Refi Mortgage Rates
Low refi mortgage rates are our specialty. We offer low rates everyday on all loan products such as FHA, VA, Conventional, Jumbo, USDA Rural Housing loans, Investment Property loans, and Reverse Mortgages.
Why Choose Us?
We make lending easy. Many of our forms are now signed electronically. That means you dn’t have to print off the documents, sign them, & se nd them back to us. We may or may not need a copy of your bank statements. Many of our programs allow you to log in online and validate your bank statement information yourself. Thus elminating the need for you to print out these documents. We are available seven days a week to answer your calls & meet with you. In fact most of our appointments with our clients are scheduled after work hours or on the weekends.
As of January 26, 2015 FHA lowered the FHA monthly mortgage insurance premium amount down from 1.35% to .85%. This reductions is saving borrowers a lot of money each month. In order to take advantage of the lower FHA monthly mortgage insurance premiums one does need to refinance their existing FHA loan. You can refi with either an FHA streamline with an appraisal or without an appraisal.
What’s the difference? If you do a refi without an appraisal your new FHA loan balance will become the total payoff amount minus out your MIP refund amount. If you do a refi with an appraisal you can roll in your closing cost and prepaid items and add them to your loan amount. When you do an FHA streamline refi with out an appraisal you need to have enough money to pay your own closing cost and prepaid items or be able to raise the interest rate to cover these costs. If you have a high middle fico score, it’s not an issue to raise the interest rate to cover these costs. However, if your fico score is below 620 then we won’t be able to raise your interest rate? Why because the lenders premium pricing doesn’t go any higher on the rate sheet.
Furthermore, FHA loan rates are extremely low. Rates have been down now for quite some time which makes refinancing very attractive. FHA refi’s require very little loan documentation. We don’t need W-2’s, paystubs, or a bunch of other items. We do need your last two months bank statements if you need to bring in funds to pay your closing costs and prepaid items. Otherwise, we don’t even need a bank statement nor do you need to meet any reserve requirements.
VA loans also allow borrowers to refinance with our without an appraisal. The great thing about a VA loan is that it does not carry mortgage insurance. If you have any VA benefits but are not currently in a VA loan and now meet the strict VA debt to income requirements, you might want to think about refinancing into a VA loan.
For more information on our loan products, please call our office directly at 602-358-8717.
Article 1: Refi Mortgage Rates
Prefer to fill out an online application versus a paper form? No problem. We can send you a link to fill out the loan application online. To start the process call our office at 602-358-8717 and tell us you would like us to email you the link to fill out the online application. It’s as easy as that. If you aren’t comfortable filling out an online application, no problem. We can email you the forms to be filled out, scanned, & sent back to our office.