When obtaining a home loan, you’ll receive two important documents from your lender: a loan estimate and a closing disclosure. On the surface, these documents are very similar, but they both serve different purposes. Here’s what you need to know about the differences between these two forms and what each means for you:
3 Surprising Ways Mortgage Companies Can Help You
- Debt consolidation and credit improvement
- Adjust mortgage payments
- Loss drafting services
Debt Consolidation & Improving Your Credit
Do you have trouble making multiple loan payments on time? Is one bad loan bringing the rest of your score down, even though you’re keeping up with other loans? When your credit score starts to fall, it will be more difficult to get loans in the future.
Debt consolidation programs offered by Kansas City mortgage companies can help you combine your loans into one convenient monthly payment. Going to a Kansas City mortgage company for debt consolidation can put your mind at ease.
Adjusting Your Mortgage Payments
Sometimes, mortgage rates we thought we could handle turn out to be too expensive later on. Losing a job, a spouse, or deciding to have a family are all financial strains that make mortgage payments difficult.
If there comes a time when you need to adjust your mortgage payments, a Kansas City mortgage company can help you permanently or temporarily make those changes. Kansas City mortgage companies can help walk you through the process and understand your options, including:
Loss Drafting Services
Whether your home is damaged by a storm, a fire, or some other accident, you already have a thousand things on your plate to think about. In these situations, adding the stress of insurance claims can be too much for some people.
If your home is damaged, Kansas City mortgage companies can help you with loss drafting. Loss drafting can help you and your mortgage company make sure that repairs are made on time and the insurance money is not being used elsewhere.
You may not know how to submit loss drafts yourself, or are understandably stressed from recent events that left your home damaged. Whatever the case may be, choosing a Kansas City mortgage company to do it for you can help relieve the burden.