a lot of the technical jargon. They worked with us every step of the way. Just remember to ask them your questions so you won’t be confused
Samuel C May 15, 2021
Great Experience. Great Communication. Crystal and Jasaka did a great job
Charles D May 11, 2021
Jasaka and the rest of the team were always on top of things and very communicative throughout the loan process. Loved working with all of them!
Thomas H May 07, 2021
Great job guys! To help a buyer under 250k with an FHA in this market is a tremendous testament to commitment to help all clients with equal hard work and respect.
David P Apr 06, 2021
You guys are always on the ball. Anytime I need something one of yall is there to help and answer any and all questions. I recommend you guys to all my clients! Keep up the great work
Cori Z Mar 26, 2021
John and his staff are always there for my clients!
Debi D Mar 10, 2021
John Hardimon and his team are amazing!!! They make dreams come true!! Jasaka Courtney amazing ladies and are fast and always answering your calls when you have a question. Loved our whole process and would definitely continue sending people there way!!! John Hardimon and his team are the way to go if you want to become a homeowner thank you guys and ladies for all you do!!
Saul C Mar 09, 2021
Timely and personalized service.
Naveen M Feb 22, 2021
Communication was excellence. Courtney Leonard jumped out to help us immediately!! I am pretty sure she worked over the Christmas holidays. She began the process with commitment and great customer service.
Sheri W Feb 04, 2021
Everyone was friendly and helpful!
Elizabeth D Feb 04, 2021
Very easy to work with John and his team. Everyone was very on top of things and I didn’t not feel like there were any issues at all during the process.
Dmitry K Jan 22, 2021
The Communication was great.
Michael K Jan 12, 2021
Mr John was great to deal with!
Adrian Z Jan 09, 2021
It was a pleasure to with John to refinance my house. He made the process fast and easy. I got a great interest rate with low closing costs!
April C Jan 07, 2021
John helped me so much with closing on my new home. We only had about 3 weeks to get the entire loan done and he helped push things through quickly. The whole process was smooth and easy to understand. Thank you again John and Jaska!
Rachel R Jan 03, 2021
Excellent communication from all parties made this process as simple as possible.
Salanna R Dec 30, 2020
Excellent communication and wonderful staff that walked you through any loan option or questions you might have. We would highly recommend using their services!
Mark D Dec 30, 2020
Great job. Wonderful people!
Mack P Dec 07, 2020
John and his team were great! They kept in constant communication. They worked quickly to meet our closing date!
Abram M Dec 05, 2020
John and his team were professional every step of the way. This is the second home he has helped us purchase and we couldn’t be happier!
Don C Dec 03, 2020
All the Hardimon staff were great to work with.
Billy L Dec 02, 2020
Quick response from John and his team! Everyone was respectful. They were able to quickly answer my questions
Elisse D Dec 02, 2020
John and his team are rockstars!
MICHELLE D Dec 02, 2020
His team is amazing and a great job guiding me through the process!
Amy M Dec 02, 2020
I had a great experience with John and Eddie. They helped me a lot through a hard time of trying to buy a house. They were always there to do a quick new pre qualification letter for each offer I put on a house and they were always there to answer any questions I had. I highly recommend them!
Heather K Oct 23, 2020
John and his team made our refi process simple and hassle free. Will definitely recommend!
Sarah C Sep 25, 2020
I worked with John on my original mortgage 10 years ago and a refinance this year. He and his team are a knowledgeable and responsive group of professionals and they were a pleasure to work with. I highly recommend him for your future mortgage needs.
John H Sep 21, 2020
John and his team were readily available to answer all of our first time home owner questions right down to the finest of details. Every one was quick to reply to emails and even faster at returning phone calls. They not only matched our excitement but they kept us calm and informed every step of the way.
David B Sep 20, 2020
Everyone worked hard on the team to give us updates and continue to help us past all the hurdles we came across.
Cheryl H Sep 18, 2020
The whole Hardimon team was awesome. Everyone was responsive and worked hard to get the deal closed. Thank you!!
Leslie L Sep 17, 2020
I am so impressed with the entire team from start to finish. The communication and teamwork were top notch. It was easy to upload my documents. There were no surprises and note we are saving so much money.
Elizabeth H Sep 16, 2020
The team was easy to talk to and quick to answer my questions.
Henry P Aug 26, 2020
Always the best service from John and his team!
