Before you commit to a loan program or a loan broker do your home-work. Educate your self about home mortgages and loan requirements, organize your loan documents, shop for a loan program, avoid typical mistakes made during refinance and most importantly select a mortgage broker you can trust.

If you are a salaried: provide two years W-2 and one month of pay stubs

If you are self employed: provide two years tax returns and a year to date profit and loss statements.

If you own rental property: please provide rental agreement and two years tax returns.

Provide 3 months of bank statements, stocks and mutual fund account.

Provide recent copies of stock brokerage or IRA/401K accounts that you may have

If you are requesting cash out refinance: provide a letter of explanation (what you plan to do with the proceeds).

If divorced: Provide a copy of divorce decree

If Not US Citizen, provide copy of green card (front and back)

If not permanent resident: provide H-1 or L-1 visa

Tell your loan Broker , if you hold you property title in a Trust.

Based on your specific situation, additional documents or verifications may be required, in order to improve your chances of getting the lowest mortgage rate with lowest or no fees. Please avoid common mistakes made by consumers. Following is a few refinance tips that might come in handy during your refinance process.

Respond promptly to your broker's requests for additional documents or information.

Do not increase your dept by any major purchase during the loan process.

Do not buy a car, furniture or another house item on borrowed money, until your loan is closed. Do not buy any thing that causes your depts to increase. this might have an adverse affect on your current loan application.

Do NOT move money into your bank accounts unless it can be traced.

Do not go out of town around the closing date. If you do, you may want to give a power of attorney to your co borrower.

If your property is in a Trust account. advise your broker ASAP.

Home loans are no longer the lifetime obligations they used to be. Investigate all your options and make sure to compare the worst-case scenarios. Be sure to look at initial interest rate, costs, future interest rates and payments, and the possibility of prepayment penalties.

Do not confuse "pre-Approved" and "pre-Qualified" with a loan Commitment. Pre-qualified: is an educated guess about how much loan you can afford. Pre-approved: is Lender's verification that you can pay the loan payments based on the terms of your contract.

Having too much credit is almost as bad as no credit or even bad credit.

Exaggeration of your income on a mortgage application or putting down untruthful statements on your application could be a federal offense !

The worse thing you can do is to hide and do not answer your phone call when you are behind on your mortgage payment.

Failing to make your purchase contingent on a satisfactory home inspection could be a costly mistake.

All Real Estate agents are not the same. Look for those who specialize in your neighborhood with experience.

Never, ever hire a contractor who knocks on your door or his prices are too good to be the truth.

Do not pay too much upfront money to your contractors.

Note1: We are here to provide you with excellent service. If you have additional questions, please feel free to call, send us and email or a fax.

Note2: If you are a repeat customer all you need to do is to sign a blank application and disclosure. We will have our staff to complete the application and disclosure forms.

When shopping for a loan program an and interest rate please consider the following factors.

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

Should you pay POINTS
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 1 point on a $150,000 loan is $1500. The more points you pay, the lower the rate you will get. In general for each point that you pay the interest rate may drop by .25%.

Compare Rates
Shopping for a loan can be difficult. With so may 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 is where an experienced loan officer can help you make a decision that is best for you.

Getting qualified before you apply for a loan can help you understand how much you can borrow. When buying a house you may get pre-qualified or pre-approved. You can typically get pre-qualified over the phone or on the internet. A pre-qualification is not the same as pre-approval, where you have to go through a more rigorous process witch includes verification of your credit, income, assets and liabilities. It is highly recommended that you get pre-approved before you start looking for a house.

Find out the maximum house you can buy

You can negotiate with seller better, when you are pre-qualified.

Pre-qualification helps you close quickly, since your loan is already approved.