Purchase and Home Equity Loans

Prequalify for a Loan
"Prequalification or Preapproval" for a loan offers several advantages when purchasing a new home. By so doing, your loan officer can help you decide exactly how much of a home you can afford. And when the sellers see your prequalification or preapproval certificate from Arboretum Mortgage they will recognize you as a serious buyer.

Lock & Shop
If you are shopping for a new home and are nervous about which direction interest rates may go, Arboretum Mortgage offers a stress-free program: You may lock in a rate for 75 days and if interest rates drop, so will yours. If interest rates climb, yours will remain at the same low rate. Combined with the "prequalification" and "preapproval" the "Lock and Shop" program allows you to:

• prequalify for a specified loan amount,
• lock into a rate under our 30 or 15 year conforming 5 and 7 year balloon products,
• take 30 days to enter into a purchase agreement, and
• use the remaining days of the 75-day lock period to close.

If for some reason you do not find a home within the initial 30-day period the lock expires without penalty.

Home Equity Line of Credit:
There are many advantages of owning your own home. As a homeowner you can put the equity of your home to work for you. With a home equity credit line you have immediate and ongoing access to the money you've put into your home. Arboretum Mortgage offers credit lines from $10,000 up to $1,000,000. You are free to use the home equity credit line any way you wish. With the home equity line of credit you pay nothing until you actually use your credit. When you draw against it, interest charges are applied against the outstanding balance only. As you repay, the money is available for you to use again and again. Plus, up to 100% of the interest on your home equity line of credit may be tax-deductible (please consult your tax advisor about your particular situation).

Check out our prequalification form to find out if you qualify.