Each homeowner is unique — and we'll help you
   determine if it's the right time for you to refinance.
   Effective refinancing typically means lowering your
   current mortgage loan rate by at least one percent. You
   might also want to consider changing the length of your
   loan or receiving cash from the equity in your house. It's
   simple to see what will work for you, just run the
   numbers for yourself using our calculators.

   Quite possibly. To get a good idea of what your new
   monthly payment would be, use our Calculators.

   Yes, as long as you qualify. For instance, you may be
   able to reduce your mortgage loan term from 30 years
   to 15 years.

   Absolutely. Many people borrow against the equity in
   their homes to make improvements.
   Up to 90 percent of the appraised value of your home
   can be used to make home improvements. The equity
   you can use is based on the value of the home and what    you currently owe, subject to applicable state laws.

   Quite possibly. To get a good idea of what your new
   monthly payment would be, use our Calculator.

   You will have closing costs associated with refinancing
   your Mortgage Loans, including points and processing   fees. You may have the option of rolling these costs into   the loan amount to reduce your cash out of pocket. To   evaluate your options, use our Calculators.
   A Mortgage with an interest rate that changes over time
   in line with movements in the index.

   The length of time between interest rate changes on an
  ARM. For example: a loan with an adjustment period of
  one year is called a one year ARM, which means that the   interest rate can change once a year.

   Repayment of a loan in equal installments of principal
   and interest, rather than interest only payment.

   The total finance charge (interest, loan fees, and points
   expressed as percentage of the loan amount).

   A Buyer's agreement to assume the liability under an
   existing note that is secured by Mortgage or Deed of
   Trust. The Lender must approve the Buyer in order to
   assume the loan.

   The limit of how much an interest rate or monthly
   payment can change, either at each adjustment or over
   the life of the Mortgage.

   The financial disclosure statement that accounts for all
   funds received and expected at the closing. These
   include deposits for taxes, hazard insurance and
   mortgage insurance if applicable.

   The dependence upon a stated event, which must occur
   before a contract is binding. For example, the sale of a
   property which is contingent upon the Buyer obtaining
   financing.

   A provision in some ARM's to convert the loan to a fixed
   rate loan, usually after the first adjustment period. The
   new fixed rate is generally set at the prevailing interest
   rate for a fixed rate Mortgage. This conversion feature
   may be an extra cost.

   The portion of the down payment delivered to the Seller
   or Escrow Agent by the buyer with a written offer as
   evidence of good faith.

   The total cost a borrower must pay, directly or indirectly,    to obtain credit according to Regulation 2.

   An estate in which the owner has unrestricted power to
   dispose of the property as he/she wishes including
   leaving by will or inheritance. It is the greatest interest a
   person can have in real estate.

   A residential mortgage with monthly payments that stay
   at a low level and increase at a predetermined rate.

   The relationship between the amounts of the appraised
   value of the property and the amount of the loan as
   expressed by a percentage.

   The number of percentage points the lender adds to the
   index rate to calculate the ARM interest rate at each
   adjustment.

   Negative amortization occurs when monthly payments
   fail to cover the interest cost. The interest that is not
   covered is added to the unpaid principal balance. This
   means that even after several payments you could owe
   more than you did at the beginning of the loan. Negative
   amortization can occur when an ARM has a payment
   cap that results in monthly payments that are not high
   enough to cover the interest.

   A fee or charge for establishing a new loan.

   Principal, Interest, Taxes, and Insurance.

   Monthly Treasure Average.

   London Interbank Offered Rate.

   Cost of funds Index.

   An amount equal to 1% of the principal amount of the
   investment or note. The Lender assesses loan discount
   points at closing to increase the yield on the mortgage
   to a position competitive with other types of investments.

   A fee charged to a Mortgagor who pays a loan before it
   is due.

   Insurance written by a private company protecting the
   Lender against loss if the Borrower defaults on the
   Mortgage.

   A written document in which the purchaser agrees to
   buy certain Real Estate and the Seller agrees to sell
   under state's terms and conditions. Also, this is called a    Sales Contract, Earnest Money Contract, or Agreement
   for Sale .
   Reduced documentation for those borrowers who could
   otherwise provide documentation.

   Interest Only: Initial payments are interest only for a
   specified period. After completion of the interest only
   period, the unpaid balance is fully amortized over the
   remaining term of the loan.

Questions for first-time home buyers:

   Each buyer is unique — and we'll help you find out just
   what you can afford. Your income and your debts will
   typically play the biggest roles in determining your price
   range. It's simple to make an estimate, just run the
   numbers for yourself using our calculators.

   We offer a range of mortgage programs, and we'll help
   you determine which can work for you — some of our
   loans require little money down. You'll also need to
   consider closing costs and the escrow account for taxes    and insurance. it's a snap to figure out how much money    you'll need, using our handy calculators.

