There will be closing costs involved to close a mortgage loan. An equity line of credit gives you the flexibility to draw from the credit as you pay down the balance. An increase in your equity line could be less time consuming and cheaper to process than a standard mortgage loan. Now is an automated tool that helps the Wachovia Mortgage Loan Consultant provide the borrower with the quickest, most efficient response to a mortgage loan application. With the appropriate information and documentation, a loan approval can be given at the time of application on many loans.
Most borrowers apply once they have selected a property.
However, there is a pre-approval process which may help qualify you for a specific loan amount even if you have not selected a property. If you prefer to meet with a Mortgage Loan Consultant in person at a location convenient for you, please click here to locate the one nearest you. To complete your application, you will be asked to provide information and documents regarding the home you wish to purchase or refinance and your current financial situation. If you choose to let the interest rate float, the rate will fluctuate up or down as interest rates change. It will continue to change until you lock in the rate.