Find out if now is the right time to refinance!  You may be able to reduce your monthly payments or reduce the life of your loan...by getting a lower interest rate or a new loan term.  You may also be able to save even more if you use your refinancing to pay off credit card debt or other installment-type loans.  That's because interest on your mortgage is tax-deductible, and the interest on other loans is not.  Some key reasons to consider refinancing:

• Get a lower rate mortgage

• Convert an adjustable rate mortgage to a fixed rate mortgage

• Consolidate a 1st & 2nd mortgage into one lower rate mortgage

• Pay medical bills

• College expenses & tuition

• Cash for home improvements

• Pay off credit card debt

• Vacation

• Purchase recreational vehicle

• Cleaning up divorce proceedings

SHOP LOAN PROGRAMS AND RATES
To shop for a loan you will need to:

1. Think about how long you plan to keep the loan.  If you plan to sell the house in a few years you may want to consider an adjustable or balloon loan.  On the other hand, if you plan to keep to keep the house for a longer time, you may want to look at fixed loans.

2. Understand the relationship between rates and points.  Points are considered to be prepaid interest and are tax deductible.  Each point is equal to one percent of the loan.  So, for example, one point on a $150,000 loan is equal to $1,500.  The more points you pay, the lower the rate you will get.

3. Compare different programs.  Shopping for a loan can be difficult.  With so many programs to choose from, each of which has different rates, points and fees, it's hard to figure out which program is best for you.  That's where an experienced loan officer can help you make a decision that's best for you.

**Note - Some fees may also be tax deductible.  Consult your CPA**

OBTAIN LOAN APPROVAL
Once your loan application has been received we will start the loan approval process immediately.  This involves verifying your:

1. Credit history

2. Employment history

3. Assets (bank accounts, stocks, mutual funds and retirement accounts)

4. Property value

CLOSE THE LOAN
After your loan is approved, you will be required to sign the final loan documents.  This will normally take place at a title company or an attorney's office.  You will need to:

1. Bring a cashier's check for your down payment and closing costs if required.  Personal checks are normally not accepted.

2. Review the final loan documents.  Make sure that the interest rate and loan terms are what you were promised.  Also, verify that the name and address on the loan documents are accurate.

3. Sign the loan documents.

Your loan will normally close shortly after you have signed the loan documents.  On refinance and home equity loan transactions, federal law requires that you have 3 days to review the documents before your loan transaction can fund.