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Frequently Asked Questions…

Refinance FAQ’s

Must I refinance with the bank that currently holds my mortgage?

Absolutely not. You are able to (and encouraged) to shop around to get the best rate and terms for your potential refinance.

Will my rate or fees be lower with the bank currently servicing my mortgage?

Absolutely not. Anyone who handles your new refinance loan will treat it as a new “origination” and will be subject to a new loan application and processing.

Do I have to pay the same closing fees as I did when I bought my house?

No. The closing costs are a much smaller amount and do not include many of the items that you had to pay when you bought your house initially.

 

Servicing FAQ’s

Will I be paying Approved Funding every month for the rest of the loan period?

Probably not. Depending on the characteristics of the mortgage that you obtained from Approved Funding, your loan will most likely be transferred to a third party investor or servicing company. Approved Funding works with the “top” industry companies for servicing and retaining loans, and your mortgage will end up in the safe & capable hands of one of our preferred agents. Of course, the terms and conditions of your mortgage that you signed at closing with Approved Funding will not be changed in any way, when your loan does get transferred.

Servicing FAQ #2?

Probably not. Depending on the characteristics of the mortgage that you obtained from Approved Funding, your loan will most likely be transferred to a third party investor or servicing company. Approved Funding works with the “top” industry companies for servicing and retaining loans, and your mortgage will end up in the safe & capable hands of one of our preferred agents. Of course, the terms and conditions of your mortgage that you signed at closing with Approved Funding will not be changed in any way, when your loan does get transferred.

Where can I get more information about loan servicing with Approved Funding?

To see our more detailed Frequently Asked Questions for Loan Servicing please click here.

 

Home Buyers FAQ’s

Home Buyers FAQ 1?

Absolutely not. You are able to (and encouraged) to shop around to get the best rate and terms for your potential refinance.

Home Buyers FAQ 2?

Absolutely not. Anyone who handles your new refinance loan will treat it as a new “origination” and will be subject to a new loan application and processing.

Home Buyers FAQ 3?

No. The closing costs are a much smaller amount and do not include many of the items that you had to pay when you bought your house initially.

 

Closing FAQ’s

Closing FAQ 1?

Absolutely not. You are able to (and encouraged) to shop around to get the best rate and terms for your potential refinance.

Closing FAQ 2?

Absolutely not. Anyone who handles your new refinance loan will treat it as a new “origination” and will be subject to a new loan application and processing.

Closing FAQ 3?

No. The closing costs are a much smaller amount and do not include many of the items that you had to pay when you bought your house initially.


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