Questions), We have Answers.
should I trust TFC Tricont Mortgage
with my mortgage needs?
- TFC Tricont Mortgage is the designer,
developer and publisher of “Low Rate
Warehouse”, where consumers go to take
advantage of the lowest fees and rates
in the mortgage industry by simply
3-step product matching
Mortgage is also a one stop mortgage
provider with a relationship with many
banks and lenders that enable us to provide our
refinancing, purchasing, home equity
lines, commercial or debt consolidation (combining)
customers with the lowest fees and rates
Why should I use TFC
TFC Tricont Mortgage
is a national premier home for quality,
no cost, and low rates
refinance and purchase mortgages. We
can get your loan approved with complete
documentation in 72 hours and close it
in as few as 21 days of full submission
so you can get your new low payment and
Tricont Mortgage provides you with a custom loan
solutions that are tailored specifically
to meet your financial needs and
goals. We utilize our state-of-the-art
systems to "three times your savings" and
meet the terms and low costs we promise you.
Call us to find out why
Mortgage is your lender of trust
Should I use my local bank for my
- Of course you can.
However, just because
you have a savings, checking, or other
accounts with a local bank does not mean that they will provide you with
the best mortgage program. If in doubt, get a quote from them and
then compare it
TFC Tricont Mortgage
We promise to beat
any offer you have always.
What should I do if I get a lower
rate from another lender?
We urge you to shop around for
the best deal that you qualify for. Keep in
mind though, that the best deal on fees is not
necessarily the one with lowest interest rate.
Unfortunately, some lenders may lure you in
with a very low rate that
you'll pay for,
or place conditions on the deal that you
cannot meet and then raise the rate,
Tricont Mortgage, we are open, honest
and will provide you with all the information you
need to choose the mortgage that meet your
financial needs and goals. We urge you to have a conversation with
a Tricont Mortgage Client Advisor
at (803) 317-2500 before
making this very important money decision.
At TFC Tricont Mortgage, we believe that the
best mortgage for you is the one that take
care of your present and future needs.
Should I get pre-qualified?
It is a good idea to get
pre-qualified as it will help you know how
much you can borrow, and what loan amount and
type you can afford. Simply complete our
easy steps mortgage questionnaire or call us
at (803) 317-2500 to begin the journey. Our
pre-qualification takes minutes and carries
When purchasing a home, sellers often request
a pre-approval certificate. A pre-approval certificate is a
useful tool for buyers (you)
during negotiation. Also, a pre-approval is
helpful to both buyer and seller in getting
to a faster closing.
How will you handle my personal
We provide you with the
convenience of both ONLINE and OFFLINE
access and programs. The process entails a
combination of the telephone, fax, online, email
or through regular mail. We will use
whichever is easiest and most convenient for
you. At Tricont, we meet or surpass the
state requirements for safety.
Can I get a mortgage with less than
Yes, there are programs available
for people with less than perfect credit.
Speak with a TFC Tricont Mortgage client
advisor for more information on what is
How long will my loan process take?
Each borrower is unique, as is the
loan product selected. How long the process
takes will depend on how quickly you respond
to our request for information and documents
needed to do the loan and the location of the property, i.e.
state laws and regulations. However, we
usually close refinance loans quicker than
purchase loans because a purchase usually
has 2 parties (seller and buyer)involved rather than just the
Will I get a Good Faith Estimate?
Yes, TFC Tricont Mortgage client
advisor will provide you with a Good Faith
Estimate once an application is received.
Federal and state laws requires that we send
a Good Faith Estimate within 3 days after we
have received your completed application but
you may receive it earlier than that.
How can I check your interest
You can call your TFC Tricont
Mortgage client advisor @ (803) 317-2500 or send us an email
What are 3rd party fees?
Third party fees are any fees
associated with your financing that are
charged by parties other than TFC Tricont
Mortgage. Generally, third party fees may
include appraisal fees, title and closing
fees, recording fees,
delivery/courier fees, or local transfer
What are closing costs?
