WHY REFINANCE?

Your credit score is one of the factors that we consider before we get you pre-qualified for a home loan. Your credit score can range from 300 to 850. Credit scores are calculated by gathering information about you from five categories: your payment history, amounts owed on credit and debt, length of credit history, new credit, and types of credit used.

Lower your Interest Rate

Refinancing can potentially lower your monthly payment and save you money.

Cash Out Your Equity

A cash-out refinance allows you to pay off your current mortgage and take out some of your home equity in the form of a cash payment at closing. This is a great option if your home has increased in value and you’d like to cash out your equity.

Below is a personal testimonial from Derek Parent after refinancing his condo in October 2016

“I love living in a high-rise condo—the amenities, the view of the Las Vegas Strip, the pool… The perks are amazing! But having an 8% interest rate is nothing to brag about… I decided to refinance with a conventional loan and save money on my monthly payments and over the life of the loan.

When I purchased my condo a year ago, I was able to get a private money loan from a good friend of mine. The only other options out there were either cash or a hard money loan. My monthly payment was $2,552 (interest only).

With my refinance, my new payment is $1,827 per month (principal & interest). WOW! I’m saving $725 per month, which is $8,700 per year, from refinancing! AND, my payments will be contributing to the principal balance of my loan, not just interest. All I know is that I am thankful and excited about the fact that now there’s conventional financing options for high-rise condo owners.”

-Derek Parent

A Personal Testimonial

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