If you’re already in the home of your dreams, maybe it’s time to consider refinancing. If the current value of your home has increased, you may decide to refinance at a better rate. Other reasons to refinance include: cash to consolidate debt, college tuition, home improvements, or converting to a shorter-term loan to build equity and pay off the home quicker. Eliminating Private Mortgage Insurance, changing from an adjustable rate mortgage to a fixed rate mortgage, and reducing monthly payments are also situations where refinancing may make sense. If you’re interested in refinancing your mortgage, here is a list of documents you’ll want to bring with you when you apply:
- Most recent pay stubs for the last 30 days
- Proof of funds for closing: two months bank statements and/or other asset accounts
- Last two years’ personal and business tax returns (all schedules) and a year-to-date profit & loss statement along with W-2 and 1099 forms.
- Most recent property tax bill
- Insurance policy on the property
- Current mortgage statement
Are you ready to apply?
Please call the Loan Department at 410-828-4730 to schedule an appointment with our in-house Mortgage Counselor.
Note: Rates and points can change daily and are subject to change without notice. Properties which are security for Mortgage Loans are limited to the States of Maryland, Pennsylvania and Delaware.