I have spent a good portion of my life lowering mortgage payments. It has never been easier to lower your monthly mortgage payment and save each and every month. Why do I say this? Looking back 50 years, Interest rates for mortgages have never been lower.
Let's see how low we can make your monthly payments go? These are all great programs that are niches. My email is Preston@prestonware.com
Fannie Mae/Freddie Mac Conventional Refinance - Loan to Value under 80%. Excellent credit scores . No mortgage insurance. Cash Out or No Cash Out
FHA Rate and Term Refinance - Loan to Value up to 97%. No cash Out
FHA Streamline Refinance - Any Loan to Value. Yes you can be 200% upside down on the value of your home and I can still help you. No Cash Out
Home Affordable Refinance Program - Loan to Value from 80% to unlimited loan to value. No Mortgage Insurance involved. No Cash Out
The FHA 203K program will let you do a home improvement even if you have little equity - This is one of my favorite programs that many borrowers are not even aware it exists. You can be pretty much at 100% financing and be in need of a roof or a new bathroom or kitchen. The 203K program will get you 110% of the after-improvement value of your home based on an appraisal of before and after. Great for replacing a roof or kitchen but does not apply to pools. In many cases if the customer currently has a loan in the 6's, they are able to do thge home improvement and lower their rate!
TRY an adjustable - If you are sure you are moving on in three to five years than it makes sense to lock in an adjustable rate and capture your savings now!
Have you filed for your Homestead exemption? This will save on your tax bill each and every year.
Have you done a Mitigation Report and submitted it to your insurance agent? This will save you money every year going forward. It is almost a good idea to shop your insurance once a year.
My goal is to make it smooth and easy for you.
There are really five points during the process that require your attention.
1.)The initial discussion- Takes about 15-20 minutes and then I send you an estimate by email. I do not need to pull credit, we just talk about what you are trying to do and determine how much money you will save.
2.) When you say "Let's go ahead" , I email you or regular mail you the paperwork . You look it over, sign and fax back. This is the bulk of your work during the loan.
3.) If your loan program requires an appraisal, someone has to be home when the appraisal is done. You pay with a credit card up front. This is the only money you spend during the process.
4.) Finally the closing or the "closing celebration". We can close at a nearby title company or have a notary come to your house. You will see the closing statement well ahead of time so there will be no surprises.
5.) I hope to be your lender for life. I periodically check up on you by email or phone and see how you are doing. Occasionally I can bring to light new ways for you to save money such as shopping homeowners insurance by getting a hip roof deduction for your home.