UNMARRIED BUT BUYING A HOME TOGETHER? THINGS TO PLAN FOR: 3CALoan

Buying a home together is a big commitment. If you are not married and still buying a home together then you will both have some unique challenges. Before you both sign the contract and become homeowner together, you should know the ins and outs of this. Below we will explain some things which you should understand before taking the home loan for a real estate.

DISCUSS YOUR FINANCES

If you are really thinking about Buying a home together, you should know about the financial condition of each other. Before you discuss the financial background with your home loan lender, you should know about all the details of your partner like financial history, debts on their name, their credit score, and their income. Because after the home loan application process begins, you will also don’t like anything which pops up and causes any conflict. If one of you has a bad credit score, then the holder with a good credit should apply for the home loan alone. Because If you will apply for a home loan with one of you with bad credit then it could affect your approval in a negative way.

DETERMINE HOW COSTS WILL BE SPLIT

It is also important thing while buying a home together that how will you split the closing costs and down payment of your home loan. If you already live together, then it will easy for you to split because you might have planned that who will pay the bills and other expenses. And you will also need to decide that how to handle the monthly payments, monthly emergency repairs, and monthly utilities. You can create a legally binding contract between you two by writing all the expenses in order to keep track with the help of real estate attorney. For funding your home expenses, you can also create a joint bank account because it will beneficial for both of you.

UNDERSTAND OWNERSHIP OPTIONS

If you are buying a home together and splitting the cost, then you will also have to choose the type of ownership you both want to take. You have to take it seriously because this is an important factor while buying a home together with someone you are not married to. If you are paying for a loan but you are not listed as the owner on the title, you will not able to deduct the mortgage interest on your tax return. There are three types of ownership:

Joint Tenancy

In this type of ownership, both of you own the property equally. The property will get in the hand of your partner if something were to happen to you.

Tenancy in Common

In this type of ownership, each owns a percentage of the property. The ownership interest will direct go to any trust if something happens to one of you.

Sole owner

In this type of ownership, one person retains full property ownership rights. For example, if one of you has the poor credit score or if only one of you is paying all the expenses of the house.

ALWAYS HAVE A BACKUP PLAN

Sometimes the things which happen in life don’t turn out as planned. Both of you should have legal protections in place if you are buying a home together but you are unmarried. For buying a home together, it is good to draw up a partnership agreement. It is the best way to avoid the risk and go into your home purchase with a written agreement.

Final Thoughts

Buying a home together is a great investment, but you have to be careful and avoid making any costly mistakes. To find out more information about the ins-and-outs of buying a home together or If you still have any doubt, you can contact us at (818) 322-5626 or (818) 3CA-Loan today! Our goal is to provide opportunities for people to meet their financial goals. Our competitive rates, efficient services, and talented team can help ease the loan process. We help our customers every step of the way. We prioritize informing and educating our clients about the home loan process.

Our client’s happiness and confidence upon closing a deal reflect our excellent quality services. 3CALoan local mortgage broker provides no tax return home loan which is also called no tax return, without tax return, private hard money home loan, private hard money loan, bank statement home loan, bank statement loan, equity loan and many more. We will run you through the details of home loans and hold your hand throughout the process.

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Jumbo Loan vs Conforming Loan: What to Know and How to Choose

For are taking the first mortgage of your life then the whirlwind of terms can seem overwhelming. There are many acronyms, agencies and figures to keep straight between interest rate, PMI, FHA, and APY. You should start reading about jumbo loans, conforming loans, and non-conforming loans, you might found that boring but they will help you to understand the whole home loan process. In this article, we will discuss Jumbo Loan vs Conforming Loan.

Conforming Loans

Conforming loans conform to the GSE guidelines, which are also known as Fannie Mae and Freddie Mac. You may have heard about Fannie Mae and Freddie Mac but never understood what they are or what they do. To reduce some of the costs of home loan lending, loan lenders work with Fannie Mae and Freddie Mac. Conforming loans are loan amount of up to $453,100 or less for single-family homes in the US. But in few parts of US, the limit is higher like Honolulu, Hawaii, where the value of homes is much higher than average. Most people will only need to think about themselves with conforming loans.

Conforming loans offer a few benefits for homebuyers who use them because of the loans often:

• Are easier to qualify for.
• Offer lower interest rates.
• Have lower down payment requirements.
• Come with less-strict credit requirements.

