Month: September 2023

Are you ready to turn your homeownership dreams into reality? Whether you’re a first-time buyer, looking to upgrade, or seeking to refinance, our tailored mortgage solutions will make your journey to homeownership a breeze.

We know that gathering the necessary documentation can be overwhelming but worry not! Although documentation required may vary depending on the type of loan, generally, the following documents are needed.

Proof of Income

This includes pay stubs, W-2 forms, tax returns, and bank statements to verify your income and employment history. Generally, we are looking for at least two years of employment history.

Identity Check

You will need to provide a government-issued ID, such as a driver’s license or passport, to verify your identity. Be sure your documents are up to date and not expired.

Verify Assets

We will ask you to provide documentation of your assets. These can include bank statements or investment account statements. We want to ensure that you have the funds for a down payment and closing costs.

Self-Employed?

We understand that being self-employed comes with unique financial complexities. Our team will assist you in providing the essential self-employed documentation, including profit and loss statements and business tax returns, so you can secure a mortgage that suits your individual circumstances.

Personalized Solutions for Every Loan Type

We know that one size doesn’t fit all. That’s why we offer a wide range of mortgage options to suit your preferences. Whether you’re looking for a conventional loan, VA loan, FHA loan, or any other specialized loan, our experts will craft the perfect solution tailored to your unique needs.

By ensuring you have all the necessary documentation ready, you can expedite the mortgage application process and increase your chances of approval.

If you have a house in a trust, you may be wondering if you can refinance your mortgage. The short answer is yes, you can refinance your house if it is in a trust, but there are some important considerations to keep in mind.

First, it’s important to understand what a trust is and why you might have your house in a trust. A trust is a legal entity that can own property, such as your house. There are many reasons why someone might put their house in a trust, including to avoid probate, protect assets from creditors, or provide for the care of a loved one.

When it comes to refinancing your house in a trust, there are some important things to keep in mind. Here are some key considerations:

The trust must be a revocable trust.

In order to refinance your house in a trust, the trust must be a revocable trust. This means that the person who created the trust (the grantor) can change or revoke the trust at any time. If your trust is irrevocable, you may not be able to refinance your house.

The lender may require the trust to be dissolved.

Some lenders may require the trust to be dissolved before they will approve a refinance. This is because they want to ensure that they have a clear title to the property in case of default. If your lender requires the trust to be dissolved, you will need to work with an attorney to dissolve the trust and transfer the property back to your name before you can refinance.

You will need to provide additional documentation.

When refinancing a house in a trust, you will need to provide additional documentation to the lender. This may include a copy of the trust agreement, proof of the trustee’s authority to act on behalf of the trust, and proof that the property is owned by the trust.

The trustee will need to sign the loan documents.

Since the property is owned by the trust, the trustee will need to sign the loan documents on behalf of the trust. It’s important to choose a trustee who is willing and able to sign the loan documents and work with the lender throughout the refinancing process.

In conclusion, it is possible to refinance a house in a trust, but there are some important considerations to keep in mind. Make sure that your trust is a revocable trust, be prepared to provide additional documentation to the lender, and choose a trustee who is willing and able to sign the loan documents. By working with an experienced attorney and lender, you can refinance your house in a trust and take advantage of today’s low interest rates.