Restructure a Home
There are many reasons why homeowners explore restructuring their current mortgage: the opportunity to obtain a lower interest rate; the chance to shorten the term of their mortgage; the desire to convert from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, or vice versa; the opportunity to tap a home’s equity in order to finance a large purchase; and the desire to consolidate debt. We at Molitor Financial Group can help you to determine when the time is right to restructure your home.
Restructuring your home starts with an initial consultation where we sit down and talk through your unique situation. We determine what financing you qualify for, and help you find your loan program. After deciding upon the best financing strategy, we then generate the initial disclosures, outlining your rights as a consumer in the housing market. Once you read through the disclosures and sign them, we submit your file to underwriting for review. It is also at this point that we order the appraisal, which assigns a fair market value to the property. Once the underwriter reviews the file and clears any follow up conditions, they grant the final approval. This is the last step in the loan approval process, meaning we can schedule the closing.