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FAQ

Freedom One Funding, Inc.
21 Executive Park Drive, Clifton Park, NY 12065
Local: (518) 579-3420
Fax: (518) 383-6675

 
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Q: Is it true that I need to pay for all of my closing costs out of pocket if I wish to refinance?

A: No. The only out of pocket cost to you is the cost of the appraisal.
 
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Q: When is a good idea to refinance at a lower rate?

A: Typically if you can recoup your closing within 3 years or less it makes sense to refinance.
 
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Q: Why are brokers able to get lower interest rates than banks?

A: Local banks have higher overhead and expenses such as salaries and fancy branch locations. Since these expenses do not apply to broker loans the savings is passed onto you the customer in the form of lower rates.
 
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Q: What is considered a JUMBO mortgage?

A: Any loan amount above $417,000 is considered a Jumbo mortgage. Rates on Jumbo mortgages are higher.
 
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Q: How do I avoid a PMI?

A: If your loan amount is 80% or less then the appraised value of the home you are not required to pay PMI.
 
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Q: How do I qualify for a HARP loan?

A: As long as your loan was purchased by Fannie or Freddie prior to May 31, 2009 you may be able to refinance even if you owe more than your house is worth.
 
Get pre approved for your mortgage

From the moment you phone us until your loan is finalized, you'll receive personal service from one of our knowledgeable and experienced associates.

First, we'll sit down to assess your situation and discuss your objectives. Then, we'll custom-tailor the right mortgage or home equity loan for you with the absolute best program available.

Your Freedom One associate will be there to simplify the entire process from the application through the closing in a swift, no-nonsense manner.

We'll stake our reputation on your satisfaction!

       

Registered Mortgage Broker – NYS Banking Department. Loans arranged with Third Party Providers. Company Registration #25871

21 Executive Park Drive, Clifton Park, NY 12065 Local: 518-383-5583 or Toll Free: 877-674-2342 Fax: 518-383-6675