- What is the process to get a mortgage?
- What types of loans does Lenders Network offer?
- Why choose Lenders Network as your mortgage company?
- When does it make sense to refinance?
- Why should I get pre-qualified?
- Do I have to pay a higher rate if I'm self-employed?
- What is a good faith estimate?
- What is the difference between interest rate and APR?
- What is a conforming loan?
- What are points?
- Why Lenders Network instead of a bank?
- Will I save money going to Lenders Network?
- What's the difference between a mortgage company and a lender?
Our free application process will tell you exactly what all your costs and monthly payments will be.
Here are the five quick and easy steps we'll guide you through.
- Submit your application, either online, by mail, fax, or in person.
- Your loan will be processed and approved, generally in 48 hours if we have your complete information.
- Your loan is underwritten to check and verify your information and you will receive a commitment letter. This step typically takes 1 to 3 days.
- If necessary, an appraisal is performed as well as a title search. This usually takes 7 to 10 days.
- We'll be with you every step of the way from application to closing.
- Purchase
- Refinance (free refinancing when rates drop)
- Second/Vacation Home
- Investment Property
- Creative Financing
- Divorce Settlement Loans
- Free Applications
- FHA/VA Loans
- No Income/No Asset Verification Loans
- Construction Loans
- 100% Financing Options
- Many Others
We make getting you a mortgage quick, simple and easy. Every one of us here at Lenders Network are mortgage professionals with years of experience in the business. Many of us also have specialized experience like investment property portfolio management and residential real estate sales. Take a look at our personal bios to see if there's a special expertise we can offer you.
It makes sense to refinance if you can save money one or more of the following ways:
- Obtaining a lower interest rate
- Reducing the term of your loan
- Converting an adjustable loan to a fixed loan
- Consolidating debt
Pre-qualification is a quick way to identify your options, your monthly payments and up front costs, especially when you're purchasing a home. We'll help you pin down what you can afford and what you can expect for a rate and terms with no cost or obligation of any kind.
With many lenders, self-employed borrowers can find it difficult to get a loan at the best rate possible. At Lenders Network we have special programs that allow self-employed borrowers to obtain the same great rates without having to prove your income. We are a leader in this area and the only mortgage company in the country to offer this special program.
All lenders are required to provide a good faith estimate to allow you to compare one lender to another. The trick is deciphering how all the fees, points, and other charges impact the cost of your loan. If you been provided a Good Faith Estimate we'll help you make a direct and accurate comparison with what we can do for you.
The interest rate determines the calculation of your monthly payment of principal and interest. The APR takes into account the interest rate plus closing costs and points, amortized over the life of the loan. It is important to note that the APR can be deceiving, as not all of the fees charged by many lenders are factored into the APR. In order to accurately compare rates, a better question to ask is, "What is my interest rate and what are my closing costs?"
You may hear the words "conforming" and "non-conforming" used by lenders. Whether a loan is conforming or non-conforming is determined by the size of the mortgage. In 2006, loans over the amount of $417,700 are "non-conforming" and are subject to higher interest rates. (This amount generally changes annually.) Non-conforming loans are also referred to as "jumbo loans."
A point equals 1% of the loan amount. Paying points is like prepaying interest on your mortgage. In effect, by paying a point you will get a lower interest rate over the life of your loan. Typically, paying one point in advance will lower your interest rate by 0.25%. In general, you will have to own a home for five years or more to make it worth paying points on a loan. With Lenders Network's special no-cost refinance offers, we rarely recommend paying points.
It's simple; we have many more loan options for you than any single bank because we work with 41 different banks across the country. That gives us more than 4000 programs from which to choose. We'll get you the best rate and terms possible anywhere by finding a loan program that fits your unique needs and situation, instead of trying to shoehorn you into something that doesn't quite fit.
We know we can save you money and our customers know we've saved them money. That's why they keep coming back. See for yourself. We'll give you all of your real and complete options (that means no hidden fees at closing) for FREE. No cost, no obligation, no commitment. Just tell us your needs and see for yourself what we can do for you.
Deciding whether or not to refinance can be complicated and difficult. Our mortgage professionals are experts on refinancing. We'll be happy to advise you on whether, when and how to refinance your mortgage. Contact us about refinancing.
We can't speak for all other mortgage companies but here at Lenders Network we advise our customers about what the best loan program is for their specific, individual situation and needs. We handle everything from application to closing and we'll be with you every step of the way.
