• What fees and costs can I expect with Beeline?

  We charge a flat fee for Loan Origination. People get a kick out of a flat fee because it means they know what they're paying up-front, so they don't have to worry about it changing after they lock. And it's less than most other lender's fees too, which is a pretty sweet cherry on top. Our Origination Fees are: $1049 for conforming purchase& refi loans $1999 for non-conforming (DSCR/Jumbo) loans Costs may vary for brokered loan options — your Loan Guide will let you know if this isFeatured

• Will my rate change from the rate I was offered?

  Once you have requested your lock in your tracker, or locked in a rate over the phone with your Loan Guide, your rate is locked for 30, 45 or 60 days (depending on what you selected), and will not change unless your loan does not close within the lock period, or there is a material change to your loan scenario. We always do everything within our control to make sure we fund the loan within the lock window to protect your rate.Featured

• Will I need mortgage insurance?

  For conventional loans, if your down payment is less than 20% you’ll need mortgage insurance. Depending on your circumstances, you won’t have mortgage insurance forever. It can drop off after you get the loan balance down below 78 to 80% of the purchase price. For FHA loans, if you put less than 10% down, you will have a monthly mortgage insurance premium as part of your loan payment for the life of the loan. If you put down more than 10%, the monthly mortgage insurance payment is removed aftFeatured

• What are points and credits?

  Points: Discount points are a form of prepaid interest that mortgage borrowers can purchase to lower the interest rate on their subsequent monthly payments. Discount points are a one-time fee, paid up front either when a mortgage is first arranged or during a refinance. Credits: In exchange for taking a slightly higher interest rate, lenders can offer what is called a lender credit to help to cover some of your closing costs. These are helpful when you are looking to pay as little out-of-pockeFeatured

• What's a Loan Estimate (LE)?

  When you get your Purchase or Refi-Ready Approval, you’ll also see your Loan Estimate (LE). Your LE shows your loan amount, interest rate and monthly payment and gives you a breakdown of your closing costs. Because all lenders are required to use the same standard 3-page LE format, it makes it easier to compare home loans. Lenders are legally bound by the LE and required to give it to you within 3 days of your loan application, so it’s pretty important. Find a sample one here (https://www.coFeatured

• How do I know the payoff amount of my current home loan?

  The easiest way to find out your loan payoff amount is to call your current home loan provider. The payoff will be the principal that is due plus the interest for the days leading up to it being paid off. Make sure you continue making the payments for your current home loan as scheduled until your new loan with Beeline is closed.Featured

• What is ‘Initial escrow payment at closing’?

  Your initial escrow payment is money we have to collect when setting up an escrow account for you based on when your property taxes and homeowners insurance are due. For example, if your taxes are due in 7 months and you’ve only made 5 payments, we’ll be short for the amount due for the annual taxes. So we collect enough upfront to make sure we have the required funds to pay your taxes on time. If you’re doing a refi and you have an escrow account with your current lender, you’ll be refuSome readers

• When will I need to pay any costs?

  You will need to pay for your appraisal at the beginning of the process. Other fees like origination fees, credit report fees, etc. will get paid at the closing.Few readers