WHICH COMES FIRST, THE HOUSE OR THE LOAN?

Without question, it's the loan! When you apply for a mortgage, you will not only know how much you qualify for, you will also have a loan approval letter to show a seller you are ready to buy.

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GET TO CLOSING QUICKER

What's the first thing you need to do to get your loan closed, quickly and smoothly? Work with FSP Mortgage, and APPLY ONLINE

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HOME EQUITY LOANS

Many people took advantage of historically low interest rates over the past few years. If you're fortunate to have one of those really great interest rates, a home equity loan could be a great option to cash out your home equity, without affecting your 1 st mortgage rate.

We have great options on Home Equity Lines of Credit, or HELOC loans. Most are available with low closing costs, and some have no fees at all. You can pay interest only, or amortize the loan for as much as 30 years.

CREDIT SCORES

Your credit score is determined by the information contained in your credit profile. It does not consider your employment, income, assets, or any specific demographic information about you. Credit scoring was developed as a unbiased method of considering only what is relevant in determining an individual's willingness to repay debt.

You can "buy" a lower interest rate. One discount point equals 1% of your loan amount, paid at closing. Basically, you are paying some of the interest of the loan upfront, and getting a lower interest rate for the term of the mortgage. The length of time you keep the mortgage is a factor in deciding if it will be beneficial. The longer you keep the mortgage, the more money you save. We can help you determine the best options, depending on your current situation and future plans.

THE COST OF REFINANCING

There are a number of reasons and benefits to refinancing, and not all of them reduce your rate or payment. Refinancing an adjustable rate mortgage into a fixed rate mortgage may raise your rate and payment, but will lock in the rate preventing additional increases in the future. You may want to take advantage of the equity in your home, and pay off higher interest debt or make improvements to your home.

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