1. Apply for Pre-Approval. We offer fast, paperless approvals. You can also take advantage of our FREE FLOAT DOWN option which allows you to lock in at today’s rates, but also get one opportunity to improve your rate if you can get a better rate during the process of your loan. We will collect typical information to verify your employment history, income, and assets including your funds needed to close, and we will also pull a credit report. You may be required to pay an application fee to cover the costs of an appraisal and credit report(s). We will provide you with detailed disclosures, which will require the signatures of all borrowers.
2. Get your property appraised. Determining the current appraised value is key for many refinance transactions and may affect the final rate that is available. We can generally obtain an appraisal report in 5-7 business days. You will receive a copy of the appraisal for your records.
3. Drop your rate. We offer the only true FREE FLOAT DOWN option available. You’ll have locked your “ceiling” rate initially to ensure that your rate won’t go any higher. Primary Capital will also offer you one free opportunity to drop your rate or “float down” to a lower rate.
4. Close with confidence. You can rest assured: we do not miss closing dates due to factors we control. In addition, we are committed to providing a HUD 1 settlement statement to you one day early so you can review your closing numbers ahead of time.
Take a look at our mortgage programs to learn more.
*Ask your professional tax advisor for complete details.