Jumbo Loans

A jumbo loan is one way to purchase a high-priced or luxury home. In case you have a lower debt-to-income proportion and a higher credit score, a jumbo loan might be appropriate for you. A good number of loan specialists offer jumbo home loans currently. It’s true that the requirements are stricter than they used to be. Jumbo home loans are home loans that are more expensive and luxurious than ordinary homes. They exceed the “conforming limit” the greatest loan amount that Fannie Mae and Freddie Mac will purchase. In order to qualify for a jumbo loan, you must make a down payment of at least 20% for a purchase. The lender requires you to show your income. So, make sure to document that information. It is rarer to get a fixed-rate jumbo loan than an adjustable-rate mortgage.

Jumbo Loans offer a few benefits:

• These loans don’t require a mortgage insurance
• Loan lenders do require a smaller down payment

Comparison: Jumbo Loan vs Conforming Loan

Conforming loans are different from jumbo loans. Jumbo loans are different in their size, specifically their total value. If you want to buy an expensive home then you will need to take a jumbo loan. Applying for a jumbo loan is generally more difficult than for a conforming loan. A conforming loan is any loan amount of $453,100 or less. A jumbo loan is any loan higher than $453,100. For the most part, jumbo loans will have marginally higher interest rates than conforming loans because they are comparatively riskier than conforming loans.

FINAL THOUGHTS

Possibly, from the distinctions above, you will find the best loan between Jumbo Loan vs Conforming Loan. If you still have any doubt, feel free to contact us. You have to be careful and avoid making any costly mistakes. Our goal is to provide opportunities for people to meet their financial goals. Our competitive rates, efficient services, and talented team can help ease the loan process. We help our customers every step of the way. We prioritize informing and educating our clients about the home loan process.

Our client’s happiness and confidence upon closing a deal reflect our excellent quality services. You can contact us at (818)322-5626 or (818) 3CA-Loan today! 3CALoan local mortgage broker provides no tax return home loan which is also called no tax return, without tax return, private hard money home loan, private hard money loan, bank statement home loan, bank statement loan, equity loan and many more. We will run you through the details of home loans and hold your hand throughout the process.

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MAJOR MYTHS ABOUT GETTING INTO REAL ESTATE INVESTING

If you want to invest your money in real estate, stocks, or bonds to earn the profit then you should have some knowledge about them. You should have information about getting into real estate investing, no matter you want to earn big or little.

Getting into real estate investing is no longer that you want to buy that house. But it became a way for many people to generate income. You can earn a profit by getting into real estate investing and it is also the oldest form of investing. Many people usually take their chances with hopes that they can earn a big profit after some time by getting into real estate investing. Earlier when there was no way for people to trade in stocks and bonds, getting into real estate investing was the only way to grow their wealth. Many people need help to getting into real estate investing because they can’t afford on their own. Sometimes local hard money officers are the better option than banks. Before you invest in real estate, first you should know about their myths and realities. In this article, we will discuss some myths and facts about getting into real estate investing.

YOU NEED A LOT OF EXTRA MONEY

To make an investment the most important thing is you should have start-up capital. But it is false that to buy and sell properties for profit, you need a million of dollars. Many real estate entrepreneurs earn a big profit on someone else’s dime. Usually, Real estate entrepreneurs have the opportunities in the form of land acquisitions and to make the large-scale purchases affordable they work with other buyers with available capital.

YOU NEED A LICENSE AND SPECIFIC CERTIFICATIONS

Another myth out there is that to make an investment in home and properties only real estate professionals have the correct qualification. This is not atoll true because many individuals buy the discounted properties from the sellers and they do that legally without any license. You can work with the real estate professional.

EXPERIENCE IS REQUIRED

Another myth out there is that to make an investment in home and properties, you should have experience. We can say that if you’ll have experience then you’ll improve your chances for success in the real estate market. It is not the requirement because today’s top investors had to start as a fresher to get where they are today. You can only gain experience when you will do that as a fresher. So, don’t fear to make an investment for the first time.

YOU NEED A LOT OF EXTRA TIME

Many people spend their time in front of a television for a little research to getting into real estate investing. To make a good investment in real estate, you will soon have enough time to collect all the information.

MARKET WILL ALWAYS GO UP

Generally, in a long run real estate does increase in value. Many people bought properties assuming that real estate will always be going to go up and they will earn profit easily. But, it is not true sometimes for most people. There are good opportunities for getting into real estate investing but you have to choose wisely.

