Interested in Refinancing? | Valor Lending Group
Are you interested in refinancing?
The number one reason to refinance is to reduce your interest rate. Historically, refinancing is a good idea if you can reduce your interest rate by at least 1%. If you are looking to lower your interest rate, consolidate debts, get cash from your equity, it may be a good idea to refinance.
The past couple years have left many people feeling uncertain of what there is to come. Refinancing your mortgage however can give you some breathing room when it comes to saving money. By refinancing your mortgage, you can lower your monthly rate and start filtering your savings to other places in need of that money. The rate of individuals refinancing has gone up by 38% from last year.
When you refinance your mortgage, you are essentially taking out a new loan on your property and usually for the remainder that you owe. There will be several factors when it comes to refinancing your mortgage, which includes how much equity you have in your house and your credit score.
Refinancing sounds like a great idea but it is not the right decision for every individual. When deciding if refinancing is the right move for you to make you should weight the pros and cons.
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.
Refinancing still comes with closing costs just like normal mortgage loans. Additionally, 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, what your house is valued at 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 to refinance 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 we look forward to showing you that.
Valor is happy to announce that we have expanded once again and are now licensed in FLORIDA!
We are excited for the opportunity to serve up EVERY loan in the book to the beautiful sunshine state and look forward to raising the bar in mortgage loan financing!
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, and in turn, refinancing will lower your payment significantly! It doesn’t hurt to inquire about seeing what amount could be.
Lower your interest rate
When you purchased your home or refinanced in recent years, the rates are always fluctuating and, as of today, 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 would be ideal. Not only will it eliminate the additional monthly expense, but your payment will 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 that 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
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.
Pay off or consolidate debt
Stop paying those high rates on your credit cards. You can refinance your property and payoff that debt.
Are you interested in refinancing?
If the answers yes, give me a call today to discuss your refinancing loan options!
Recently Funded | Valor Lending Group
$1,044,550 Loan amount | Hard Money Bridge Loan | Purchase | 65% LTV | Murrieta, CA
$1,900,000 Loan amount | Full Doc Jumbo Loan | Cash Out Refi | 31% LTV | Mirage, CA
$1,430,000 Loan amount | 24 Month Bank Statement Loan | Purchase | 65% LTV | Phoenix, AZ
$2,625,000 Loan amount | Ground up Construction Loan | Purchase | 65% LTV | Malibu, CA
$1,905,000 Loan amount | Fix and Flip Loan | Purchase | 90/100 LTV | Palos Verde, CA
$2,645,000 Loan amount | Ground up Spec Construction Loan | Purchase | 65% LTV | Palm Springs, CA
$712,500 Loan amount | DSCR Loan | Cash Out Refi | 75%LTV | 70% LTV
$4,013,750 Loan amount | Full Doc Jumbo Loan | Rate& Term Refi | 75% LTV | Newport Beach, CA
$592,500 Loan amount | DSCR Loan | Purchase | 75% LTV | Seattle, WA
$1,950,000 Loan amount | Hard Money Bridge Loan | Cash Out Refi | 70% LTV | Berkeley, CA
$3,100,000 Loan amount | 12 Month Bank Statement Loan | Purchase | 43% LTV | Coronado, CA
$1,790,000 Loan amount | Hard Money Bridge Loan | Cash Out Refi | Berkeley, CA
$1,008,000 Loan amount | Full Doc Jumbo Loan | Purchase| 80% LTV | Anaheim, CA
$1,740,000 Loan amount | Hard Money 2nd Position Bridge Loan | Cash Out Refi | 61% CLTV | Berkeley, CA
$4,775,000 Loan amount | Hard Money Bridge Loan | Cash Out Refi | 62% LTV
$505,000 Loan amount | Full Doc FNMA Loan | Purchase | 85% LTV | Ventura, CA
$2,100,000 Loan amount | Hard Money Bridge Loan | Cash Out Refi | 51% LTV | S. Carolina
And many more.
We do them all, so give me a call!
Recap of our Loan Products:
- Hard Money Loans (20% down / minimal documentation) Typically Fund 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
- Investor Cash Flow Loan – No tax returns or DTI calculation! Based on subject property cash flow
- 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)
- 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)
We also offer:
- 10, 15, 20, 25, 30 year Fixed, Conventional Conforming Loans
- High Balance Conforming aka Super Conforming
- Jumbo’s to $10 Million / 10% down Jumbo to $1.5mm
- FHA, USDA
- ARM’s
- Reverse mortgages up to $1 Million Value
- Refinance including Cash Out
CONTACT ME TODAY for immediate attention to your scenario!
If you are interested in refinancing Give us a call and let’s discuss.
**Rates and terms subject to change without notice**
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