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(410) 643-0222 Toll Free 1-888-643-3659
(410)
643-0222
Hello! Did you know that we offer Same Day firm conditional loan approval through various automated underwriting systems? Get your refinance loan approved TODAY! Are you considering refinancing your first, second, or both mortgages? There are two main considerations ... The most important question is ... "How long do you plan to stay in the house"? If less than 2 years it may not make financial sense to go through the expense of closing unless the present rate is very high. (We do offer No Point - No Closing Costs loans but the rates are slightly higher than a Zero point quote). In some cases it still may make sense to refinance... If you plan on selling in 5 to 7 years you may want to consider a 5 or 7 year A.R.M. or Balloon. Rates are lower than the standard 30 year fixed rates and the rate is fixed for either 5 or 7 years. The second question is... "What are you trying to accomplish by refinancing"? Are you trying to lower your rate or term? Are you pulling cash out for any reason (to pay off other debt, etc.)? Are you extending the term to lower your payment? Do you intend to prepay the loan? We need to know. They old saying that the new rate must be lower than 2 percent of the current rate simply does not apply with the new mortgage marketplace (zero point & other loans). Please call for a free phone consultation, if it doesn't make sense to refi, we will give you our opinion. We will NEVER recommend refinancing unless we think it benefits the borrower (unlike some companies out there, be careful). We recommend not allowing any company to pull your credit report unless you are fairly sure you are going to commit to them. Every inquiry drops a persons "score". We have seen loans turned down because of too many inquiries. It is a "catch 22" that some program's rates and approvals are based on the score. Sometimes we can quote a rate, assuming a certain score, but loan approval may be conditional on a minimum score, which we will not know until we check the credit...
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