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Purchase or Refinance



Refinance, Cashout, Reverse Mortgage and More..

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Whether you are a first-time home buyer or would like to take advantage of current interest rates to reduce your monthly mortgage payment, Sun West's mortgage loan originators are always here to help you. Our loan officers will help you evaluate your specific situation enabling you to make the right decision.

As a full service mortgage bank, Sun West offers you a variety of loan programs that allow you to choose what is best for you. Whether you are working with one of our mortgage loan officers or through one of our broker partners, Sun West is committed to ensuring that you obtain a mortgage that is affordable. For instance, in case of a refinance, we will analyze the mortgage transaction to ensure that there is a positive benefit to you by way of a reduction in payment and/or you receive cash that you may use to consolidate debts or for that renovation project you would like to have done.

In most cases, an FHA (Federal Home Administration) program would be most suitable. If you are a veteran you may be able to take advantage of VA benefits for a purchase or an interest rate reduction refinance program from the Department of Veteran Affairs. For borrowers who meet certain maximum income limits in rural zone may qualify for loan programs guaranteed by the USDA-RD (United States Department of Agriculture - Rural Development).

Use our Loan Calculators to estimate monthly payments, affordability, or your refinance options. There are a number of ways to approach an affordability analysis, and these calculators allow you to assess the effects of different variables when buying a home.

Our senior homeowners aged 62 and older may choose to consider a reverse mortgage insured by the FHA as a means to pay off a mortgage and/or convert the equity in their homes to a positive cash-flow. This mortgage is also commonly referred to as the Home Equity Conversion Mortgage (HECM, pronounced as heckum). As a borrower, you retain title to your home while benefiting from the equity in your home. Click here to estimate how much mortgage you may be able to obtain through a Reverse Mortgage.

Current Sun West borrowers (non-HECM) may login and view their current account statements.

Click here to view a short video tutorial on how to avoid mortgage fraud. This video shows the most common red flags to watch out for when applying for a loan or a mortgage modification.

Watch this short video before you plan to use services or apply for a service to 'fix' poor credit. The video will educate you on ways to protect yourself from credit repair fraud.

Click here to read an article on Affinity Fraud. This article will provide an overview of affinity fraud and tips for avoiding this scam.




Purchasing a Home

Whether you are an investor or a first time home buyer, Sun West Mortgage has the right loan program . If you are planning to purchase your home, congratulations on your decision! Lots of people do not even consider buying a home because they are mistakenly afraid they cannot afford it. But for most people, home ownership is within reach - especially with some of our special programs for first-time home buyers. In fact, for many, home ownership is as affordable as renting - in some cases even more affordable.

Buying a home offers many advantages such as:

  • Tax Benefits
  • Investment
  • Pride of Ownership

The process of buying a home is simple. As soon as you start thinking of buying a home, the first step is getting pre-qualified for a home loan. You can apply on-line. Or if you prefer, you may call us at (800) 453-7884 and ask to speak to a "Loan Agent". We will ask you some basic questions. Most of the time, we will be able to give you a tentative pre-approval at the end of the telephone conversation.

Once you have pre-qualified for a home loan, we will take a loan application. Loan application process is simple. You may be asked to bring with you some simple documents such as recent paycheck stubs and W-2's. We will fill out the forms based on the information we receive from you. Now comes the hard part - finding a home. With a help of a good Realtor, you will find this process to be both exciting and at times frustrating. We will work with you as you look for your new home. We will help you determine how much house you can afford, help steer you to special mortgages for first-time home buyers, and perhaps make suggestions that could make it easier to get the best mortgage for you.

Once you have found a home, we will finish processing your loan, usually within 14 working days. You will be asked to sign the final loan documents and within a couple of days, your Realtor will give you the keys to your new home!




Refinancing Your Loan

Whether you are an investor or a homeowner, Sun West Mortgage can refinance your loan at a competitive rate and terms. We also offer equity and debt consolidation loans to allow you to borrow against the equity in your home.

To find out more about refinancing and tips from experts, go to www.mbaa.org and click on Refinancing on the left hand column of the site.

Your first step should be to pre-qualify for the loan. Or if you prefer, you may call us at (800) 453-7884 and ask to speak to a "Loan Agent". We will ask you some basic questions and, most of the time, we will be able to give you a tentative pre-approval at the end of the telephone conversation.