Stephen S Aug 17, 2020
The always kept me in close communication along the process. They were reachable and very personable.
Ivan D Aug 12, 2020
Yall were on top of the whole process for my clients. You stayed in constant contact and were available when we had questions. Thanks for being awesome. You have an amazing team!
Cori Z Aug 03, 2020
Our benefits and interest were the priority and the communications was ongoing throughout the entire process.
Brian M Jul 19, 2020
For us not to have had to go to Dallas and wear a mask.
Melanie S Jul 02, 2020
Absolutley love this team and my new home.
Rebecca B Jun 19, 2020
Great communication throughout the whole process. Very professional staff.
Irineo M Jun 19, 2020
John and his Team really went out of their way to help me through this transaction. I am truly grateful to John and his team for all of their work and great communication
Peter D Jun 04, 2020
Quick and easy with great communication.
Christopher D May 26, 2020
great communication and follow up; all staff were helpful and prompt
Wendy D May 26, 2020
Judith M May 25, 2020
John was very professional and kind in every interaction we had with him. Pleasure to work with.
Lyndsey G May 15, 2020
Awesome job!!! Super fast. Highly recommend.
Jon F May 14, 2020
Could not have been more happy with John and his team. Great communication and got me the best rates possible. Very carefree and no stress at all. Highly recommend John for your financing needs!
Nathaniel G May 14, 2020
Very timely response during their office shutdown.
David D May 06, 2020
The communication was great everyone kept me inform of the process and educated me on what to expect next.
Jeny R May 02, 2020
John and his team made the process easy and got us an incredible rate!
Cheryl S Apr 27, 2020
John and his team are the most passionate and knowledgeable people in the business. My wife and I wouldn’t even think about using anyone else!!!
Damien S Apr 26, 2020
Amazing!! Once again!! 🙏🙌🏡
Bettina H Apr 26, 2020
John and his team were very communicative during the whole process. We appreciate the hard work and care.
Joseph R Apr 24, 2020
John was very quick along with very informative. I will look for him the next time I but property and refer to all my friends and family!
Cristian R Apr 23, 2020
Love working with John and his team. John is so knowledgeable and will explore all options to see which fits best for your family.
Jordan P Apr 21, 2020
Everyone was extremely pleasant to work with and the communication was excellent. It’s so nice to work with such unbelievably nice people such as John and his team.
Tanya R Apr 21, 2020
Everything was smooth and honest. No complaints whatsoever.
Christian O Apr 21, 2020
Keeping me updated I always knew how my loan was going.
Rosemary V Apr 21, 2020
Quick and efficient. A little mistake at the end but we worked together to correct it quickly. Still funded on time.
Nicole P Apr 20, 2020
John was informative and gave us good advice.
Dana J Mar 29, 2020
Very fast service and employee knew the business very well
Kathy R Mar 26, 2020
John and his team were on top of it from beginning to end. Communication was superb and they made the entire process smooth and easy!
Bethany L Mar 06, 2020
The team was engaged and helpful every step of the way. And we got an outstanding rate.
Jacob P Mar 05, 2020
Great staff results in super support.
Kathryn W Jan 31, 2020
Great job and friendly service.
Jason A Jan 30, 2020
John and his team got the job done quickly and professionally. Thanks for the great work.
Casey C Jan 30, 2020
Communication and hard work every day.
Elizabeth H Dec 10, 2019
Great team! Great service!
Robert B Dec 05, 2019
Lisa B Dec 02, 2019
I had a great experience working with John and his team. They are extremely professional and dedicated. I will definitely reach out to them for future transactions and referred them to my friends and family.
Argelia R Dec 02, 2019
Amazing service once again!!
Bettina H Nov 19, 2019
John and his team handled my clients with such good care. They handled somewhat complicated issues with ease and made the client feel comfortable! Would definitely refer them!
Derek P Nov 14, 2019
Jasaka went above and beyond working late to ensure my clients file closed on time. Everyone involved truly appreciated the extra efforts as I know this file was not a cookie cutter file.
Patricia M Nov 11, 2019
John and the team at Verity Mortgage were outstanding! We had a smooth transaction and my clients are extremely happy with their beautiful new home!
Degie W Nov 11, 2019
Doing my Mortgage with Verify and the Hartimon Team was such a breeze. It was the simplest mortgage transaction I have ever had. I love the scanner application so much! It made it so easy to get my documents to Verify. I also loved working with Jasaka! She was such a reliable guide through the process! She was on top of everything and so readily available. Her friendly way combined with her expertise took so much stress out of the process.
