Mortgage FAQ's
	I've applied for a mortgage. What else do I need to do before I move into my new home? Contact a settlement company/closing attorney to do a title search and handle the closing. Line up your homeowners insurance and be prepared to pay the annual premium at closing.
	What documents will I need to give the lender before closing a loan?
		•	Fully executed sales contract on purchase loans
		•	A termite report for the house
		•	Homeowners insurance policy properly listing the lender in the Mortgage Clause
		•	Contact your loan officer for a complete list of items required
	What's included in closing costs? Closing costs can be divided into three categories:
		•	Lender fees (points, appraisal, credit report, underwriting, settlement and tax service fee)
		•	Prepaid's (interim interest, real estate taxes and escrow, insurance premiums and escrow)
		•	Settlement costs (title insurance, settlement/attorney fees, city/county/state taxes, recordation and messenger fees)
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	Home Equity FAQ's
	Is the interest on my home equity loan deductible? In most cases the answer is yes. The interest on home equity loans or lines of credit can be tax deductible (please consult your tax planner for exact details). That's why many people choose to get a home equity loan or line of credit to finance cars, boats or other high ticket items. Interest on your credit cards or auto loans is not tax deductible. And because you're borrowing against an asset (your house), the interest rate is generally lower than other loan types. In general, the interest is deductible on a home equity loan or line of credit up to $100,000. If you are married and filing separately, interest is tax deductible on a loan or line of credit up to $50,000. Again, it's important to consult a professional tax planner for the specific tax laws that apply to you.
	What's the difference between a loan and a line of credit? A loan generally is for a fixed period of time with an initial balance and fixed monthly payments. A line of credit is similar to a credit card in that it only requires payments when there is an outstanding balance. Contrary to a loan, there is no initial balance on a line of credit. You are required to make a minimum payment each month based on a percentage of the balance.
	What can I use a home equity loan or line of credit for? For anything you would like.
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	About this web site FAQ's
	How do I get started? It’s simple. From the home page, select the loan type you want and complete our online application.
	What information do you collect? We ask questions about you, your loan and your financial situation. You may want to gather your pay stub or last year's tax return before you start the form. If you're refinancing your mortgage or looking for a home equity loan or line of credit, we need to know about the terms of your current mortgage, how much you owe and how much you want to borrow.
	How secure will my information be? We use the most secure technology available on the Internet to ensure that the data you send us remains absolutely confidential and secure.
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