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“It was great working with Basis Point Financial. They delivered on everything they said.”

Howard M.
Owner Pacific West Construction
Denver, CO

Overview

An overview of the Home Equity Loan (2nd Mortgage) Process

A Step-by-Step guide to refinancing your house

Good news! Getting a Home Equity Loan or Line with Basis Point Home Loans is quick and easy with approval in less than 4 hours. You can be enjoying the financial freedom that a new home equity loan or line can provide in as little as 5 business days.

Our data base of over 25 different lenders ensures that you will get the very best equity loan or line product available on the market today.

There are five main steps involved in getting a new Home Equity Loan or Line:

#1

Determine your purpose and goals

Equity loans and lines are very popular. When you contact one of Basis Points friendly lending experts, the first question you’ll be asked is this: What is your reason or goal for obtaining a home equity loan or line? It may be to simply consolidate some burdensome debt or, you may feel uncomfortable with rising rates and be looking for something more tried and true, such as a fixed rate product. Perhaps you are undergoing some financial struggles and you need some quick cash out from your homes equity. Some of the most common reasons are the following:

  • Convert an adjustable rate loan to a fixed rate loan
  • Conversly, have the flexibility an equity line provides over a fixed rate equity loan
  • Consolidate a first and second mortgage
  • Consolidate debt such as credit cards, student loans, car payments and other high cost debt into one easy loan payment
  • Home improvements
  • Help pay for college
  • Needing money for other investments or investment properties

    The list is endless. Basis Point Home Loans helps you through the maze of lending options and directs you in the best path for your unique situation.

#2

Determine How Much You Can Borrow

This is a function of several variables including; how much of a monthly payment can you afford and perhaps even more importantly, how much of a monthly payment do you feel comfortable with! Knowing that no two borrowers are exactly alike, we look at your unique credit and employment history, income and debt situation and find out how much money a lender will loan to you. Our website mortgage calculators will help you determine comfortable payment options that best fit your need. We’ll also help you through various loan scenarios by asking a few simple questions. Based on standard lender guidelines, we’ll give you an idea of what kind of terms and loan programs will benefit you the most.

#3

Pre-Qualify For Your Loan

This is where the rubber meets the road and Basis Point Home Loans has the opportunity to save you the most money! After careful and confidential review of your credit, employment, income, and assets, we typically provide you several different loan options for your review and consideration.

#4

Apply Now! We make it easy!

Once you’ve you’ve decided the best path for you it’s time to complete the loan process. It couldn’t be easier, and you can do it online, right here at our website. When the time is right, we’ll order an appraisal, if one is required, contact the title/escrow company and all relevent third parties involved in the transaction of your refinance loan. We strongly believe that keeping in touch with our customers on a frequent basis is of upmost importance and encourage you and any other parties you designate to contact us any time with questions regarding your refinance loan.

Your Loan Is Funded!

We work together with you to handle the closing of your new loan. We offer traditional closings at our office or a designated title/escrow company as well as in home closings or, if need be, out-of-state and even out-of-country closings, set up at a time of your convenience. One of our trusted lending professionals is always available at the closing or via conference call to answer any questions you may have.

You’ve answered a few questions, given us some detailed information, applied online, and next thing you know, you’re new loan is done, often in less than 7 days! Congratulations on choosing one of the finest mortgage companies in the profession – Basis Point Home Loans a dba(Doing Business As) of Basis Point Financial.