How will I know what my loan interest rate is and when do I get it?
Once your application and all documentation are received by Bridge View Funding, we will notify you via email that everything is in order and provide you with your interest rate. You can then lock-in--at no cost to you--for 30, 45 or 60 days. Rate locks for periods beyond 60 days may require an up-front fee. Please keep in mind that the further you lock out the higher the rate will be because the bank has to "hedge" against the market until the loan closes (approximately .125% for every 30 days).

The Home Appraisal

Who will order the home appraisal and when will it happen?
Bridge View Funding will order the appraisal once all your documentation has been received and reviewed by us. We will notify you to make an appointment if you are refinancing or when the appraisal has been completed if you are purchasing a new property.

Credit Questions

I've had credit problems in the past, should I forget about buying a home?
Absolutely not. Call 1-800-921-2102 and talk to one of our Loan Advisors. We can determine if any previous or current credit problems might disqualify you from applying at this time and provide direction on how you can resolve those problems and improve your credit worthiness. The important thing is to call us. We offer a variety of mortgage programs and we will do everything we can to get you the loan you need.

How can I make sure the information on my Credit Report is correct?
Your Credit Report reflects the information reported to the credit bureaus by each of your creditors. The information changes each time something is added or deleted from your credit file. For example: paying off an account, opening a new credit account or making a late payment on one of your accounts will appear on your credit record. To be certain your credit file is correct, request a copy of your credit report periodically. If you think an entry is in error, notify the appropriate credit bureau and ask that errors be corrected. You can request a copy of your credit report from either of these two credit bureaus: Experian or Equifax. If you have never checked your Credit Report, this is a very important process since the information is often incorrect or out of date.

Mortgage Programs

What loan products does Bridge View Funding offer?
We offer a full array of conventional and commercial fixed-rate and adjustable-rate loans.

What's the difference between a fixed-rate and an adjustable-rate mortgage?
With a fixed-rate mortgage, the interest rate is determined when you are approved for a mortgage and remains the same for the term of the loan. It can never go up. Adjustable-rate mortgages (ARMs) have a variable interest rate. Typically, the interest rate is lower the first year, then increases or decreases at predetermined, agreed-upon intervals. Visit our Loan Programs section to review the definitions of the various loan options available to you. If you have any question which is right for you, a Loan Advisor will gladly discuss your options and recommend the loan that best fits your needs.

What are points?
A point is 1 percent of the loan amount. For example: if a lender charges 2 points on a $100,000 loan, you will pay $2,000 for points. Sometimes it is advantageous to pay higher points in order to get a lower interest rate. You will pay for the points at the time of closing. Generally, you may deduct the cost of points on your income tax return. Check with an accountant.

What is PMI?
Lenders require Private Mortgage Insurance (PMI) when a borrower makes less than a 20% down payment on the home being purchased. PMI protects the lender from loss if the borrower fails to make mortgage payments. The good news is the borrower is usually relieved from paying PMI once the equity in the home exceeds 20%.

Home Equity Loans

What advantages does a Home Equity Loan offer me?
Home Equity Loans offer several outstanding benefits:

•	In most cases, you can borrow up to 95% of the equity in your home>
•	>Potential tax-savings (the interest you pay may be fully tax-deductible which further reduces your cost of borrowing. Consult your tax advisor regarding the deductibility of interest.)
•	Low rates
•	Low monthly payments
•	No prepayment penalties
•	Apply online
•	Instant approval
•	For your further convenience, Bridge View Funding offers both fixed-rate and variable-rate Home Equity Loans.

I currently have a Home Equity Loan from another lender at a higher interest rate than what you're offering. Can I switch my loan to the lower rates with Bridge View Funding?
Yes you can! Just complete and submit the online Loan Request Form. Upon approval of your loan, you can use your loan proceeds to pay off your existing home equity loan and enjoy our lower rates. You'll save money and it's quick and easy to do.

How much can I borrow?
In most case, you can borrow up to 95% of the equity in your home by combining a first and second loan to a limit of 95% of the value of your property. For example: If your home has a current market value of $100,000 and an outstanding mortgage balance of $80,000, you have $20,000 in available equity, of which you can borrow $15,000.

Am I free to use my Home Equity Loan as I wish?
Yes. How you use your loan proceeds is entirely up to you. Here are some of the most common ways Home Equity Loan clients are using their funds:

•	Debt consolidation (paying off higher interest credit card and other debt)
•	Medical expenses
•	Education expenses
•	Home improvements/renovations/repairs
•	Major purchases (cars, boats, home appliances)
•	Vacation and family expenses

Home Refinancing

Why do homeowners refinance and would it be smart for me?
Homeowners refinance to accomplish a variety of goals, but primarily it is to save money. By refinancing you can save money by getting a lower interest rate. You can save even more by using this tax-deductible loan (the refinance) to pay off non-tax-deductible debt. People most commonly use a refinance loan to:

•	Convert a higher interest rate mortgage to a lower interest rate mortgage
•	Lower their cost of debt by converting non-tax-deductible debt, such as credit cards or car loans, to tax-deductible mortgage debt.
•	Convert an adjustable rate mortgage to a fixed rate
•	Consolidate a first and second mortgage into one lower-rate mortgage
•	To get cash for family needs/expenses (tuition, medical expenses, etc.)
•	The key point to remember in all these instances is a refinanced mortgage offers you tax-deductible borrowing (which effectively lowers your cost of borrowing). Is a refinance a smart move for you? To find out, call a Bridge View Funding Loan Advisor toll-free at 1-800-921-2102 or click Contact Us and you'll get our honest, objective opinion on what's most advantageous for you.

How do I apply for a Refinance loan?
The application process is quick and easy. Simply follow the 5 Steps to Processing a Loan or fill out the online Loan Request Form and get your loan started today.

How soon will I know if my Refinance has been approved?
Once your application has been received you will be notified instantly!

* Rates quoted at the beginning of the day indicated. Rates based on qualifying income, assets, and credit rating. Subject to market fluctuations.