NetFund Mortgage Company, LLC is currently Licensed in the State of Georgia.
COMPETITIVE RATES FOR
PRIMARY RESIDENCE AND INVESTMENT PROPERTIES
Mission Statement
At NetFund Mortgage Company LLC our mission is to focus on tailoring our services to fit each individual buyer or borrower's needs.
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(404) 507-2599 Phone
Frequently Asked Questions
What’s the difference between being prequalified and preapproved?
A quick conversation with your lender about your income, assets and down payment is all it takes to get prequalified. But if you want to get preapproved, your lender will need to verify your financial information and submit your loan for preliminary underwriting. A preapproval takes a little more time and documentation, but it also carries a lot more weight.
What's the Right Home For You?
Consider your lifestyle, current and anticipated housing needs and budget. It’s a good idea to create a prioritized list of features you want in your new home; For example, if you love to cook, you'll appreciate a well-equipped kitchen. If you're into gardening, you'll want a yard. If a home office is a must, you’ll need a room that will provide you adequate workspace. In addition, consider the distance to work, evaluate convenience and accessibility to shopping, medical facilities, traffic and parking, etc. Be sure to talk to your real estate professional about where you want to live and what’s most important to you.
How Much Home Can I Afford?
Early in the process, you'll want to get pre-qualified for a mortgage loan. It enables you to move swiftly when you find the right home, especially when there are other interested buyers. It also indicates to the seller that you are serious and can afford to buy the property. A pre-approval is a simple calculation done by a mortgage lender that tells you the amount you'll be able to finance through a loan and what your monthly payment will be.
What happens at closing?
During the loan process, ownership of the home is officially transferred to you at the closing. Closing can also be referred to as settlement or escrow. Your Loan Originator will guide you through the closing process, since local/state laws vary. A title company will be hired to conduct a search for any recorded documents that affect the deed to the property. Examples include easements, liens, tax assessments, covenants, conditions and restrictions, and homeowner association bylaws. The buyer and/or lender must approve the preliminary title report prior to closing.
The next step is protecting your new home with insurance. While you are not required by law to have homeowners' insurance, mortgage lenders require that you do. A standard policy will suffice in most instances. It protects against several natural disasters and catastrophic events.
Once the conditions of the loan approval have been satisfied and the preliminary title report has been approved, all parties will agree to sign closing documents. The preliminary title report then becomes the final title report, on which any applicable title insurance is based. If everyone agrees that the papers are in order, the buyer/borrower submits payment to cover any closing costs not paid by the lender. If the lender will be paying your annual property taxes and homeowners' insurance for you, an escrow account (or reserve) is established and paid in conjunction with your monthly principal and interest payment.
What does your mortgage payment include?
Here’s what the typical monthly mortgage payment includes:
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Principal
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Interest
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Homeowners insurance
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Property taxes
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Private mortgage insurance (PMI), if you put down less than 20% on your home
When you close, that new house and mortgage are officially yours. At the closing, you’ll sit down with the professionals involved in your real estate transaction and sign all the legal documents needed to give you ownership of your new home.
You’ll also be responsible for paying closing costs as part of the closing process. Closing costs are typically 3–4% of your home’s purchase price. You’ll receive a Closing Disclosure three days before closing so you know exactly what you can expect.
If you have questions about the closing process, talk to your loan originator.
a lot more weight.
When should I consider refinancing?
You should definitely think about refinancing if:
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You can lower your interest rate enough to justify the closing costs:
ie: if on a $200,000 mortgage, lowering your interest rate from 6% to 4% could save you about $200-$300 a month, over the course of ten years, that adds up to more than $30,000. Closing costs to refinance a $200,000 loan typically cost an average of about $3000-$4000. So the long term savings in this scenario would yield an amount of $$26,000 to $27,000.
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You can refinance from an adjustable-rate mortgage to a fixed-rate mortgage:
An adjustable-rate mortgage can go up and down, drastically changing your monthly payment. A fixed-rate mortgage is consistent and predictable.
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Shorten the term on your mortgage to pay it off sooner, saving potentially hundreds of thousands of dollars in interest.
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Cash out to make major improvements that will substantially increase your home’s value or consolidate debts.