Frequently Asked Questions

• Is an appraisal required?
  For FHA, It is if your total refinance goes over what was originally borrowed. For VA, no appraisal is required. For Conventional, under most circumstances, no appraisal is required.

• What if I don't have the money for the costs?
  Under most circumstances, costs can be included and financed as well.

• What if RMMC does not have the current mortgage file?
  RMMC would be more than happy to refinance a mortgage home loan coming from another institution. RMMC would need the following:
  1. Copy of the original Deed of Trust
  2. Copy of the original Survey if no additions have been made.
  3. Copy of Homeowners Declaration Page
  4. Recent mortgage loan statement

   

• What if Title Position has changed?
  1. Conventional Financing will require full qualification.
  2. FHA and VA have their own guidelines, call Rocky Mountain Mortgage To find out about your individual case.

• What if I do need to qualify for the refinance?
  Rocky Mountain Mortgage Company would need the following:
  1. Loan Application
  2. One month recent pay stub with year to date earnings
  3. Pre-qualification and credit report fee of $65.00
  4. Appraisal fee $350.00-according to appraisers discretion, appraisal fees may vary.