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PERSONAL FINANCE FAQSWe can help you find what you’re looking for. The links below will guide you to the best ways to contact us, help you find the product or service information you need, answer questions you may have about Wachovia, and more. General Information How much will my closing costs be? What is mortgage insurance (sometimes referred to as PMI or MI)? Why do I have to have an appraisal rather than using the tax value of my home? Can I find listings of REO or foreclosed properties on Wachovia.com? Depending on your location, closing costs generally average 3 to 4 percent of your loan amount. Mortgage Insurance (MI) or Private Mortgage Insurance (PMI) is collected when your loan amount is above 60 to 80 percent of the value of your home (loan-to-value) or based on the type of loan you have. It is insurance to protect the lender if you fail to pay your mortgage payment. It should not be confused with life insurance that pays off your mortgage in case of death. Appraisals determine the current fair market value of your home. Tax values obtained from your taxing authority can sometimes be lower and may not reflect the appraised value of the home. An appraisal justifies the loan amount being requested. No. Wachovia.com does not offer listings of REO or foreclosed property.
All loans and lines of credit are subject to credit approval, acceptable collateral and available equity, and are originated by Wachovia Bank, National Association, Wachovia Mortgage, FSB, Wachovia Financial Services, Inc.,or Wachovia Bank of Delaware, National Association. Products are not available in all states and are subject to change without notice. Certain restrictions apply.
Banking and financial services offered by Wachovia Bank, National Association and its affiliates. See specific product pages for details.  Personal Finance Login
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