1st Columbia Mortgage goes to great
lengths to make sure we have
qualified you accurately before we
visit you in your home. There are 3
variables, which may alter the terms
of the proposal we have approved for
you.
Appraised value:
If your appraised value is higher,
we may be able to pay off more
bills, get cash out, and lower the
interest rate. If value is lower, we
may be able to payoff fewer bills,
raise interest rate.
Income:
If your verifiable income is higher,
we may be able to payoff more bills,
get cash out, lower interest rate.
If income is lower we may have to
payoff fewer bills.
Payoffs:
If your payoffs are higher, your
monthly payment or interest rate may
be higher, if payoff is lower; your
payment and interest rate may be
lower.
Obviously, if either of these is
the case your loan may not be
exactly as we had approved by the
time we go to settlement. Rest
assured that we would notify you of
any potential changes you are
legally obligated to accept our
proposal.