FINAL THOUGHTS

Weather, you are investing in stock or securities or getting into real estate investing there are many myths about them. There are many types of home loans in financing real estate but hard money home loans are common. Going with a hard money lender instead can be a good way to avoid traditional financing options. People like the real estate professional, house flippers, builders, and contractors are commonly found opting for this type of home loan. You have to be careful and avoid making any costly mistakes. Our goal is to provide opportunities for people to meet their financial goals through alternative financing options something different from the traditional method of money lending.

Possibly, from the distinctions above, you will find the best way to Investing in a real estate. If you still have any doubt, feel free to contact us. You can contact us at (818) 322-5626 or (818) 3CA-Loan today! 3CALoan local mortgage broker provides no tax return home loan which is also called no tax return, without tax return, private hard money home loan, private hard money loan, bank statement home loan, bank statement loan, equity loan and many more. We will run you through the details of home loans and hold your hand throughout the process.

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Pros and Cons of 15 year home loan fixed mortgage: 3CALoan

There are many different home loans available while buying a home. There are different loan varying term lengths, names, and many other factors to consider. Your local mortgage loan officer will tell you all the things related to the home loan. The local mortgage loan officer will guide you thought out the process of the home loan. In the market, there are different loan term options like a 15 year home loan and 30-year home loans. Also, you have to select an option in the rate of mortgages like an adjustable-rate mortgage or a fixed-rate mortgage. You will get benefits for your specific needs in every different type of loans. On this article, we will discuss a 15 year home loan with a fixed rate. In this type of home loan, “fixed-rate” indicate the interest rate of the home loan and “15” indicate the term of the home loan.

WHAT IS A 15-YEAR FIXED-RATE MORTGAGE?

A fixed-rate mortgage is also known as a vanilla wafer mortgage loan. The loan in which you need to pay the same amount of interest rate for 15 year home loan term. The rate and term of your home loan will affect many parts of the home loan. This type of mortgage will affect things like the amount of the monthly payment of your home loan and total interest rate which you will pay throughout your home loan.

THE LOAN TERM

There are many advantages to a 15 year home loan with fixed-rate. As compared to the 30-year loan, you will pay off your home loan in half of the time. In this type of loan, you will charge less amount of interest rate and you will also build equity faster. By taking this type of loan you will able to focus on other things in your life like paying fees for your children, traveling with your family, saving for retirement and many more.

YOUR MONTHLY PAYMENT

Your monthly payment may be higher with a 15 year home loan than with a 30-year loan term. If your loan amount is $184,000 and you have a fixed interest rate of 3.25%, you’ll pay about $1,045 every month with a 15 year home loan and about $710 a month with a 30-year loan. Because your monthly payment will most likely be lower with a 30-year home loan term than a 15 year home loan term, you may be able to qualify for a larger loan amount if you choose a loan with a longer term.

For example, your loan amount to be funded is $368,000 and you have opted for a fixed interest rate which is 3.25%, your monthly payment will be $2,090 with 15 year home loan and $1,420 with the 30-year home loan. If your loan amount is bigger than you will be able to qualify easily for a loan with longer term.

INTEREST RATES

You will lower interest rate with shorter loan terms. In the example above, for a home loan amount of $368,000, you will get lower interest rate with 15 year home loan term and higher interest rate with 30-year loan term. This is because when you opt for the short-term loan then your local mortgage loan officer assume less risk and they also get their interest back faster.

With a fixed- rate loan, the interest rate for you will remain same for 15 years from now until you make the final payment of your home loan. For example, your interest rate is 3.5%, it will remain same throughout the life of your home loan. It might be good for you because interest rates fluctuate daily.

Final Thoughts

What do you think a 15 year fixed-rate home loan is right for you? Or maybe a 30-year home loan term will be the right option for you. To find out more information about the ins-and-outs of your home loan options, contact us at (818) 322-5626 today! We will run you through the details of loans and hold your hand throughout the process. 3CALoan local mortgage broker provides no tax return home loan which is also called no tax return, without tax return, private hard money home loan, private hard money loan, bank statement home loan, bank statement loan, equity loan and many more. We help our customers every step of the way. We prioritize informing and educating our clients about the home buying process. Our client’s happiness and confidence upon closing a deal reflect our excellent quality services.

