Are you searching for the perfect home, building a house, or refinancing your current mortgage? When it comes to selecting a mortgage, there are times when it can be challenging to determine how to get started.
Relax and take it easy. You focus on your dream home, and we will make financing less stressful. Our knowledgeable lending team will walk you through our mortgage or refinance options and assist you in finding a loan that is tailor-made to fit your needs.
You will need documents to verify your employment, income, and any assets you will use to secure the loan. Typically, pay stubs from the last two months, W-2 forms or tax returns for the past two years, current bank statements, and information about any other current debt. Your loan officer may request additional documentation.
Your credit score will impact your ability to qualify for a mortgage loan. Credit scores are determined by payment history, amounts owed, length of credit history, new credit accounts, and types of credit used. The better the credit score, the better the chance you will qualify for a loan with the best interest rate. Our trusted loan officers can help you see how your credit score may impact your future home loan application.
Many different mortgage options fit a variety of situations. Choosing the right type of loan will depend on several factors:
Your current financial situation
How do you expect your finances to change
How long do you intend to keep your home
How comfortable are you with the possibility that your mortgage payment may rise in the future
Your Old Point Mortgage loan officer will help guide you to the best mortgage loan.
Resources from Old Point
March 2023 Market Commentary
Uncertainty remains high over the near-term path for interest rates and capital markets. Longer-term, we believe the data dependent Federal Reserve will be successful in ...
The SECURE Act 2.0 is finally here! With over 92 different retirement plan provisions, we are providing you with an easy-to-digest overview that focuses on the sections t...
To establish a safe harbor plan and therefore be exempt from non-discrimination testing for 2022, the plan must be effective for 3 months of the plan year. For a calendar...
The SECURE Act legislation that was signed into law in 2019 included a requirement that a lifetime income disclosure be provided to defined contribution plan participants...
That’s a tough question to answer in the best of times. Add in sky-high inflation, a healthy dose of geopolitical uncertainty and the looming expenses like college, buyin...
The link you clicked will take you to a third-party website. We do not control the content of this site, nor do we endorse or guarantee the products, information or recommendations provided by the linked site, Please review their Privacy Policy as it may differ from ours. The linked third-party website may provide less security than the bank's website.