Stepping Stone Mortgage

read moreWe pride ourselves on providing superior customer service and creating satisfied customers. We work hard to satisfy the mortgage needs and exceed the expectations of our customers. Our customers save money and close their loans quickly because we employ the most advanced mortgage technology available. In a rush? We welcome you to try our mortgage calculators! The Internet, advanced mortgage processing software, and automated mortgage underwriting systems are coordinated to speed the mortgage process and deliver the best rate and terms.

read moreThere are many loan programs available - too numerous to cover them all, we've highlighted the programs more commonly offered today. Characteristics of each loan program are unique, so consult your mortgage professional for more information and to become familiar with the details of the programs available to you.

read moreBecause our society is so automated, it's probably not that surprising that your creditworthiness boils down to one number. This score is built by credit reporting agencies. They use the payment history from all of your loans: mortgages, car loans, credit cards, and others. Each of the three credit agencies has its own formula for building your credit score. Fair Isaac and Cooriginally developed this score. Experian uses this model and calls its score FICO. Equifax's model, based on FICO, is called BEACON, while TransUnion, which also uses a slightly modified FICO, calls its score EMPIRICA.

read moreKeep track of each principal payment. You'll want to be aware of the the purchase amounts of the houses that are selling around you. If your loan is under five years old, it's likely you haven't paid down much principal it's been mostly interest. You can start the process of canceling PMI when you determine your equity has risen to 20%. You will need to contact the lending institution to alert them that you wish to cancel PMI payments. Lending institutions ask for paperwork verifying your eligibility at this point.

read moreNo doubt, quite a lot to do in oder to get a mortgage. You wouldn't be here on our site if you could fill out a simple loan application and get an excellent loan funded in one day. But Stepping Stone Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan. A couple of factors determine this amount. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you?

read moreMany of the closing costs associated with buying a house are associated with getting a mortgage loan. At Stepping Stone Mortgage, we are highly experienced in mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Loan Estimate". Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually change by small amounts between delivery of the Loan Estimate (LE) and closing.

read moreYou'll see an interest rate and an Annual Percentage Rate (A.P.R.) for each mortgage loan you see advertised. The easy answer to "why" is that federal law requires the lender to tell you both. The A.P.R. is a tool for comparing different loans, which will include different interest rates but also different points and other terms. The A.P.R. is designed to represent the "true cost of a loan" to the borrower, expressed in the form of a yearly rate. This way, lenders can't "hide" fees and upfront costs behind low advertised rates.

read moreThere are a lot of reasons to ask for an FHA loan instead of taking a conventional or an expensive and riskier sub-prime mortgage loan. FHA has many advantages and benefits that other loans do not cover. Stepping Stone Mortgage, Inc. is a qualified mortgage lender with all loan officers and processing staff trained to handle your questions. Our dedicated staff will help you through the loan process in a very efficient manner for you to purchase or refinance your home.