When people in Fremont, California need money, want to consolidate their debt, need to pay large expenses or want to remodel their home or make improvement, they usually turn to second mortgages. There are two main types of second mortgages. They are categorized as a fixed interest rate home equity installment loans (HELOANS) and adjustable mortgage rate home equity lines of credit (HELOCs). Determine your needs to find out which type of mortgage you will need on your Fremont home. However the application and approval process for both are very similar in Fremont. These nine tips will help your Fremont loan process be as hitch-free as possible:

1. Be sure to compare other options like mortgage refinancing and other loan avenues to determine if a second mortgage on your Fremont home is the best choice.

2. It is important to tell your lender in Fremont exactly what your second mortgage is for. This will help to get your request approved.

3. Make sure you Check your credit report for errors and get your FICO scores because lenders in Fremont will review your FICO score to determine your loan rates.

4. It is also a good idea to shop around and compare several home equity loan options in Fremont. Discuss the loan programs with your broker or lender in Fremont, California and find the best loan for your situation. Negotiating low interest rates isn't a bad idea either.

5. A great help to the second mortgage process is the checklist that you lender in Fremont, California will give you. It contains the list of paperwork you need to close the loan, including:

- Copy of deed to your Fremont property.
- The most recent tax appraisal for you house in Fremont.
- Last two years' W-2's, tax returns and current pay stub, or two years' tax returns if self-employed. Be sure to include all schedules.
- Proof of income from alimony, child support, disability payments, lawsuit settlement, inheritance or other income source.
- Copies of your last 3-6 bank statements.
- List of all open credit accounts (account numbers, payment amounts, and balances).
- Your current mortgage statement.
- Homeowners insurance information (name, account number and phone number of agent).

6. It is a very good idea to fax documentation from the checklist as this will expedite the loan process more than mailing it.

7. Fill out your loan application thoroughly, or it may delay approval and loan closing.

8. Be extra wary of bad loans. The Federal Trade Commission (FTC) warns that you may be signing into trouble if the lender in Fremont encourages you to falsify your application to get the loan, urges you to borrow more than you need, pushes you into unrealistic payment terms, shows up at closing with a different loan product than you agreed to, asks you to sign blank forms, or denies you copies of documents you signed.

9. If your mortgage application is rejected by a lender in Fremont be sure to ask as many questions as needed to figure out why. This will allow you to fix any mistakes and help your next application to be approved in the future. Sometimes it is as simple as paying down some credit cards to help get your loan application approved.

If you are considering buying or selling property, planning to relocate, looking for Fremont homes for sale, or looking for any other information about real estate in Fremont, or the surrounding areas, please visit the most complete website dedicated to everything Fremont real estate related www.ClydeBrownHomes.com.

Specializing in all Fremont neighborhoods, including Centerville, Deep Creek, Ardenwood, Northgate, Niles, Irvington, Brookvale, Glenmoor, Cabrillo, Parkmont, Sundale, Warm Springs, Mission San Jose Fremont, Weibel, Avalon Heights, Lake Lakepointe, and Liberty Commons.  I also serve all East Bay cities including Fremont, Newark, Union City, Hayward, Oakland, Santa Clara, Milpitas, Dublin, Livermore, Pleasanton, and San Ramon. If you or someone you know are in need of a competent and caring Fremont agent in Fremont, or the surrounding areas, I hope you will contact me. Clyde Brown Legacy Real Estate & Associates.