	That depends on a number of factors, including.
	How long you'll stay in the home.
	How much money you'll put down.
	How you'll finance the closing costs.

   You can expect that we'll continue to provide first-rate
   support and service. Go online anytime to monitor your
   loan activity, And of course, we're always here to help:
   contact us by email or by phone.

   No. Whether you need to be near the water or in the
   mountains, a vacation home offers an opportunity for fun
   and relaxation — and we make it just as easy to obtain
   a mortgage. But keep in mind you'll need to identify
   sources for your down payment, since you're not selling
   your current house and using the proceeds, and you'll
   need to expect a larger monthly obligation for housing
   expenses. We'll work with you to create a customized
   loan program with the best combination of rate, points,
   and closing costs for your needs — we call it our
   personalized rate because no two are alike!

   If you are working with a builder within a sub-division or
   development and just making carpeting, lighting and
   appliance selections for a brand-new home, you can
   probably obtain a standard mortgage loan. But if you're
   hiring contractors, electricians, plumbers, and painters,
   you probably need a construction loan, which provides
   funds to pay subcontractors as work progresses.    No. Whether you need to be near the water or in the
   mountains, a vacation home offers an opportunity for fun
   and relaxation — and we make it just as easy to obtain
   a mortgage. But keep in mind you'll need to identify
   sources for your down payment, since you're not selling
   your current house and using the proceeds, and you'll
   need to expect a larger monthly obligation for housing
   expenses. We'll work with you to create a customized
   loan program with the best combination of rate, points,
   and closing costs for your needs — we call it our
   personalized rate because no two are alike!

Consumers Frequently Asked Questions:

   Often, getting approved for a construction loan can be
   tricky. In many cases, two loans are required--one for
   construction and one for permanent financing. Usually
   you will have to pay closing costs on both loans, not to
   mention the extra paperwork, time and hassle involved.
   But we offer a single-close Construction-to-Permanent
   Loan that combines both construction and permanent
   financing into one loan. Construction-to-Permanent Loan
   allows for a construction period of 6 to 12 months. Other
   options are also available. And when your project is
   complete, the loan simply converts to a permanent
   mortgage.    In addition to the contract price, it is common for a
   construction lender to build a contingency reserve into
   the loan. This is a specified percentage or dollar amount
   usually required by the lender in case of unforeseen
   circumstances that could negatively impact the
   construction of your home. The amount required is
   usually based on a percentage of the contract price, on-
   site costs or loan amount.

   Additional costs will vary, and may include construction
   loan closing costs and fees and special insurance
   requirements. But don't worry; our Construction-to-
   Permanent Loan includes on-site costs, off-site costs,
   closing costs, interest reserve, contingency reserve and
   lot purchase or value.
     Not always. Some contracts are referred to as "cost
   plus" because they guarantee the price only for the
   contractor's supervision of the job and may exclude a
   portion of the costs for materials and labor. Other
   contractors may cover both labor and materials but
   include a clause that permits the contractor to charge
   more if there are material shortage or increases in costs.    You will want to clearly define with your contractor what
   is covered and is not covered.    Construction-to-Permanent Loan program includes an
   interest reserve, which means that you will not have any
   payments out of pocket during the construction period.
   We will incorporate an interest reserve account within
   the loan amount. Depending on how quickly you use
   your construction funds, there may be sufficient funds
   within the construction loan to carry you through the
   entire construction period. As each construction project
   is unique, you will need to discuss your options with
   your Construction Loan Specialist at ASHTON KLEIN
   MORTGAGE.    Not necessarily! You may have interest only payments
   until the house is completed. Generally speaking, this
   means that interest is charged only on the amount of
   funds used. Interest on our Construction-to-Permanent
   Loan is charged based on the funds used. Payments are    interest only during the construction period, converting to    principal and interest payments upon completion of the
   home.    In order to process your requested loan for you to built
   your dream home. ASHTON KLEIN MORTGAGE will
   need to see that dream as clearly as you do. Therefore,
   in addition to standard credit documentation, we will
   need copies of the following documents to start the
   process:   

   1. Final plans and specifications. “These are needed in       order to obtain an appraisal”
   2. Purchase contract for the lot (or Settlement
   Statement if you've already purchased it)
   3. Property profile (description of materials)
   4. Line Item Cost Breakdown from the General
   Contractor
   5. Construction Time Schedule “Period of the
   construction”
   6. General Contractor's construction contract
   7. Copy of the General Contractor’s Liability Insurance
   “Minimum requirements $1,000,000.00” and Workers
   Comp Insurance
   8. List of all trades Licensed Sub-Contractors
   9. Copy of General Contractor's license
   10. General Contractor's resume, statements and
   application

   Keep in mind that you need to secure final approval for
   your submitted plans, and obtain all necessary
   Construction Permits from the city or county who has
   jurisdiction.