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Refinancing could enable you to:
- Reduce your payments by changing the loan to an interest only loan.
- Cash out equity from your property to buy a car or pay off debt.
- Remove people that are currently on the loan title that no longer have an interest in the property. This will help avoid problems when you want to sell your property.
- Remove mortgage insurance (PMI/MIP).
- Take advantage of the opportunity to refinance with new conforming limits.
Major Factors to Discuss when Refinancing:
- Equity in Your Home: The difference between your mortgage balance and today’s market value of your home.
- Credit: Your historical ability to repay debt.
- Income: Money received in course of doing business.
Seek quality consultants. Our team studies the market and we know on each transaction we originate that we have provided the best loan available to our client, it is our fiduciary duty.
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