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				<h2 class='content-heading'>Home Mortgage &amp; Refinancing FAQs</h2>

				<p>Get the facts about home mortgages from the experts at Bank of England Mortgage. Learn about different types of home mortgage loans and what to expect during the mortgage application process. </p>

				<h3>Mortgage Articles</h3>
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				</p>
				
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				<div class='faq'>
				<h3>Home Mortgage Loan FAQ's</h3>

				<p>We are committed to helping you understand and compare home mortgage loan options. So we've compiled a list of some common questions about mortgages that we frequently hear from our customers. If you don't find the answer you are looking for, please <a href="/about/">contact us</a> right now!</p>

				<dl>
				<dt>What is the typical home loan process?</dt>
				<dd>A typical home mortgage loan process consists of 10 easy steps:
				<ol style="margin-left:20px;">
				<li>Complete the pre-qualification worksheet</li>
				<li>Pre-purchase consultation with an BOE Mortgage home mortgage loan specialist</li>
				<li>Gather and prepare necessary documents</li>
				<li>Receive credit approval</li>
				<li>Obtain a property inspection</li>
				<li>Loan officer orders home mortgage loan documents</li>
				<li>Buyer obtains homeowners insurance</li>
				<li>Our loan experts update you on document status</li>
				<li>Seven-day pre-closing confirmation</li>
				<li>Easy, smooth, on-time closing!</li>
				</ol>
				</dd>

				<dt>What do I typically need to apply?</dt>
				<dd>
				<ol style="margin-left:20px;">
				<li>W-2's for the past 2 years</li>
				<li>2 most recent year-to-date paycheck stubs (within 30 days).</li>
				<li>Residence address - past 2 years and landlord information if applicable.</li>
				<li>Name and address of each employer - past 2 years</li>
				<li>2 years' tax returns, if self-employed or commission.</li>
				<li>Last 2 months' bank statements for all checking, savings and retirement accounts (all pages included).</li>
				<li>Divorce Decree and 12 months' proof of child support. when applicable</li>
				<li>Address of other real estate owned.</li>
				<li>Loan information on all real estate owned.</li>
				<li>Payment for appraisal.</li>
				</ol>

				<dt>What's the difference between pre-qualification and pre-approval?</dt>
				<dd><p>A mortgage pre-qualification is basically the lenders opinion of your ability to buy or refinance a home. Requires only basic information and no documentation or credit score. A mortgage pre-approval is the underwriter's decision that you are qualified. Credit check and documentation are required.</p></dd>
				<dt>Once I sign my application am I committed to borrowing money?</dt>
				<dd><p>No. Your pre-closing signatures are non-committal but only allow your mortgage banker to negotiate and approve you for a loan.</p></dd>
				<dt>Internet Statements- Can I use them?</dt>
				<dd><p>Internet statements are not allowed because they're not yet seen as completely unalterable by Fannie Mae or Freddie Mac. ALL PAGES of a required hard copy statement must be submitted (1 of 5 - all 5) even if the first page is an advertisement.</p></dd>
				<dt>Who orders the appraisal and survey, and when is it ordered?</dt>
				<dd><p>Your lender will order the appraisal and survey for you. (Unless your home is new construction and then your builder will order your survey) Most contracts have option periods that allow you to dictate when the appraisal and survey are ordered.</p></dd>
				<dt>What does "locking my rate" mean?</dt>
				<dd><p>Locking your interest rate refers to guaranteeing a specific interest rate for a specific period of time. Shorter lock periods usually have lower interest rates. For more information or to compare mortgages and rates, contact our qualified home mortgage loan experts.</p></dd>
				<dt>Do you "sell" your loans?</dt>
				<dd><p>BOE Mortgage serves as both a broker and a banker- meaning we can either service or sell your loan, depending on what best fits your financial situation.</p>

				<p>A mortgage banker will originate, process, underwrite, close and fund the loan in-house.</p>

				<p>A mortgage broker will sell your loan to an investor who has guaranteed your loan program, and therefore your loan will be serviced and funded by that investor.</p></dd>

				<dt>What is APR? (Annual Percentage Rate)</dt>
				<dd><p>Usually higher than your quoted interest rate because it includes, in addition to interest, some of the additional costs of obtaining your financing.</dd></dd>
				</dl>
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				<h3>Refinance FAQs</h3>
				<p>Whether you want to lower your monthly payment, get cash out of your home, consolidate debt or obtain a fixed rate mortgage, we have the practical home refinancing information you need to achieve your financial goals. Start with our mortgage refinance FAQ or call us at (865) 429-2797 to learn more.</p>

				<dl>
				<dt>Why choose BOE Mortgage to refinance a mortgage?</dt>
				<dd><p>We are a reputable bank best known for its super low rates and brilliant advice. With more than 110 years of experience, we lead the industry by giving customers exactly what they want - the lowest possible rates and the highest level of customer service. Contact us now and discover why countless others have turned to BOE Mortgage for mortgage loan advice.</p></dd>

				<dt>Why would I refinance a mortgage?</dt>
				<dd><p>There are several reasons people choose to refinance a mortgage, such as lowering your monthly payments, getting cash out of the value of your home, or changing to a fixed rate mortgage. No matter why you want to refinance, mortgage information from BOE Mortgage experts will ensure you get the perfect home loan program for your needs.</p></dd>

				<dt>Can I refinance a mortgage to get a lower rate?</dt>
				<dd><p>When you refinance a mortgage with us, our guaranteed lowest interest rates can help you can achieve your financial goals in less then 30 days. Our expert team of loan professionals will give you unparalleled advice on your refinancing options. Contact us now for more refinance mortgage information.</p></dd>

				<dt>How do I refinance a mortgage?</dt>
				<dd><p>If you want to refinance, mortgage information from our experts is the place to start. It's easy - contact our friendly, knowledgeable loan experts at (865) 429-2797. Ready to refinance a mortgage? <a href="https://7079183811.mortgage-application.net/WebApp/Start.aspx">Apply online today!</a></p></dd>

				<dt>What do I typically need to apply?</dt>
				<dd>
				<ol style="margin-left:20px;">
				<li>W-2's for the past 2 years</li>
				<li>2 most recent year-to-date paycheck stubs (within 30 days).</li>
				<li>Residence address - past 2 years and landlord information if applicable.</li>
				<li>Name and address of each employer - past 2 years</li>
				<li>2 years' tax returns, if self-employed or commission.</li>
				<li>Last 2 months' bank statements for all checking, savings and retirement accounts (all pages included).</li>
				<li>Divorce Decree and 12 months' proof of child support. when applicable</li>
				<li>Address of other real estate owned.</li>
				<li>Loan information on all real estate owned.</li>
				<li>Payment for appraisal.</li>
				</ol>
				</dl>

				<p>Need more information? Give us a call at (865) 429-2797 or <a href="https://7079183811.mortgage-application.net/WebApp/Start.aspx">start an application today!</a></p>

				<p><a href="https://7079183811.mortgage-application.net/WebApp/Start.aspx" class="learnmore">Apply Online Today &gt;</a>

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		<p>Bank of England Mortgage has tried to provide accurate and timely information; however, the content of this site may not be accurate, complete or current and may include technical inaccuracies or typographical errors. From time to time changes may be made to the content of this site without notice. Bank of England Mortgage may change the products, services, and any other information described on this site at any time. The information published on this site is provided as a convenience to visitors and is for informational purposes only. You should verify all information before relying on it and decisions based on information contained in our site are your sole responsibility. If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at (865) 429-2797.  This contact information is for accommodation requests only.</p>

	
        
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