Mortgage Refinance

If you are interested in refinancing options, then we are here to help! Fill out the quick form below and ONE of our home loan consultants will contact you within 24 hours. :) Your information WILL NOT be sent to hundreds of financial institutions.

We respect your privacy and all information is kept confidential. You will only be contacted by one professional who is capable of analyzing your financial position and finding the best loan with the lowest interest rate.

Mortgage Refinance

  

 

Why Should I Refinance My Home Right Now?

  1. Low Interest Rates -  We are seeing the lowest interest rates in U.S. History.  Among consumer loans, mortgage refinance rates are sometimes falling under 3.0% on a variety of mortgage products.  Even if you have a mortgage that is just over 4% a refinance can still lower your payment and save you tens of thousands of dollars over the life of a fixed rate mortgage.
  2. Competition – These days, it’s a little harder to get a loan for a mortgage refinance.  After the sub prime disaster, banks now require more information, higher credit scores and better proof of income.  However, banks still need to make these loans to earn revenue, so many banks are providing discounts on mortgage refinance fees in order to earn your business.
  3. Gap in Fixed Rates Terms – If you are someone that has a really good credit situation or extra income, you can benefit tremendously from changing your loan from a 30 year fixed rate mortgage to a 15 or even 10 year fixed rate mortgage as the interest rates on these loans have dropped dramatically and the gap has widened.   For example, a $200,000 mortgage, 30 year fixed at 3.75% will cost $133,000 in interest over the life of the loan.  The same mortgage at 15 year fixed and 3.00% will only cost $48,000 over the life of the loan.  Of course, it’s a higher payment, but your equity climbs rapidly.

 

Q&A About Obtaining a Loan -  Mortgage Refinance

  1. Why Would I Want a Loan Mortgage Refinance? – A lower interest rate will decrease your payment and decrease the amount of money paid over the life of the loan.  You can easily go from 5% to 3.5% on a $200,000 mortgage and save tens of thousands of dollars in interest and lower your payment by almost $200.  The mortgage cost could be as much as $3000 but you would recover that fee in less than 16 months.
  2. How Do I Get Started? – Search for the lowest mortgage refinance rates in your area. Find a lender that will work with you and try to get you the best loan.
  3. What Will I need to Get a Loan -  Mortgage Refinance -  The bank with need at least 2 years of income (usually IRS Form 1040) and w2′s or payroll stubs other documents to prove your monthly cash flow.  They will also need a credit report and information to calculate your debt-to-income ratio. Eventually you will need to get your home appraised to determine your current equity position.