Refinance Overview

• Meridian Home Mortgage will never ask you to pay any upfront fees or make a so-called deposit


• You should never pay a lender any up-front application or deposit fees, no matter what


• Many lenders will tell you that it’s mandatory and that it’s only a deposit that will go towards other settlement fees like an appraisal, etc.


• Upfront fees and deposits are designed to lock you into a process in advance and are usually non-refundable

- Our Guarantee to You -
If we ask you to agree to anything at settlement that has not been previously disclosed, we will make your first mortgage payment.

• Our team approach is unique in the mortgage industry


• No matter what stage of the process your mortgage refinance loan is in, it is being managed by a specialist in that area. Our skilled team members focus on areas where they are strongest and have the most experience. This means that your loan is always in the best and most capable hands throughout the entire process


• It ensures that every refinancing loan closes as quickly as possible


• It also ensures that you will always be able to discuss your loan with someone who can give you real time status updates. You will never be funneled into a voicemail system or get lost in an automated phone tree

• We return calls immediately


• We listen to your individual situation and explain all mortgage refinancing loan options available to you in detail


• We answer all questions honestly and accurately and offer solutions that are based on our experience and geared towards your personal situation


• We routinely update you on the status of your mortgage refinance loan


• We immediately call you to explain any changes or potential issues with your loan file


• We work closely with you and your agent to clear any hurdles before closing your mortgage refinance loan


• We preview all final settlement figures with you to ensure a smooth closing

• A+ BBB rating
  Meridian Home Mortgage® has proudly maintained an A+ rating with the Better Business Bureau for over ten years. As a matter of fact, BBB only reports 1 complaint out of the tens of thousands of prospective customers that Meridian Home Mortgage has worked with over the years


• Customer Reviews
  Meridian Home Mortgage routinely solicits reviews from our customers. It’s important for us to receive honest critiques about our performance and customer service.
  Read Our Reviews


• Inc 5000
  Meridian Home Mortgage® has been honored with the 2008 & 2010 Inc. 5000 Award for being one of the fastest-growing and most innovative privately held companies in America.

• Meridian Home Mortgage has worked hard to build and maintain excellent relationships with our select wholesale lending partners


• Our honest, up-front and professional business practices have elevated us to an elite Tier 1 broker status with our lending partners


• As a Tier 1 Broker, we are able to pass along significant benefits to you that other brokers simply cannot match. Those benefits are:


• Lower rates and fees


• Meridian Home Mortgage® routinely gets exclusive pricing incentives
  
• These pricing incentives equate to lower mortgage rates and fees that we pass along to you


• Guideline exceptions


• Sometimes an underwriting exception is needed to overcome a slight guideline infraction
  
• Meridian is granted exception requests more frequently than other brokers/lenders

• Preferred Underwriting


• Dedicated teams of professionals who prioritize Meridian loans to ensure speedier closing. Our loans close faster than other mortgage companies' loans.

• Lower your interest rate


• Fix your adjustable rate


• Adjust the length (term) of your loan


• Combine your primary mortgage with home equity loan


• Lower your monthly mortgage payment


• Use our mortgage calculators to compare the monthly payment for Fixed Rate Mortgage and an Adjustable Rate Mortgage (ARM) or compare 15 year and 30 year mortgages

• Take out cash for any purpose


• Home Improvement


• Savings/Investment


• Large Expenses (wedding, vacation, etc)

• Debt Consolidation


• Consolidate revolving credit card debt


• Pay off medical debts


• Pay off liens

• Conventional Loan
  
• Conventional High Balance Loan
  
• FHA Loan
  
• VA Loan
  
• USDA Loan
  
• Jumbo Loan
  
• Compare Mortgage Refinancing Programs

• There is never a reason to pay any broker, bank or lender an out-of-pocket or upfront fee


• Many try to disguise it as a pre-paid appraisal, application, or lock fee. Whatever they name it, it is unnecessary


• Often, you are asked to a pay a fee before your loan approval is finalized


• It’s nothing more than a ploy to lock you into the process with them so that you cannot shop for better offers


• The only out-of-pocket fee you should ever pay is for your appraisal


• Typically your lender will take down your credit/debit card information, but they will not charge it. Per the recently passed federal HVCC rule, a bank or lender cannot accept payment for the appraisal


• They will send it to a third party Appraisal Management Company who will charge your card

• Ask questions about your mortgage refinancing options


• Ask to see comparisons between different mortgage refinance program approvals (e.g. FHA mortgage versus Conventional)


• Understand the differences between brokers, banks and direct lenders


• Learn how to compare mortgage brokers

• Many mortgage refinancing programs (especially FHA) require deficiencies to be fixed before approving the property


• Things as simple as peeling paint, missing fixtures, holes in walls, water stains, loose or missing railings, and unfinished rooms will need to be fixed prior to closing - if the appraiser notes them in the report

• Be sure to be as accurate as possible when applying for a mortgage refinance


• Do not overstate income


• Be sure to volunteer pertinent employment information (job gaps, self-employment, etc)


• Give a realistic estimate for the value of your home


• Do your best not to overstate value


• Remember, the appraised value will be based on the closest comparable sales in your area

• Credit is only good for 60-90 days depending on the loan program and lender


• If the application is taken before a house is found and a contract is signed, a new report might have to be pulled


• Also, if there are any delays in the loan process a new report might have to be pulled

• It is crucial that credit is not pulled by anyone else after the initial application is taken


• Avoid applying for new credit cards, education loans, auto loans, or any other type of new debt


• Do not co-sign for anyone
• If credit is re-pulled for any reason, these new credit inquiries or debts can delay your loan closing or negatively affect the loan approval

• Proof of income is only valid for 30 days


• It must be updated throughout the mortgage refinancing process


• Do not quit your job


• Be sure to communicate if there are any changes in employment status


• First time homebuyers will be subject to a 24-month verification of employment