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Here are some of the most frequently asked
questions we get about loans. If after reading this
section you need additional assistance please do not hesitate to contact
us.
Q. Where are you located?
A. We have locations nationwide, but our headquarters are located in San
Diego, California.
Q. How do I know that Equidigm has low
rates?
A. We know that everyone wants the best rate possible, so we encourage all
our borrowers to shop around and then you will see that you are in fact getting
a low rate.
Q. How do you get such great interest rates?
A. Equidigm has closed millions of dollars in mortgage loans. With
a large volume of loans we are able to negotiate lower rates than our
competitors. Whether you are shopping for a first time home mortgage loan or a
home equity line of credit, we have the right loan for you at the right rate.
Q. Do any of your loans have prepayment penalties?
A. Unless otherwise specified, all our posted rates do not have prepayment penalties.
Q. What is the usual time frame for a loan to
close?
A. Most loans close within 30 days or less. Usually we will have the loan
approved in 48-72 hours.
Q. Is there any up front fees to lock in or apply
for a loan?
A. Except in very special situations, there are no upfront fees to lock in a loan.
Q. Do you charge any origination points?
A. Our points include all origination and discount points combined,
unlike some lenders who only quote the discount points and then charge you later
for origination.
Q. What happens if my rate lock expires?
A. If your lock expires we will always do our best to get you a free
extension; however, if rates are higher at the time of expiration you will not
be able to keep the same rate you locked in. By responding in a timely matter
you should have no problem closing your loan in the lock time frame.
Q. Do you know if rates are going up or down?
A. There is no way to accurately predict interest rates. Trying to
predict rates is very similar to playing the stock market.
Q. Who chooses the appraiser?
A. The bank normally chooses the appraiser.
Q. How does the appraiser get paid?
A. Depending on the program, sometimes the appraisal is paid by the
bank, while at other times when the appraiser comes out to your property you pay him directly.
Q. Where will I sign the final loan papers?
A. We arrange for you to sign at a local title company or, when ever
possible, we bring someone from the title company directly to you.
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