Closing costs are expenses
incurred by borrowers (and sellers in the
case of purchase transactions) when
obtaining a new mortgage financing and
transferring property. Non-Recurring Closing
Costs (NRCCs) are costs that are only
charged in connection with obtaining a new
mortgage financing. Examples of NRCCs would
include: origination fee, title insurance,
settlement agent fee, notary fee,
commitment/administration fee, or appraisal
fee. NRCC fees are usually tax deductable.
Please contact your tax accountant for
Recurring Closing Costs (RCC) include costs that
are charged in connection with
obtaining a new mortgage financing and are
also charged on an ongoing basis to
of Recurring Closing Costs are; prepaid
interest, property taxes and hazard
insurance. Other fees may be included
depending on your transaction and/or
Is there a way to avoid paying
No, closing costs are paid on all
mortgage financing. However, depending on
your loan terms and the mortgage product
selected, TFC Tricont Mortgage may include
or pay for
some or all of your closing costs in
exchange for choosing a little higher
What is an escrow/impound account?
An escrow account is established to pay your property taxes, homeowner’s
insurance, flood insurance and mortgage
insurance (if required) when they become
due. If your mortgage requires an
escrow/impound account, then your regular
monthly mortgage payment will include
principal, interest and an escrow payment.
Your escrow payment is based on 1/12th of
the annual estimated payments for your
property taxes, homeowner’s insurance, flood
insurance and mortgage insurance (if
Can TFC Tricont Mortgage set up an
escrow account for me?
Yes. It is required for all FHA
and some other government
When will I need to carry flood
Only if your property lies within
Flood Zone "A" or "V", federal law (FEMA)
requires you to maintain and provide proof
of flood insurance coverage. The Flood
Disaster Protection Act of 1973 and the
National Flood Insurance Reform Act of 1994
prohibit Federal agency lenders from
originating home loans in Flood Zone "A" or
"V" unless flood insurance has been
purchased by the homeowner and is maintained
during the term of the loan.
Can I choose my appraiser?
No. The law requires mortgage
financing providers to order an appraisal
services using one of the approved national
appraisal companies to insure that a timely
and appropriate evaluation is provided at a
What is a loan-to-value ratio
The Loan-to-Value ratio is the
ratio determined by dividing the loan amount
you seek by the value of your property or
the sales price, whichever is less. For
example, if you are purchasing a property
that is selling and appraising for $200,000
and you would like to borrow $150,000, the
LTV is 75%. The loan-to-value ratio is one
consideration in qualifying all borrowers
for a loan.
What is private mortgage insurance
Private mortgage insurance (PMI)
is a type of insurance that protects the
lender in the event a borrower does not make
their payments in a timely manner, resulting
in loan default and ultimately foreclosure.
On most loan programs, PMI is required if
the loan-to-value (LTV) ratio is greater than 80
Do I get a tax advantage from
having a mortgage?
You should consult a tax attorney
or accountant for specific details, but
interest on a mortgage is usually tax
deductible. On the other hand, interest on
credit cards or auto loans is not normally
tax deductible. Please talk to a tax
specialist for more information.
What is the loan limit for FHA
The amount differs according to
the property location. Please
call us at (803) 317-2500 or visit the Housing and Urban
find your local limit.
What is mortgage insurance premium (MIP) on
The upfront mortgage insurance
for all FHA
traditional purchase and refinance products
applies to all FHA mortgage (amortization)
terms. All FHA
standard and streamline loans as of October
04, 2010 carries a 100 BPS or 1% of the loan
amount. FHA loans also come with annual
premiums that varies according to the
loan-to-values (LTV) and terms of the mortgage.
For more information, please
call us at (803) 317-2500 or visit the Housing and Urban
website for updates.
Commonly Asked Questions _____
Tricont Mortgage lend
throughout South Carolina, Rock Hill
SC Mortgage Rates, Sans Souci SC Mortgage Loan Rates, Seneca SC Home
Loan Rates, Seven Oaks SC Refinancing Rates, Simpsonville SC
Purchase Loan Rates, Soc astee SC Mortgage Refinance Rates,
Spartanburg SC Refinancing Mortgage Rate, St. Andrews SC Refinance
****Still not sure what to do? Call or Email us at (803) 317-2500
to complete our
3 easy steps mortgage
for a fee and rate offers. Thank you very