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Mortgages: Home Purchase or Refinance

Lock in your home loan,
your rate, your term &
your advantage with ABNB

Whether you’re buying or refinancing your first, second, or forever home, knowing the benefits of pre-approval vs. pre-qualification and can help you save a lot of money and get the edge on other buyers.   

 

 

Purchasing And Financing Your Home-
Pre-Approval vs. Pre-Qualification

Pre-approval and pre-qualification for your home loan are great first steps,
but they’re different in every home buyer’s journey.

Pre-Approval

Pre-Qualification

This is where your relationship with us gets more serious. Pre-approvals are perfect for serious buyers who have a home in mind, a real estate agent on hand, and are ready to make an offer. This gives you the advantage you need over other buyers. In this hot real estate market, you need every edge you can get.

To get a pre-approval, we will review your pay stubs, tax returns, debts, and run a credit check before issuing a conditional (not final or guaranteed) offer for financing.

Consider pre-qualification your official “starting point” in the mortgage process. With a pre-qualification from ABNB, you’ll be able to establish a rough budget and get started on your home search. 

To get a pre-qualification, you’ll submit a few minor details — income and employment, for example — to find out how much you might be able to borrow and at what rate.

     Ready. Set. Refinance. 

If you’ve been in your home for years and have been putting in sweat equity where it counts, it might be time to consider refinancing your mortgage. You’ll save money, each and every month. Thanks to historically low interest rates and our experienced in-house team, you will benefit from our expedited process and will maximize savings on your monthly mortgage payments.

At ABNB, we don’t charge points. Zero. Zilch. Nada. That means you could save up to $2,500* when you refinance with us. But the benefits don’t stop there.

TODAY'S RATES:

30-Year Fixed

Interest Rate:  

4.875%

APR (Annual Percentage Rate):  

4.963%

Monthly Payment:  

$1,058

10/5 Adjustable

Interest Rate

4.5%

APR (Annual Percentage Rate)

4.584%

Monthly Payment

$1,203

30 year fixed is based on 80% LTV with a purchase price of $250,000. All loans subject to approval. Rates, terms and conditions subject to change. May vary based on creditworthiness and qualifications. Does not include taxes or insurance.

10-year fixed rate is bsaed on 95% LTV adjusts every 5 years thereafter, 30-year amortization. Purchase price of $250,000. All loans subject to approval. Rates, terms and conditions subject to change. May vary based on creditworthiness and qualifications. Does not include taxes or insurance.

Why Refinance?

Lower your monthly mortgage payments 

Refinancing at a lower rate can help decrease your monthly mortgage payment and gives you the flexibility to choose a different term. 

Tap into your equity for cash

A cash-out refinance** is a great way to use the equity from your mortgage for home improvements, college expenses and more. 

Freedom from Private Mortgage Insurance 

Your home’s value has increased over time, so refinancing can eliminate Private Mortgage Insurance (PMI) and save you even more! 

 

No matter where you are in the process, ABNB’s mortgage team can help you get into your home faster and save you BIG money at the same time.

 

APPLY TODAY 

*Based on 80% LTV with a purchase price of $250,000. All loans subject to approval. Rates, terms, and conditions subject to change, May vary based on creditworthiness and qualifications. 

**Tax deductibility of interest may vary. Consult your tax advisor.