Frank Rexford

Senior Mortgage Banker
CIMG Residential Mortgage
1300 Environ Way
Chapel Hill, North Carolina 27517

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Office:  919-929-6116
Mobile:  919-360-7864
Fax:  919-869-1510
Email:  frexford@cimginc.com
NMLS:  119234

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Knowledge Center

Conforming Loan Limit Increase for 2022

The Federal  Housing Agency has increased the maximum conforming loan limit for mortgages eligible to be purchased by Fannie Mae and Freddie Mac.  For 2022, the maximum conforming loan amount for a Single Family home in our area will be

Frank Rexford February 16, 2022February 16, 2022 Knowledge Center Read more

All About Gift Funds

All About Gift Funds

Gift funds allow family members to help other family members buy a home and begin to build wealth.  This is something we see most often when young buyers are purchasing their first home.  If you are uncomfortable with the idea

Frank Rexford October 8, 2018October 17, 2018 Knowledge Center Read more

CIMG Renovation Loans

CIMG Renovation Loans

Imagine you are interested in purchasing a home that needs structural work, foundation work, mold remediation, lead-based paint stabilization or other repairs in order to satisfy appraisal requirements – and the sellers are not able or willing to make these

Frank Rexford September 27, 2018October 17, 2018 Knowledge Center Read more

Conventional Mortgage Financing For Condos

Conventional Mortgage Financing For Condos

For every residential mortgage, the borrower’s creditworthiness and ability to repay must be underwritten and approved, and the appraisal must support the purchase price and be accepted by the underwriter.  When you are purchasing a condo, there is an additional

Frank Rexford September 19, 2018October 17, 2018 Knowledge Center Read more

Should You Wait Until You Have 20% Down?

Should You Wait Until You Have 20% Down?

I was recently asked by a client about the potential costs of waiting until she could make a 20% down payment – since she only had enough for a 10% down payment when we spoke.  Let’s take a look at

Frank Rexford March 13, 2018October 17, 2018 Knowledge Center Read more

Should You Consider An ARM?

Should You Consider An ARM?

Adjustable Rate Mortgages got a bad name after the housing crisis and mortgage meltdown in 2008, but a lot of that reputation is unwarranted.  Negative amortization ARMs, the worst culprits, are long gone.  Interest-only ARMS are hard to find unless

Frank Rexford March 1, 2018October 17, 2018 Knowledge Center Read more

Consider a 15 Year Fixed Rate Mortgage

Consider a 15 Year Fixed Rate Mortgage

Suze Orman thinks more people should choose a 15 year fixed rate mortgage, but I don’t think a 15 year fixed rate mortgage is right for everyone.  However, if you have your retirement savings on track, along with 8 months of emergency funds

Frank Rexford January 24, 2018March 5, 2018 Knowledge Center No Comments Read more

Retirement planning

Retirement planning

Your ability to save for retirement should be considered when planning your mortgage – for some initial guidance, check out this article from USA TODAY. Retirement planning: Here’s how much money you should have saved at every age. https://usat.ly/2C4VDM0

Frank Rexford January 1, 2018February 20, 2018 Knowledge Center Read more

Blog Categories

  • General Information
  • Knowledge Center
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Recent Posts

  • Conforming Loan Limit Increase for 2022
  • Qualifying for a mortgage after a bankruptcy, foreclosure, short sale, or deed-in-lieu
  • Buying a new home is finally getting easier for Millennials
  • Fannie Mae and Freddie Mac – Conventional Conforming Loan Limits Increased for 2020
  • Don’t Let Scammers Steal Your Down Payment

Blog Archive

  • February 2022
  • January 2020
  • December 2019
  • November 2019
  • September 2019
  • January 2019
  • November 2018
  • October 2018
  • September 2018
  • March 2018
  • February 2018
  • January 2018
  • November 2017

Important Reminders About The Mortgage Process

  1. Don’t apply for any new credit until after we have closed your loan, and don’t make any unusual charges on your existing credit.  Your loan is being underwritten per your current financial status.
  2. Photographs of documents are NOT acceptable.  Originals, scans and faxes are acceptable.
  3. Bank statements must contain your name, your account number, and 30 days of complete activity.  We need ALL NUMBERED PAGES of banks statements.  Even if any numbered pages are blank.
  4. Please provide your closing attorney information asap so that we can order your title work.
  5. Please provide your homeowner’s insurance agent’s contact info asap so that we can request your insurance documentation and submit it for approval.
  6. Once you have signed your loan application, we will send you a request to pay for your appraisal fee with a credit card.
  7. Please directly contact your closing attorney to obtain wiring instructions for your closing funds – you MUST do this yourself for your own security. No one on my team and no one from Corporate Investors Mortgage Group, Inc. will ever send you wire instructions. If you receive an email from anyone at Corporate Investors Mortgage Group, Inc. providing you with wire instructions, do NOT wire your funds with those instructions and notify me immediately.

Frank Rexford

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NMLS ID: 119234
LO Lic. NC: I-128094

CIMG Residential Mortgage
1300 Environ Way
Chapel Hill, North Carolina 27517

CIMG NMLS ID: 39460

Recent Posts

  • Conforming Loan Limit Increase for 2022
  • Qualifying for a mortgage after a bankruptcy, foreclosure, short sale, or deed-in-lieu
  • Buying a new home is finally getting easier for Millennials
  • Fannie Mae and Freddie Mac – Conventional Conforming Loan Limits Increased for 2020
  • Don’t Let Scammers Steal Your Down Payment
  • What The Fed Rate Cut Means To You
  • How (and Why) To Freeze Your Credit
  • What’s The Right Loan Program For You?
  • Conventional Loan Limits Increased For 2019
  • Mortgage Rates Stabilize

Frank’s Blog

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