Whether you are refinancing for a lower rate, consolidating debt or simply converting an adjustable rate mortgage to a fixed rate, Direct One Mortgage will work to get you the lowest rate possible. We take great pride in being able to offer many, many programs to fit your need. Our experienced staff will help you to find the right loan that is best for you with the lowest rate that we can offer. There is NO COST for you to apply to find out if you qualify.

1. Choosing a lender: There is a myth that your current mortgage lender can help you much easier than anyone else because you are currently making payments to them.  In reality, this does not matter at all.  Most lenders eventually sell all their loans to a small handful of investors such as FNMA aka Fannie Mae, FHLMC aka Freddie Mac, or FHA to name a few.  Your current mortgage company is just servicing your loan, basically accepting payments.  As a mortgage broker, Direct One Mortgage will find the best lender with lowest rate to provide you with what's best for you. 

2. The Application: The mortgage loan application which is commonly called 1003 is a uniform application used by all lenders.  Some lenders will require you to physically complete one and some others might complete one for you. Either way, you should make sure that the information on the 1003 is completed correctly especially if someone else completes it for you.  Please do not sign a 1003 without reviewing it yourself if it was completed by a loan officer.

3. Income & Asset Verification:  This process might be arduous for many of you.  We do understand this. However this will be unavoidable if you choose to receive the lowest rates available.  If you choose, you can ask for a no income verification program.  The interest rate and/or fees might be higher in return but for some business owners, this might not be a choice since you might not show a high income on your tax returns every year.  Please consult with your loan officer as to which would be best for you.

4. Appraisal, Escrow, Title Insurance:  These are all third parties needed to complete your loan process. Unfortunately, it is required for us to utilize these third parties to process your refinance even though you have done all of this when you purchased your home.

5. The Loan Process:  Your loan officer working together with an escrow officer, will make sure the loan process moves along according to the time table of your escrow closing date.  Time to time, your loan officer might request something from you to assist in this process such as an updated paystub and/or a clarification from your loan application. Please be patient during this process since we are all trying to achieve one thing, which is to fund your home loan.

6. Loan Approval:  Once your loan is approved, your loan officer will be ready to order your loan documents.  Your loan officer will go over in detail with you about your interest rate as well as fees. Please make sure that when you go into the escrow company to sign your loan document that the loan documents have the correct interest rate and fees that you agreed upon.  Do not sign them otherwise.

7. Loan Funds: Well, you have reached the end of the tunnel.  Congratulations!!!