Michelle B Oct 28, 2019
John Hardimon and Jasaka helped me through the entire process. They were very kind and answered all my questions. I would recommend John and his team. Everything went smooth and I am now moving into my forever home!
Judith O Oct 03, 2019
Great communication and friendly staff.
Riley B Sep 30, 2019
John and Haley were both very professional & friendly. They kept us up to date on forms needed and where we were in the process. They followed through on what they said they were going to do.
Bethany B Sep 26, 2019
John’s extremely knowledgeable when it comes to extra mortgage options that are appealing for customers that are managing their money.
Charles R Sep 16, 2019
Follow up and constant contact made our experience easy!
Donna L Sep 04, 2019
Was a smooth process and closed on time
Matthew L Aug 29, 2019
Very organized and planned out. Great communication throughout the whole process. No surprises.
Brianna E Aug 22, 2019
John and his team are great! They were there for us every step of the way and made the loan process super easy!
Thomas B Aug 16, 2019
Had a great experience in my home buying process. Would definitely recommend to my friends and family
Greg F Aug 08, 2019
Great service and response to needs.
James D Aug 07, 2019
John and team had all the answers and time for us.
They exceeded our expectations !!
Josue H Jul 25, 2019
John and Haley are some of the most professional people I have ever worked with!
Jeffrey G Jul 20, 2019
It’s a pleasure to know that my clients and myself are in great hands.
Debbie P Jul 10, 2019
The communication was great: timely and clear. The entire process was easy and excellent!
Ann W Jul 06, 2019
Everyone was on top of everything.
Sefe H Jun 26, 2019
John and team were so responsive and had a quick turnaround for us. The process was so streamlined and easy to complete from start to finish.
James S Jun 07, 2019
John was very responsive and helpful throughout the entire process. The overall experience was great.
Michael O May 18, 2019
Great working with John and his team! The whole process was easy!
Michelle R May 07, 2019
John and his team are awesome! We have worked with them in the past as well and they are great at getting the loans closed quickly . I would highly recommend them to any of my friends and family members!
William W Apr 29, 2019
The communication was fantastic . Made us feel very comfortable and easy no headaches
Robert G Apr 14, 2019
Smooth process from start to finish. Easy closing with little hassle.
Aaron B Apr 06, 2019
Constant communication during the process. Any time of the day.
Alexander S Mar 26, 2019
Made buying a home super easy and walked us through the process.
Jacob M Mar 09, 2019
The entire team was very helpful and always willing to answer any questions we had. They treated us like we were friends or family.
Arthur A Mar 09, 2019
John and his team are a pleasure to work with. They always answer the phone when you call them and do everything they can to get an answer for you when you have a question.
The entire experience was incredible and went as smoothly as you could expect It to.
Michael V Feb 25, 2019
Every step of the way there was great communication on what I needed to do next and where we were in the process. There were no surprises and John’s team did a wonderful job helping me secure my loan at the best rate available. Their customer service is top notch.
Tonia M Feb 15, 2019
Everything went extremely smooth without any hassle! Thank you for everything!
Lorraine B Feb 01, 2019
John and his team were there for me with every step and every question I had. Couldn’t have asked for a better team to work with.
Clark G Dec 11, 2018
The staff made it great. They were quick to reapond to emails and answer questions. They also kept us on task to ensure everything was done for closing.
Shelli R Dec 04, 2018
You have a great team!
Glynn B Nov 29, 2018
We have used John to purchase our last 2 houses and have been very pleased with the process.
Sara C Nov 26, 2018
Great to work with
Allen J Oct 27, 2018
The team made us feel at home from day one. They were very interactive with us and our son ensuring we were comfortable and had the tools we needed. They gave us many options which helped us in deciding what kind of loan was right for us! Thank you John Hardimon team for helping us aquire our very first home!
Benton S Oct 09, 2018
Thank you so much for the great experience!
Landge R Sep 28, 2018
John and the team were amazing. I would recommend them to anyone.
Jennings T Sep 28, 2018
Great to work with such knowledgable people! They know their business well and can get things done right!
Rowlett J Sep 12, 2018
Very smooth transaction!
Manderscheid C Aug 27, 2018
Everything was simple and easy until 2 weeks before closing. John was great and reassuring.