Home Improvement

Sun West Mortgage offers several loan programs to help you finance your home improvements. One of these programs is the 203K Improvement Loans. If you have equity in your home, you can borrow against it for home improvement. Refer to the programs listed under Second Trust Deeds for more information on other equity loans.

SWMC also offers mortgage financing FHA 203k Improvement Loans to fix up your home, whether you are purchasing or refinancing, with one mortgage. Most mortgage financing plans provide only permanent financing. That is, you will have to first obtain financing to purchase the dwelling, additional financing to do the rehabilitation construction, and finally a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage. Often these types of financing involve relatively high interest rates and relatively short amortization periods.

But FHA's 203(k) is truly innovative and different. Under this program, you can get just one mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition and the rehabilitation of the property and at low rates. To provide funds for the rehabilitation, the mortgage amount is based on the projected value of the property with the work completed.

The 203(k) loan can be used with 1-4 family dwellings, condominiums and PUD Homes that require a minimum of $5,000 in repairs. Co-ops are not eligible. 203(k) cannot be used on non-owner occupied properties.

The process is simple. Your first step should be to pre-qualify for the loan. Or if you prefer, you may call at (800) 453-7884 and ask to speak to a "Loan Agent". We will ask you some basic questions and, most of the time, we will be able to give you a tentative pre-approval at the end of the telephone conversation.

Once you have pre-qualified for the loan, we will meet with you to take a loan application. A HUD (Department of Housing and Urban Development) approved consultant will call you to set up an appointment with you to visit the home. The consultant and you will work together to make a list of needed improvements as well as anything else that may be on your "wish" list, including dishwasher and refrigerator. (Some improvements are not eligible for financing such as swimming pools.) The consultant will assign an estimated cost for each improvement. The only limit to the amount of improvement is that the property should appraise at a value that will give you enough cash to make the improvements.

Once the loan closes, you have 30 days to start the improvement process and six months to finish the improvements. You must contact the loan servicer of your loan if you encounter any problems in meeting these required time frames.




Avoiding Foreclosure

What Options Are Available If My Mortgage Loan Is Delinquent?

Some options may be available to help you if you are facing foreclosure. Sun West cannot promise that all or any of these options will be available to you. Contact us at our toll-free number below to find out.

  • Forbearance plan. When a homeowner has fallen behind on his or her payments, sometimes an arrangement can be worked out where the homeowner makes regular full payments, plus a portion of the delinquency each month. Over time, the delinquency is paid off. If your financial situation has recently improved, this may be an option for you. Unemployment Forbearance is another option available under which homeowner may be eligible for reduced and/or suspended mortgage payments depending upon agency guidelines. Contact us to discuss your particular situation.
  • Loan modification. Loans qualifying for a modification typically offer one (or several) of the following options: reduction of the interest rate, extension of the loan term, or deferral of a portion of the loan amount. Sometimes, an arrangement may be made to add the delinquency to the balance of the loan and re-amortize (recalculate) the loan. This option may be available to you if have recently endured a reduction in your household income or an increase in living expenses and don't anticipate being able to make your full monthly mortgage payment. Please contact us to discuss your available options.
  • Short sale. Some homeowners would like to sell their homes as an alternative to foreclosure, but they cannot locate a buyer who will pay what the homeowners owe on their mortgage loan. In other words, the amount the homeowner receives from the sale is "short" of the amount they need to satisfy the mortgage. Under some circumstances, Sun West might be willing to take less than the amount owed. Contact us to discuss your particular situation.
  • Deed in Lieu of Foreclosure (DIL): In some circumstances, Sun West may allow you to sign over the title of the property over instead of foreclosing. Contact us to discuss your particular situation.

Who Should I Contact?

Please contact a Sun West loan servicing representative, toll-free at (800) 453-7884 to determine if options are available to you. Alternatively, you may want to consult a counselor certified by the U.S. Department of Housing and Urban Development ("HUD"). To locate a counselor, you may call toll-free (800) 569-4287.

What Documents Will I Need To Determine If Any Option Is Available?

To download the loss mitigation workout package, please log in to your MYL account. For instructions on setting up an MYL account, Click here

If you do not have a loan with Sun West, please select from the following:

  • To download a Fannie Mae or Freddie Mac Loss Mitigation Workout Package, click here.
  • To download a FHA, VA or USDA Loss Mitigation Workout Package, click here

Completed packages may be returned to:

Click here to view a short video on tips to protect yourself from foreclosure scams.




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