Licensed Mortgage Lender
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Some of the major reasons homeowners choose to refinance with us
- great refinance rates to lower current mortgage payment
- refinance to secure a better fixed interest mortgage
- many choices to refinance for a short term savings through Adjustable Rate Mortgage
- great interest rates to pay off high interest credit card bills
- refinance to help pay for college tuition
- get cash out for home improvement
- our "straight talk" about mortgages to help with your financial situation
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Have you or your spouse recently lost your job, find yourself behind on your mortgage and credit cards? Are you in need of financial help? Mortgage refinance may be the quickest and best solution for you.
If You Are Falling Behind On Your Mortgage or Bills
Please Don’t Wait!
Don't wait until you are way behind on bills to contact us to refinance your mortgage to pull cash out, it may be too late. Mortgage lenders and banks evaluate your mortgage credit history along with your credit scores (as well as other variables) to determine your borrowing grade (from A+ to D). Everytime you are late on either a mortgage payment or credit card payment, etc, the chance of qualifying for a mortgage could be significantly reduced.
The better your credit grade is, the higher your chance of getting the loan at a preferred interest rate. For example, your credit grade can mean the difference of qualifying for 100% of the home value to borrowing 65%, or not being qualified at all.
Your Credit History is Very Important When Refinancing Your Mortgage
The amount of money you can borrow for mortgage refinancing or cash out refinancing depends on several factors, most important of which are your mortgage payment history and credit scores. Factors that are used to determine your borrowing grade include:
- 12-24 month mortgage payment history (how many months are you behind on your mortgage payments in the past 12 months)
- foreclosure status, if applicable
- bankruptcy (recency, if applicable)
- your current credit scores
- your current home value
- your ability to document and verify income
Factors that are involved in determining your credit score include:
- history of late payments
- history of non payments
- current level of debt to available credit lines (are you maxing out your credit lines?)
- types of credit accounts (revolving credit card debt, auto loans, student loans, equity loans, installment loans and mortgages)
- bad credit behavior eg. Delinquencies, charge-off’s, bankruptcy, foreclosure, judgments and liens
Next: How mortgage lender determines if you are eligible for mortgage refinancing? >>
NCMB: Straight talk about mortgages
North Country Mortgage Bank (NCMB) is a licensed mortgage refinance lender bank that provides homeowners with one of the best and lowest mortgage rates. NCMB is headquartered in Islandia, New York. Our mortgage professionals are knowledgeable on every aspect of residential mortgages. We genuinely care about the welfare of our clients and that is what separates us from other mortgage companies.
Residential Mortgage Refinance (Home) | Your Borrowing Grades | Consumer Guide to Mortgage Refinancing |
