MORTGAGE RATES TAKE ANOTHER DIP
What can I do to
help your family?
Is the lowest - cheapest
rate the right choice?
How can you tell
by calling banks and checking their websites?
Will they be able
to close on time after you paid upfront fees?
Whatever
your financial goals may be, there ways to analyze if you should refinance your
home or rental property. I offer a wide array of home loans to fit your needs
and lifestyle. Lower your mortgage into the three's for 30 year and twos for 15 year...
A few options are listed below.
What
are your families’ life goals? What plans are you making for the future?
- A
stable monthly payment. If you have an adjustable-rate mortgage, a
fixed-rate mortgage translates into a predictable payment of principal and
interest that doesn’t change over the life of the loan.
- To
free up cash in your monthly budget. Refinancing to a longer-term mortgage or
securing a lower fixed rate can reduce your monthly loan payment, allowing
for greater cash flow. This can help with budgeting for upcoming expenses
such as additions to your family or on the opposite spectrum -higher
expenses because you have children going to college.
- Paying
off your mortgage faster. Reducing the term of your mortgage – usually
from a 30-year mortgage to a 10-, 15- or 20-year mortgage – will
accelerate your loan payoff and help you build equity more quickly. It is
important that you look into the next five and ten years, as committing to
making a higher payment may cause undue stress in the future
- Managing
events in the future How long will you own
the house? What is coming in the next years? Is the size of the property
right for five and ten years from today?
- We
have programs even if you are upside down or your own bank turned you down I have been closing mortgage loans in
California for almost twenty five years.
To better understand the steps involved
in refinancing a home, visit my website or
better yet, let’s talk about it. Get out your current mortgage statement and a
pencil and paper. We will work together to find the lowest interest rates, improve
your FICO before you apply as that relates to the mortgage rate, and talk about
what is the best course of action for you.
If you or someone you know would like to learn more about
refinancing options, please keep me in mind. I’m always available to answer
your questions and to provide the information you need to make a decision
that’s right for you.
In general I will encourage you to find the lowest cost loan
rather than paying large fees to make a temporary fix.
Refinancing may increase the total number of monthly payments
and/or the total amount paid when compared to your current situation.
Rates change often and sometimes several times during the same day.
The relative benefits of these alternatives may vary over time and
will depend on individual circumstances. The longer you keep the property and
your loan at the new rate, the more interest savings will be realized when
compared to your current situation. Lifetime interest savings amount assumes no
prepayments on current loan. The real estate market in Orange County California
has increased, let’s talk about the value of your home, what is happening in Newport
Beach, Laguna Beach, Laguna Niguel, San Clemente, Corona Del Mar and much of
Coastal Communities in California. Reports show values within ten miles of the
ocean increasing faster than other areas of California.
Credit and collateral are subject to approval. Terms and
conditions apply. This is not a commitment to lend. Programs, rates, terms and
conditions are subject to change without notice
WHAT YOU NEED TO GATHER:
Driver’s
license or other photo ID’s
Home
address(es) for the past 2 years
Paycheck stubs
for the last 30 days
W-2’s and
Personal FEDERAL Tax Returns for the last 2 years sign page 2 of taxes
If
self-employed or commissioned, personal and/or business tax returns with
schedules
for the last 2
years (year-to-date
profit and loss statement and balance sheets may be required)
Employment
information for the past 2 years, including employer, job title, tenure and
employer’s addresses
Most recent 2
months statements (all
pages) from banks or
other financial institutions
Source of any
non-payroll deposits (order
copies through your bank)
Property
addresses for all real estate you own
Mortgage loan
statements for all mortgages
Other
insurance and HOA statements for all properties
