HELP! Purpose of Loan:
Purchase: 
Enter "Purchase" if you are purchasing a home.
 
Refinance:
Enter "Refinance" if you are exchanging your old loan for a new one, you don't want extra cash from the loan and you're not consolidating your debts.  Usually a refinance of this type is done for purposes of lowering your interest rate or changing to another amortization type (e.g. from an ARM to a Fixed-Rate loan).  Or,  you may select this category if you are consolidating your debts to lower your household monthly payments and/or financing extra cash out of the equity in your home in the loan you are applying for.
 
Construction 
Loan: 
If you are applying for financing for the construction of a new home or home improvement on your property, select "Construction Loan" on the form.
 
Construction- 
to-Permanent: 
This is the same as above except a construction-to-permanent loan will roll over to a fully amortized loan (usually a 15 or 30 year loan) when construction is completed.
 
Other:
Select "Other" if none of the above apply to your situation.
 
If Other 
(explain): 
Enter "credit line" if you are leaving your existing loan "as is" and applying for a line of credit using the equity in your home as collateral for the credit line,  or "Equity Loan" if you are taking out a separate loan against your home's equity for cash.  If you selected "Other" and you're not sure what to enter in this field, leave it blank.
 
Please close this window to continue.