877-669-0777
adiaz@swbcorp.com
Apply Now
Secure Doc Upload
Statewide Bancorp Logo

Questions?
Call Us at 877-669-0777

Blog

Blog Image: What Does It Take to Refinance a Jumbo Loan?

What Does It Take to Refinance a Jumbo Loan?

Mortgage interest rates have dropped significantly in the past year and everyone wants to take advantage of the savings. Those who have jumbo loans – mortgages with balances over the conforming loan limit of $510,400 in most areas – may wonder if they can refinance their loans too. The answer is a definite yes! There may be some additional requirements, but jumbo loan holders can absolutely benefit from today’s lower rates. Jumbo Loan Criteria Because jumbo loans involve such large amounts of money, the requirements for refinancing are typically stricter than with a con...

February 26th, 2020 | Jumbo Loans, Refinancing a Home, What Does It Take to Refinance a Jumbo Loan?

Blog Image: 3 Things Lenders Don’t Want to See on Your Bank Statements

3 Things Lenders Don’t Want to See on Your Bank Statements

When you take out a mortgage loan, your lender puts a lot of trust in you to repay the loan. Lenders can do this because they do thorough financial background checks on borrowers before agreeing to lend money. Your interest rate will be based on how credit-worthy you are based on those checks. Examining bank statements is one of the ways lenders check for eligibility.  If you want to have better odds of being approved for a mortgage, before you apply, make sure that your bank accounts do not include these three things in the last two months of statements: 1. Non-Sufficient Fund (NSF) c...

January 1st, 2020 | Refinancing a Home, Preapproval, Credit, Purchasing a Home, 3 Things Lenders Don’t Want to See on Your Bank Statements

Blog Image: Can I Refinance with Bad Credit?

Can I Refinance with Bad Credit?

Mortgage interest rates have tumbled in recent months, making refinancing more appealing than ever. As of the latest Mortgage Bankers Association survey, refinance request volume is up 180% over last year. There may be some homeowners who would like to take advantage of the interest rate savings but worry they may not qualify because of poor credit. If you are part of this crowd, here are several ways to make refinancing a reality: Learn Your Options Start with an open discussion with a lender. Let them know you do not have the best credit but that you would like to refinance. They have ...

October 9th, 2019 | Credit, Refinancing a Home, Can I Refinance with Bad Credit?

Blog Image: 5 Things to Do After Your Mortgage Closes

5 Things to Do After Your Mortgage Closes

After sitting down at the mortgage closing table to sign all the paperwork, you get the keys and can breathe a sigh of relief. But before you tuck all those mortgage papers away for good, there are at least 5 things you still need to do after closing to make sure everything is on track. 1. Figure Out the Start Date of the First Payment Your lender or title company should have let you know this important fact before or at closing, but with so many papers and numbers being thrown at you, it might get missed. Your escrow account often requires enough money from you at closing to cover ...

March 13th, 2019 | First-time Homebuyers, Purchasing a Home, Refinancing a Home, 5 Things to Do After Your Mortgage Closes

Blog Image: Should I Pay Off My Mortgage Before Retirement?

Should I Pay Off My Mortgage Before Retirement?

As you near retirement, you may be anxious to completely pay off your mortgage and be debt-free before your traditional income stops.  In most cases, this is the best plan but there are situations when holding on to your mortgage into retirement may make more sense. Why You Should Pay Off Your Mortgage Being debt-free as you start retirement can make the transition to a fixed-income much smoother. Those who do not have their mortgage paid off yet sometimes have to dip into their investments to make their payments. That can result in higher taxes and less reserves for retirees. An...

December 5th, 2018 | Reverse Mortgages, Refinancing a Home, Should I Pay Off My Mortgage Before Retirement?

Blog Image: Are Fixed Rate Mortgages or Adjustable Rate Mortgages better for me?

Are Fixed Rate Mortgages or Adjustable Rate Mortgages better for me?

When you are in the market for a mortgage, one of the many decisions you’ll have to make is whether to apply for a fixed-rate loan or an adjustable rate mortgage (ARM). Both can be beneficial, depending on your situation. Learning the difference between them can ensure you get the right product for your financial goals. Fixed-Rate Mortgages Fixed-rate mortgages (FRMs) are just as their name suggests - loan with a fixed interest rate, a rate that never changes over the course of the mortgage. The obvious benefit of this type of loan is that your monthly payment, as well as your inte...

August 15th, 2018 | Purchasing a Home, Fixed Rate Mortgages, Adjustable Rate Mortgages, Refinancing a Home, Are Fixed Rate Mortgages or Adjustable Rate Mortgages better for me?