Why refinance and when? How do you know when it is time to refinance?
Is your mortgage a Adjustable Rate Mortgage (ARM), and are you looking to fix your rate?
Do you have a maturity date coming due?
Do you have the urge to remodel that kitchen or bathroom?
CONTACT US to refinance today!
When is it time to refinance? If you are looking to lower your interest rate, consolidate debts, get cash from your equity, now may be the time to refinance.
Refinancing your mortgage could result in significant benefits:
Lower your monthly mortgage payment
Even if you purchased or refinanced a year ago, the equity you have could be much lower meaning refinancing will lower your payment significantly! There is no harm in inquiring to see what that amount could be.
Lower your interest rate
Interest rates are always fluctuating. Refinancing is always a good idea because rates could be much lower than they were. You may want to look into what the rates are today by contacting your local mortgage professional.
Eliminate Private Mortgage Insurance (PMI)
PMI is a significant payment added to your monthly mortgage obligation. If you have at least 20% equity in your property and are still making a payment that includes PMI, then a refinance could be ideal. Not only will it eliminate the additional monthly expense, but your payment will set back to a 30-year amortization which will lower your payment.
Provide funds to put towards purchasing an investment property or second home
If you are a property investor or an owner looking to expand by purchasing an additional home, you can use your existing home as an asset. You can use the equity you have earned from an increase in the value and by the principal payments you have made to tap that equity. Instead of losing that equity, you would be moving it from one property to another and diversifying your portfolio.
Lower your loan term to pay off your mortgage faster
If you lock into a 30-year mortgage, it can seem like a lifetime to pay off the mortgage, but have you considered refinancing into a shorter-term mortgage? By doing so, you can pay off your most significant monthly obligation by getting into a 15 year fixed term and pay it off faster.
Turn your home equity into cash for home improvements
Turn that kitchen or entertainment area into what you have always pictured since you bought your home. You can do it! Turn that equity into your chef’s kitchen or backyard into the oasis for your block parties. Turn that bathroom into a spa-like space using your equity that you already have!
Pay off or consolidate debt
Stop paying those high rates on your loans and credit cards. You can refinance your property to get out of the 7% personal loan or 24% credit card interest rates into a mortgage rate below 5%!
Bottom line:
Is it time to refinance? Give us a call and let’s discuss.
Call or email me for immediate attention to your scenario!
Valor Lending Group can fund your fast-hard money loan up to $10mm in as little as 7 days often without an appraisal.
Valor Lending Group also offers literally every loan in the book! Check out more information on our programs CLICK HERE and please do not hesitate to call on me for any scenarios. I look forward to an opportunity to demonstrate my prompt and professional service.
Recap of our Loan Products:
- Stated Income Loans (No Tax Returns, no W-2s, No P&L)
- Bank Statement Income Loans (Great Bank Statement Program for business owners and self employed)
- Hard Money Loans (As low as 20% down / minimal documentation) Fund in 7-10 days.
- Flipper Loans (Flip a property with one of our many options)
- Line of Credit
- 100% Financing
- Foreign Nationals Loans (no social security or residency required)
- Raw Land & Lot Loans
- Ground up Construction for spec homes, custom homes and commercial ground up.
- 2nd Position Loans up to $5mm
- Investor Cash Flow Loan – No tax returns or DTI calculation! Based on subject property cash flow
- Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
- 10% down Jumbo’s with NO MI up to $2.5mm
- Manufactured Housing / Mobile Homes (20% down / 620+ credit score)
- Acreage Properties
- Commercial Loans up to $500mm
- 5% down Jumbo (Up to $2mm Lender paid PMI)
We also offer:
- 10, 15, 20, 25, 30 year Fixed, Conventional Conforming Loans (under $484,350)
- High Balance Conforming aka Super Conforming (from $484,350-$726,525)
- Jumbo’s to $10 Million / Super low rates! / 10% down Jumbo to $3mm
- FHA, VA, USDA
- ARM’s
- Reverse mortgages up to $10 Million Value
- Refinance including Cash Out
Check out our reviews online here.
