You've heard the news ~ rates are at an historical low!
Interest rates are so low, that millions of homeowners are trying to refinance along with millions trying to buy a home. Your typical retail mortgage company (local and online) along with local banks are overloaded with home loans! They are pushing their refinance loans back months and some have even started not doing them.
New Season Mortgage, is direct to the wholesale lender. Your loan officer will prepare and approve your loan prior to submission. Most of our refinance loans are closing in 30 days or less!
Advantages of using New Season Mortgage for your refinance:
- We will complete your loan within 30 days!
- We’re local with a completely digital process.
- Complete the loan application with your phone or computer within 8 minutes.
- E-sign all your documents from your phone or computer.
- Use our safe and secure portal to upload any documents.
- We do all the rest!
What documents are needed to refinance your home loan?
- A copy of your ID (usually a driver license)
- A copy of your current mortgage statement.
- A copy of your current homeowners insurance policy.
- 30 days of pay stubs
- 2 months of bank statements.
- Most recent year W2
Choose your own terms:
- 15 year fixed rate refinance
- 20 year fixed rate refinance
- 25 year fixed rate refinance
- 30 year fixed rate refinance
Choose your own interest rate:
Our current rates are so low they don’t have any discount points. However, you may choose to “buy down” your interest rate by paying discount points.
We will help you with this decision by preparing a cost analysis.
Is there a cost to refinance your mortgage?
Whenever you get a mortgage, there are going to be closing costs. You have a choice to increase your interest rate enough to cover that cost with a credit from the lender or pay for them at closing.
We will provide you a cost analysis to help with this decision.
What are the costs to refinance my mortgage?
The typical costs to refinance with ANY LENDER ARE:
- Lender Underwriting fee ($900 – 1,100)
- Appraisal fee ( this may not be needed!)
- Credit report ( under $50)
- Tax cert & flood cert fee (usually less than $100 combined & sometimes not needed)
- Title Company fees: Title insurance, Closing fee, filing fee, search fee. ( you can actually go onto most local title company websites to get a free quote from them)
- Local/state taxes: we will research this fee and give you an estimate.
You’ll need to set up a new escrow account. This includes the following items:
- Homeowners insurance
- Local/state taxes
You’ll also pay the interest only for the last few days remaining in the month your close.
What happens after closing?
Who pays off my current mortgage payment?
When is my first payment due?
Prior to closing you will need to get a cashiers check from your bank to pay the closing costs.
Colorado and Arkansas both require a 3 business day rescission period. So, after you close (sign all your documents) your new loan will not fund until after the 3 day rescission period. At that time, your current loan will be paid in full, local taxes will be paid and your new loan will begin.
We will make arrangements to pay off your current mortgage at the closing with the money we wire to the title company.
Great news! Most current loans have an existing escrow account set up. This should be refunded to you within a couple weeks of closing on your new loan.
Your first mortgage payment will be due on the first day of the following month after you close.
For example, if you close on August 30th. You would pay 2 days of interest for the month of August and your first mortgage payment would be due on October first. This is because your mortgage payment is paid in arrears (the days you’ve already lived there).
Let's get started!
Meet your loan officer:
Tamala Stewart, license 1045205
Over 15 years in lending.
Licensed in the states of Colorado and Arkansas.
Tamala resided in Colorado for 25 years and recently relocated to NW Arkansas. Her son is still in Colorado so she maintains a second office there where she can work while visiting him.
With her extensive financial background, experience in mortgage lending and the real estate industry, she is able to provide her customers with life long real estate and mortgage advise.
Tamala Stewart - Owner/Licensed Wholesale Mortgage Broker
You can reach Tamala by calling 720-608-1644 which will forward directly to her cell phone.
Or email her at Tamala@nsmloans.com
