Lending Services

As you Financial Advisor, we can help you manage both your investments and your liabilities.Through our team of dedicated lenders, Wachovia offers a broad range of lending solutions to provide liquidity,reduce borrowing costs, and maximize potential tax benefits.

Consider the possibilities:

• Mortgages — We provide a comprehensive range of loan options including both traditional mortgages and innovative solutions such as using your securities as collateral to obtain 100% financing when purchasing,refinancing, or renovating your home.

• Home-equity loans and lines of credit — We can help you tap into the equity in your home for needs such as major purchases, college funding, and other uses. Home equity products provide low rates compared to other types of borrowing and may be tax-deductible.1

• Securities-backed loans and lines of credit — These programs allow you to borrow against the value of your portfolio, enabling you to access funds without disrupting your investment strategy.2

• Equipment financing for small businesses — These programs enable you to finance up to 100% of the cost of furniture, computers, medical equipment, machinery, and many other types of equipment.3

• 1031 Exchange Services — Wachovia Exchange Services is a qualified intermediary for 1031 like-kind exchanges.

If you are considering selling real property that will result in a taxable capital gain, talk to us about how we can help you potentially defer the taxes due on sale.1

With the help of Wachovia Securities Lending Services, I can help you effectively manage both sides of your balance sheet — your assets and your liabilities — to achieve your long-term financial goals. Please call me today if you’d like to find out more about the lending options available at Wachovia Securities.

 

Q. What are Wachovia Mortgage Corporation’s

Closing Costs?

A. Closing costs will vary from one location to another. They will also vary on the property type,

and vendors chosen (i.e. closing agent). Wachovia Mortgage Corporation offers Wachovia

Securities clients discounted closing costs that have proven to be extremely competitive. Please

contact a Mortgage Loan Counselor to discuss an estimate of potential closing costs.

 

Q. What are ARM Mortgages?

A. ARM is the acronym for Adjustable Rate Mortgage. Wachovia Mortgage Corporation offers

several ARMs that have a fixed rate for a specific time frame. After this fixed period the rate

will adjust based on product parameters for the remaining life of the loan.

 

Q. Does Wachovia Mortgage Corporation offer LIBOR Mortgages?

A. Wachovia Mortgage Corporation does offer LIBOR Based Mortgages.

 

Q. What is LIBOR?

A. LIBOR is the acronym for “London Inter-Bank Offered Rate.” LIBOR is the base interest rate

paid on deposits between banks in the Eurodollar Market. For over 40 years the Eurodollar

has been a major component of the international financial market. LIBOR is published daily

in most financial publications and on numerous financial Internet sites. LIBOR’s rate compares

most closely to the 1-Year Treasury Security Index. The LIBOR rate quoted in the Wall Street

Journal is an average of rate quotes from five major banks: Bank of America, Barclays,

Bank of Tokyo, Deutsche Bank and Swiss Bank.

 

Q. What is a “Margin?”

A. Margin is a factor added to a specific index to determine the rate on an adjustable-rate mortgage

loan. The margin is calculated individually depending on the details of the mortgage.

 

Q. How does a pre-qualification differ from a conditional or pre-approval?

A. Pre-qualification is a preliminary debt-to-income determination establishing the client’s

maximum purchasing or refinance potential based on verbal information provided by the

client. Pre– or conditional approval is a credit risk review resulting in a loan approval

with specific conditions, which can be only be removed upon receipt of written supporting

documentation. A pre– or conditional approval may only be issued upon receipt of a

completed application.

 

Q. Does Wachovia Mortgage Corporation finance Cooperatives?

A. Wachovia Mortgage Corporation can provide financing of Cooperatives only in the following

counties of New York: Bronx, Queens, Kings, New York, Putnam, Richmond, Rockland,

or Westchester. The project must contain at least 5 residential units. Due to the complexity of

Cooperative lending, timelines may be lengthened.

 

Q. How does Wachovia Mortgage Corporation view properties deeded in Trusts, LLC and Partnerships?

A. Wachovia Mortgage Corporation approves these on a limited loan-by-loan basis after specific

review of the entity’s legal documents by our Specialized Underwriting Department. Due to

the complexity of these loans, timelines may be lengthened.

 

1 Please consult with your tax advisor regarding interest deductibility and potential tax deferments.

2 Pledging securities may not be suitable for all investors. There are risks associated with borrowing against securities as collateral. Please read your Agreement and Disclosure Statement, which will be included in your application packet.

3 All leases are offered by Wachovia Financial Services, Inc., a subsidiary of Wachovia Bank, National Association, and assigned to a third party.

Lending Services are available through banking and non-banking subsidiaries of Wachovia Corporation,including,but not limited to Wachovia Bank,N ational Association and Wachovia Bank of Delaware,N ational Association. All loans subject to credit approval,verification,and collateral evaluation. Initial decision is subject to your meeting specific underwriting requirements and finalapproval will be based upon your satisfying those requirements. Loans originated by Wachovia Mortgage Corporation. Products not available in all states. Wachovia Securities is the trade name under which Wachovia Corporation provides brokerage services through two registered broker-dealers: Wachovia Securities,LLC,member NYSE/SIPC,and Wachovia Securities Financial Network,LLC,member FINRA/SIPC. Wachovia Bank and Wachovia Bank of Delaware are Equal  Opportunity Lenders. Wachovia Securities is not a tax or legal advisor. Each broker-dealer is a separate non-bank affiliate of Wachovia Corporation ©2004 Wachovia Securities,

Securities and Insurance Products:

NOT INSURED BY FDIC OR ANY FEDERAL GOVERNMENT AGENCY • MAY LOSE VALUE • NOT A DEPOSIT OF OR GUARANTEED BY A BANK OR ANY BANK AFFILIATE