Law Offices of Jingting Li, PLLC
Neighborhood Housing Service (NHS)
As a nonprofit community revitalization organization, NHS’ mission is to revitalize under-served neighborhoods by creating and preserving affordable housing and providing opportunities for home-ownership education, financial assistance, and community leadership. Working in partnership with government and business, we are led by local residents and guided by local needs.
Your counselor will conduct a quick review of the terms of your current mortgage and determine whether or not it fits your current financial needs and your future financial goals. The counselor will also compare the interest rate to today’s rates to see if a refinance could result in a rate reduction. The counselor will also check for any adjustable terms or balloon payments that you may not be aware of. At the end of the mortgage checkup, your counselor will either recommend that you explore a refinance or keep your current loan.
Your counselor will assess your current financial situation including employment, income, debt and credit to determine if you qualify for a refinance at your desired loan amount. If your debt and/or credit status is determined to be a barrier to your ability to refinance, NHS will provide you with alternative options to address your financial needs.
Mortgage quote comparison:
Once your counselor has pre-qualified you for a refinance, he or she will help you shop for a loan by soliciting quotes on your behalf from at least three member banks. Your counselor will further advise you with the quote comparisons to empower you to make the best decision.