Mountain View is one of the major cities that make up California ’s Silicon Valley, and is home to many notable Silicon Valley companies. The city is home to over 70,000 residents, and there is a lot of money in the town. The average home price is over $650,000, so you should have everything in order when you apply for your Mountain View refinance, mortgage or home equity loan.
Getting Approved
The two biggest factors in getting approved for your refinance, mortgage, or home equity loan in Mountain View are your credit history and your income. Your lender will run a credit check to verify the first aspect. For the second, you will need to show your last two months of pay stubs and your last two years of federal tax returns and W-2 forms. Once your lender looks over those two aspects, he will let you know how much you can afford to borrow on each type of loan available to you. Be sure to discuss how much down payment you will be able to make, as it may qualify you for lower interest rates or different kinds of loans.
Choosing the Right Loan
Your next step is to consider the types of loans at your disposal.
Your lender should have several other loan products available as well. Be sure to look at the total payment amount, the interest rate, the term, and the overall costs on each type of loan you are considering.
Application Paperwork
Three days after you apply for your mortgage, refinance, or home equity loan, you will begin to see some paperwork from your lender. You will want to look over this material very carefully. The Good Faith Estimate is a suggestion of the closing costs involved with your loan. It will not be finalized until twenty-four hours before closing, but it most cases, it is fairly accurate. You will see this document whether you are rolling the costs of the loan in with the principal or not. You should also see the Truth in Lending Act statement. It will help you understand what goes into the APR on your loan, and you should read it fairly carefully as well. It, though, may also change between now and the close of your loan.
Whether you are looking for a refinance, a mortgage, or a home equity loan, choose the right rate, term, and loan, and you are sure to be please with the outcome of the process.
If you are ready to get started, just fill out the form below, and one of our loan experts will be happy to contact you to discuss your loan options.
