Debt And Refinance Guides
Tuesday, May 12th, 2009 Subscribe To Our Feed
What credit situations can you help me with ?
In today’s mortgage environment, Oak Valley Mortgage has a program to fit most every situation to include: If you are currently experiencing or have experienced any of the areas outlined. you are not alone and we are here to assist you to get you back on your feet and to regain a solid credit standing.This will depend on how much you are paying at the moment and how long you want to take to repay the loan.
What happens to the personal information that is given to Freedom Loans?
This remains strictly confidential at all times and is used only for the purpose of helping you to obtain a loan.Yes, we can find debt consolidation loans for bad credit borrowers.
What kind of debts can be consolidated with Debt consolidation loans?
Unsecured personal loans, medical bills, student loans, credit card, student loans, unsecured personal loans can all be consolidated with the help of debt consolidation loans.Conforming is a loan eligible for purchase by the two major Federal agencies that buy mortgages, Fannie Mae and Freddie Mac.
What are the other types of loans?
Stated income/verified assets: Income is disclosed and the source of the income is verified, but the amount is not verified. Assets are verified, and must meet an adequacy standard such as, for example, 6 months of stated income and 2 months of expected monthly housing expense. Stated income/stated assets: Both income and assets are disclosed but not verified. However, the source of the borrower’s income is verified.This remains strictly confidential at all times and is used only for the purpose of helping you to obtain a loan.We don’t run credit checks.
What if my credit history is poor or if I have had a previous bankruptcy or foreclosure?
In today’s world..we generally have a program to meet even the worst of situations~Best you call us directly to discuss all related details pertaining to your situation and we can make recommendations at that time.We will immediately assess your individual requirements, and match them with the best deal from our panel of lenders. We aim to secure approval in principle within 24 hours of your application. You will be kept informed of progress at all stages. Our professional underwriters will then guide you through the loan process; clearing all the obstacles and delivering the cash you need in the shortest possible time. There are no interviews and no salesmen will call.I want a competitive interest rate We have excellent relationships with many of the top lenders in the country. Some are subsidiaries of the clearing banks. Due to this we have been able to negotiate very competitive terms and are sure we will find a rate to suit your needs.
What are points and how many do I have to pay?
Generally speaking, points are fees levied by the lender based on the loan amount. One point is equal to 1% of your loan amount. For example, two points on a $200,000 mortgage is $4,000. Discount points are used to buy down the interest rate. Some points are referred to as loan origination points; this is usually one point and is charged by the lender. How many points you pay is determined by several factors including your lender, your FICO scores and others.In some cases depending on the cost basis of your home the interest portions may be tax deductible. Potential borrowers should check with their tax advisors to explore what portion, if any, would be tax deductible for them.
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