Williams D Aug 04, 2018
The communication from this group is outstanding. They kept us up to date on each step of the process. They made it possible for us to buy the home of our dreams!
Najar A Aug 04, 2018
Fantastic team. Verity made our loan process super easy. Highly recommend!
Rossen B Jul 31, 2018
John Hardimon and his team made buying a home such a pleasant experience! They were really on Top of things and made us feel we were in good hands.
Iuliano H Jul 29, 2018
Great all around team!
Calvert B Jul 27, 2018
I was very happy with the service we received! John Hardimon and his team were on top of everything and worked fast. When we ran into a road block he found a solution. I would definitely use them in the future!
Iuliano S Jul 25, 2018
Thank you from the bottom of my heart. You and your team made this process so easy. We really appreciate the memories that were built as first time home buyers! Closing day was absolutely something to remember and I appreciate the hard work that was put into making our proposal so special! We are forever grateful. Stay in touch!
Deets C Jul 01, 2018
John keep me informed every step of the way! Always great customer service.
Oliver K Jun 23, 2018
The care and attention y’all took. I felt like I was the only client y’all had. Very much appreciate!
Orndorff J Jun 22, 2018
Everything’s wen easy and fast
Jose Silverio C May 25, 2018
Todd was excellent in discussing all of our financing options and keeping us informed.
We got the house of our dreams. Thank you to Jennifer and all of the excellent office staff.
Campbell J May 17, 2018
Mr. John hardimon himself. And his team they really took care of me and made what I needed happen. Thanks Hardimon team!!
Stiles T May 10, 2018
John and his team had great communication throughout the entire process. This is important as it made it less stressful knowing we can reach out them at any time with a quick response. Overall it was just a pleasant experience.
Brashear J May 07, 2018
Everyone was enjoyable and easy to work with. John was always available to answer questions and would answer them in a straight forward and knowledgeable manner. I felt very confident in their work!
Tunnell J Apr 30, 2018
Great communication and clarity with everything. Thank you!
Vazquez R Apr 19, 2018
Dealt quickly with changes. All of the staff were kind and professional
Corbett C Mar 20, 2018
Anytime I had a question the answer was always just a phone call away
Brockway C Feb 09, 2018
John and his team made the entire process very easy for me even though we seemed to have quite a few obstacles from the seller.
Hawke M Feb 09, 2018
Very helpful for first time home buyers!
Arnold B Jan 01, 2018
Trust worthy and reliable! Also very nice!!
Michael I Nov 10, 2017
Working with John was the easiest part of my 2nd home buying experience. Thank you for your help!
Logan P Sep 05, 2017
We believe that John was a true blessing to us. He made this process so easy. We will forever be thankful for John and all his hard work and knowledge.
Michael S Aug 17, 2017
The entire team there did a awesome and very professional job there. They got everything done in a timely manner and made us feel like family. They were more than happy to answer any questions and explain things to me and my wife. Thank you again John and your entire Team
Edward W Aug 01, 2017
Always readily available my questions were answered promptly.
Thomas M Jul 31, 2017
The communication was excellent. All of my questions where thoroughly answered in an expedient manner.
Amanda V Jun 24, 2017
Mohamad F Jun 19, 2017
Lera and John were exceptional and patience during this tumultuous times for me. JOB WELL DONE.
Basil S Jun 16, 2017
John worked with me to understand what I really needed in a home equity loan. A change in household income made it necessary for me to pay off my credit card debt and some of my student loan debt. I am grateful for his enthusiasm and efforts. His team was diligent and patient.
Aimee R May 21, 2017
The service I received through the Hardimon team was outstanding.
Richard L May 19, 2017
Communication and response time. Especially Kendra
CAROLINE R May 18, 2017
Great personal attention and the teams efforts to work for me!
David D May 18, 2017
They had excellent service. Answered all our questions. Really helped thru the whole process. They always kept in touch and made sure we were good.
Cruz C May 18, 2017
John and his team were wonderful to work with. They were very accessible and provided great support during the home buying process. I would recommend then to anyone!
Michael L May 15, 2017
Quick turnaround on the preapproval process. Great team making your situation a top priority/
Kevin K May 15, 2017
Stephen S May 15, 2017
John and his team were always available to answer questions and were quick to respond. They made the whole process run smoothly.
Jeanne S May 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.