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HOW TO TRACK YOUR EXPENSES WHEN FIX AND FLIP HOMES

To easily fix and flip homes you can buy a home for a cheaper price, fix up the things which need to fix in the home and then sell it for more price which you paid off early to buy that home. From last few years, fix and flip homes have become very popular. This is only possible if you have a start-up capital to purchase a home and you can only earn the profit by selling the home quickly. If you don’t have enough capital to purchase the home then you can try private hard money loan. This is the unique opportunity in fix and flip homes to transform your house into a money-making venture. With the assistance of private hard money loan lenders in California, you can fix and flip homes easily.

Way to Earn Profit with Fix and Flip Homes

However, to earn the greatest profit you will need to stay on the top of your timetable. You can avoid going over-budget. This is very difficult to avoid in few situations like you are looking for foreclosures, or you want to buy the home in up-and-coming areas, or you are having a bad credit, then it’s better for you to don’t think about profit. If you want to have a good profit on your investment then you should buy it at the low price, you should make the repairs fast and you should make upgrades to the home. From these steps, the value of the home will definitely increase.

Expenses In Flipping Homes

Along the way, you certainly can’t afford to ignore your expenses. We will discuss few tips to help you to manage expenses throughout the fix and flip homes process. By following these steps you can repay your home loan to private hard money lenders in California in a timely and can earn the greatest profit in the process.

MATERIALS

Before you buy the property, you should check the renovations which you will have to make if you will buy that property. You should be able to anticipate costs for renovations and you will easily identify cosmetic upgrades like flooring and paint. Unfortunately, you can’t estimate all the renovations which you will have to make after purchasing that property until you purchase it. You can control the cost of materials.

MORTGAGE

Private hard money loan is better than the traditional home loan for flipping houses. In traditional home loan you will unable to obtain the home loan if you have a bad credit score but in private hard money loan, the private hard money loan lender doesn’t care about the credit history or any bumps that can damage your credit score, they only focus on the deal in their hand.

LABOR

Usually, people think that labor costs will be easy to control but it could go beyond what you have planned. Many flippers make a group of workers they can trust and already know them for a long time. By those workers, they can be sure that labor is completed in an efficient, timely, and high-quality manner.  Sometimes, there are some situations in which labor delays occur due to some factors like late delivery of materials or incorrect materials delivered or illness among workers or cold weather conditions in these situations your labor costs can differ than what you were thinking.

Final Thoughts

After all these steps you will be on your way to the flip your house easily. We help our customers every step of the way. We prioritize informing and educating our clients about the home buying process. Private Hard Money Lenders will look at your pay stubs, your credit ratings and tax records. If everything checks out then they will request you to put money down.

Our client’s happiness and confidence upon closing a deal reflect our excellent quality services. To find out more information about mortgage, contact us at (818) 322-5626 or (818) 3CA-Loan today! 3CALoan local mortgage broker provides no tax return home loan which is also called no tax return, without tax return, private hard money home loan, private hard money loan, bank statement home loan, bank statement loan, equity loan and many more. We will run you through the details of loans and hold your hand throughout the process.

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Don’t Let Your Past Employment History Affect your Mortgage

The first rule to secure a home loan is you should have 2 years past employment history. This is the thinking of most of the people. We will help you to get you around your sketchy employment past.

Stay in the Same Industry

The true meaning of 2-year past employment history is you need a history of working for at least 2 years consistently. In these 2 years, you can also change your job but that doesn’t mean you change your job from one industry to other.

For example, you are a doctor in any hospital now and have been for one year.  If next year you will choose to be a teacher in a school that’s not the same industry for you and you will not go back to the same position which you have got in the hospital. But if you are in hospital as a doctor and switched to another hospital in the next year, So it might be better for you. You might have better experience. Mortgage loan officer will always look for predictably and consistency.  Mortgage loan officer always wants the job in which you are good and industry in which you have experience. If you have a new job but in the same industry then you have more chances to succeed. According to the Mortgage loan officer, this means you can pay your home loan on time.

Avoid Gaps in Your Past Employment History

Mortgage loan officer doesn’t like the gaps in employment. If you don’t have the job then it will be a big red flag for mortgage loan officer. There are some cases like:

Unemployment for more than Six months-In this case, mortgage loan officer will don’t allow you to have a home loan until you got a new job for at least six months and after your six months work experience you can apply for a home loan.

Unemployment for less than Six months-In this case, mortgage loan officer will allow you to have a home loan after just 30 days at the new job but within the same industry of your work.

You should have a valid reason behind the gap in employment. No matter what was the situation at that time but mortgage loan officer will require the full explanation for your gap in employment. Mortgage loan officer will ask you some questions about gaps in employment like Did you fall ill and had to stop working? Or they can ask Did you leave or were you let go? Just keep in mind that you should have plenty of proof that you can show with your answer.

