INTERESTED IN REFINANCING? VALOR LENDING HAS YOU COVERED
Refinance may be a good idea to lower your interest rate, consolidate debts, or get cash from your equity. The number one reason to refinance is to reduce your interest rate. Also, refinancing is a good option if your interest rate is reduced by at least 1%. Would you be interested in refinancing? Valor Lending has you Covered.
The past couple of years has left many needing clarification about what will come. Refinancing your mortgage can possibly lower your monthly rate and filter your savings to other places needing that money.
What Does It Mean To Refinance?
When you refinance your mortgage, you take out a new loan on your property. The amount of the new loan is usually for the remainder you owe. There are several factors when it comes to refinancing your mortgage. This includes how much equity you have in your home and your credit score.
If refinancing sounds like a great idea, there may be better decisions for some individuals. When deciding if refinancing is the right move for you, It is always recommended you should weigh the pros and cons.
With that said, benefits of refinancing include a lower interest rate (APR), a lower monthly payment, a shorter payoff term, and the ability to cash out your equity for other uses.
Additionally, refinancing still comes with closing costs, just like regular mortgage loans. Further, there will be fees, including appraisal fees, title services, credit report fees, origination/administration fees, underwriting fees, etc. These fees will vary depending on where you are located, your house’s value, and the size of the loan you are taking out. It may be beneficial for you to try and calculate all the fees and closing costs to see if you’ll make your money back with what you will be saving on your monthly payment.
After you go through the pros and cons of refinancing or not, your next step will be having a team of professionals on your side to be there with you along the way. Valor Lending Group is the team you need. We work with the very best to get you the loan you need. We pride ourselves on being the best in the business and look forward to showing you that.
CONTACT US to refinance today!
Refinancing your mortgage could result in significant benefits:
Lower your monthly mortgage payment
You may have purchased or refinanced a year ago. Now, the equity you have could be much higher. Therefore, refinancing could lower your payment significantly! It doesn’t hurt to inquire about seeing what the amount could be.
Lower your interest rate
When you purchased or refinanced your home in recent years, the rates are constantly fluctuating and, as of today, could be much lower than they were. If you like, you can look into the rates today by contacting your local mortgage professional.
Eliminate Private Mortgage Insurance (PMI)
PMI is a significant payment added to your monthly mortgage obligation. A refinance would be ideal if you have at least 20% equity in your property and are still making a payment that includes PMI. It will eliminate the additional monthly expense, and your price will be set back to a 30-year amortization lowering your monthly payment.
Provide funds to put towards purchasing an investment property or second home
As a property investor or an owner looking to expand the horizons by purchasing additional property, you can use the equity you have earned from an increase in the value and principal reduction you have made in your home. You would not be losing that equity. You would be moving it from one property to another and diversifying your portfolio.
Turn your home equity into cash for home improvements
You can do it! Turn that equity into your chef’s kitchen or backyard into the oasis for your block parties. Turn that kitchen or entertainment area into what you have always pictured since you bought your home.
Pay off or consolidate debt
Stop paying those high rates on your credit cards. You can refinance your property and pay off that debt.
INTERESTED IN REFINANCING? VALOR LENDING HAS YOU COVERED
If the answer is yes, give me a call today to discuss your refinancing loan options!
Recap of our Loan Products
- Hard Money Loans (20% down / minimal documentation) are Typically funded in 7-10 days.
- Stated Income Loans (Great for business owners and self-employed) No tax returns!
- 100% financing is available (we can cross-collateralize other properties if there is enough equity)
- Valor VA Home Loan 100% financing up to $1.5MM
- Rental Property Loan – No tax returns or DTI calculation! Based on the subject property’s cash flow – No DSCR Coverage is needed!
- Flipper & Rehab Loans (Flip a property with one of our many options)
- 2nd Position Loans up to $5mm
- Raw Land & Lot Loans
- Ground-up Construction for spec homes, custom homes, and commercial ground-up.
- Farms, Vineyards, Ranches, and Agricultural Properties (25-30% down)
- 10% down Jumbo’s up to $1.5mm
- Manufactured Housing / Mobile Homes (20% down / 600+ credit score)
- Acreage Properties
- Commercial Loans up to $500mm
- 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
- Foreign Nationals Loans (no social security or residency required)
Other Programs we Offer:
- Conventional Conforming Loans
- High Balance Conforming
- Jumbo Loan Financing |10% down Jumbo to $1.5mm
- FHA, USDA
- Reverse mortgages up to $1 Million in Value
- Cash-Out Refinancing
*Terms and conditions can change daily without notice
We look forward to the opportunity to serve you!
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