Refinance Overview.

Enjoy the benefits of refinancing your home.

If the current market interest rates are lower than your home loan's rate, refinancing can lower your monthly payment. A One Source Lending mortgage professional is ready to meet with you and start looking at your future goal while maximizing your savings.

Simplifying the Refinancing Loan Process Benefits of Refinancing:

• YOU CAN lower your monthly mortgage payments, allowing you more cash in your pocket
• YOU CAN apply for a cash-out or "Cash-Back" refinance. This will allow you to access equity in your home for anything from home remodels to college tuitions to traveling the world.
• YOU CAN adjust your home loans terms for additional savings
• YOU CAN convert an adjustable-rate mortgage (ARM) into a fixed-rate loan that will keep your payments fixed for the reset of the loan term.
• YOU CAN consolidate a first and second mortgage -- often called a first and second lien -- into a single loan

There are two types of options for refinancing a home

Fixed Rate

Fixed Rate Stability throughout the life of your loan

What is a Fixed-rate loan? A Fixed Rate loan is just how it sounds, "FIXED". The interest rate on your loan will not change throughout thel ife of your loan. Monthly payments (Principal and Interest only) will always remain the same. Property taxes and homeowners insurance may increase, but genereally your monthly payments will be consistently stable. It is a great way to keep your monthly budgeting simple and "fixed" when it comes to knowing what your mortgage payments will be. Fixed Rate Loans come with terms from 15,20, 30, and to 40 years and low down payment options.

When is a Fixed-rate loan the best choice? Typically when interest rates are low and you plan to stay in teh home for at least five years.

One Source Lending offers a variety of fixed-rate mortgage options.

They include:

Low-down payment programs, loan programs for the first-time home buyers, people who have little or no money saved for a down payment or for those who prefer to not utilize their savings.

Adjustable Rate (ARM)

What is a Streamline Refinance Loan? If you ahve a FHA, VA or USDA mortgage, you may qualify for a Streamline Refinance. A Streamline Refinance makes it possible for you to take advantage of today's low interest rates with very little or no out of pocket expense with less paperwork.

* Please note that not all loans qualify for a Streamlined Refinance.

REVERSE MORTGAGE FACTS

FACT: The Bank will NOT own your home

FACT: There is NO income qualification

FACT: There are NO required monthly payments Step-byStep Process Simplifyiing the Loan Process we have outlined the Reverse Mortgage Process into 5 Easy Steps:



Please see below some steps that will need to be taken in order to be eligible for a Reverse Mortgage.

1. Consulation Set up. Please feel free to contact a Mortgage Loan Specialaist at One Source Lending to schedule a Reverse Mortgage appointment at 503-270-5418. We are always happy to spend as much(or as little time as you need to make sure that we educate you and will be well informed and know that your decision is the best fit for you and your financial needs with the decision to obtain a reverse mortgage. These steps allow our specialist to provide the answers to your specific questions immediately, outline how much money you can expect to receive and a loan plan that truly fits your needs. One Source Lending offers in-home consultation in your area within Oregon. We are here to walk with you through this process. The initial meeting is a friendly, no pressure meeting that all family members are invited to join. If you would prefer to speak by phone or email, that can be possible as well. Should you choose to process and make application, we will prepare the paperwork for you and explain the application before you sign.

2. Independent counseling. Before we can begin to process your application, you must receive independent, third party reverse mortgage counseling. This step, required by law, is designed to help and protect you. One Source Lending can provide you with a list of HUD approved counseling agencies, from which you can receive counseling either by telephone or, in some cases, in person. Counseling is accomplished in a single session, usually within 40 minutes to 1 hour. You will need a pamphlet, which we will provide you and a calculation printout, which your One Source Lending specialist will send to the counselor for you. The counselor will advise you of any other information needed prior to the counseling session. Counseling is an informal, information filled session and is not pass/fail or graded. It is simply sdesigned to allow you access to an unbiased source of information to help you make an informed decision.

3. Appraisal. A real estate appraisal will elp to establish a property's market value. This is the likely sale price the home will have in the open and competitive real estate market. Your home will be appraised by a HUD approved, state certified, licensed appraiser. The amount you are allowed to borrow is determined in part by your home's appraised value.

4. Closing. Your loan closing will be handled by a local title insurance company, which has been selected by our team for experience, competency, and overall service. We will make sure to be available at loan closing to answer any question or concern that may arise. We want to make certain that you are well informed and comfortable throughout the loan process, at the loan closing and beyond.

5. "The End of mortgage payment "Congradulations!!. Enjoy the benefits of not having a mortgage payment again and the money obtained from your Reverse Mortgage!