In order to make a credit decision, we require verification of your credit score and financial information. For your convenience, you can securely link accounts and/or upload documents to meet this requirement.
Rate is the permanent interest rate for the life of the loan. APR is a reflection of the cost and charges that is expressed as an interest rate.
The law requires that lenders take at least 10 business days from the date of a completed application to close and fund a residential mortgage. That said, it typically takes 45 calendar days or less to close a purchase mortgage if all of the requested information and documentation is submitted in a timely fashion. Refinancing a home generally takes 30 calendars days or less.
Points are optional and allow you to permanently buy down the interest rate of the loan. Credits are applied to your closing costs. They can come from the lender or seller.
Our online application lets you apply at your own pace, so you can move as quickly or slowly as you’d like − but we help move things along by letting you know what information you’ll need on hand, what to do next, and how your application is progressing.
Yes, fees can change based on the services and products you select. Quoted rates are subject to change until you lock your loan. If a change is made, you will be provided with a new loan estimate.
The quoted rates are real, but they are not guaranteed until you lock your rate during the application process. You can lock your rate once you’ve found a property you would like to buy. Even though we cannot guarantee your rate until you lock your loan, you will always see current market rates based on the information you provide.
We encrypt all internally transferred data using the industry’s latest and most technologically advanced security certificates supported by world-class web application hosting platforms such as Heroku and AWS.
We offer various conventional and jumbo loans with both fixed and adjustable rate options.
The security of your personal information is our highest priority. Laurel Road’s loan origination system is encrypted at industry standards, and we take extra measures to ensure that our customers’ data is safe at all times.
Typically lender fees, Third party fees such as Attorney/settlement agent and potentially new escrow setup fees.