Look Ahead to Raises

You should tell your mortgage loan officer if you are sure that you have a raise in the future. But for this, you have to provide a valid proof of the raise. For example, your employer can show the details of your raise, including the intended date by writing a letter to the mortgage loan officer. It will be easy for you to qualifying if you have a higher income.

Create Compensating Factors to Make up for Your Past Employment History

You can show your compensating factors to the mortgage loan officer to overlook your past employment history. These things are called “make up” for your sketchy past employment history. From showing these factors you can get a mortgage loan officer on your side. By these factor mortgage loan officer will have the reassurance that you can pay the home loan payments. Compensating factors are:

• High credit score
• Ample assets you can use for reserves
• Low debt ratio

 Figure Out Your 2-Year Average

Mortgage loan officer will take a 2-year average of your income. It will be easy for you and for mortgage loan officer to calculate your job experience If you had the same job for last 2 years. You will have to show W-2s from each job which you have done over those 2 years to the mortgage loan officer.

Final Thoughts

If you don’t have a job then make sure that you should stay on top of your finance. If you default on your loans, then you will damage your credit and then you will have an even harder time securing a loan. You should be honest with your mortgage loan officer. 3CALoan local mortgage broker provides no tax return home loan which is also called no tax return, without tax return, private hard money home loan, private hard money loan, bank statement home loan, bank statement loan, equity loan and many more. We help our customers every step of the way. We prioritize informing and educating our clients about the home buying process. Our client’s happiness and confidence upon closing a deal reflect our excellent quality services. To find out more information about mortgage and how we can help, contact us at (818) 322-5626.

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Local Hard Money Lenders are a Real Estate Investors Dream: 3CALoan

Investing in a real estate is no longer that you want to buy that house. But it became a way for many people to generate income. You can earn a profit by investing in real estate and it is also the oldest form of investing. Earlier when there was no way for people to trade in stocks and bonds, real estate was the only way to grow their wealth. Many people need help to buy a real estate because they can’t afford on their own. Sometimes local hard money lenders are the better option than banks.

MONEY IS GIVEN TO THE BORROWER MORE QUICKLY

You have to be very quick when you are in the market to buy a home. Most people opt hard money home loan for this reason because the process of this home loan is very fast. In hard money loan, the local hard money lenders can lend you the home loan in just 4 days. After the final documents have been signed, received, and finalized, the money will be available to you quite quickly. Whether you need the money to purchase your dream home or for a quick sale of an investment property that’s going hot on the market, hard money home loan will be best for you. The entire process can happen much more quickly than a traditional or bank lending and mortgaging process.

If you finance a home loan from bank then you have to go through a huge underwriting process and its usually very lengthy and you also have to wait long for the approval process. There are a lot of documents which you have to fill out, paperwork to produce, and forms to sign all of this will take time. As a result, you will be able to start work on fixing your investment much more quickly if you opt private hard money loan lenders.

YOU’RE MORE ABLE TO BUY A “RISKIER” INVESTMENT

When it comes to home loans, the bank doesn’t like taking risks. If you are in the market to purchase a home that needs a lot of work, the bank will usually turn you down for a home loan. The bank will consider too much risk to give home loan even if the value of the home which you like to purchase is expected to increase after you will work on it. When it comes to the bank to finance a home loan then there is not a lot of wiggle room. Their guidelines are very specific along with the requirements about the condition of the property.

Private hard money loan lenders can understand the fact that everyone can purchase the property at cheap-rates and can also be fixed at a reasonable price. Local hard money lenders will help you better because they will take it as a good investment rather than a huge risk.

YOUR FICO SCORE COUNTS LESS

Sometimes, there are things which happen and you can’t control them, due to that your FICO score takes as hit. Things like you lost your job and due to that, you missed a few payments on your credit card. Generally, local hard money lenders don’t care about the credit history or any bumps that can damage your credit score, they only focus on the deal in their hand.

Private hard money loan lenders save time to not dig into the borrower background to analyze the financial history. They don’t care about the credit card payments which you have done or not in the past or any other mistake by you which can damage your financial health. So in this way, private hard money loan lenders are able to do closing faster than the bank. If you will go to the bank they will only offer home loans to people with good credit score.

THE DEBT-TO-INCOME RATIO IS LESS STRICT

Banks don’t like to finance a home loan if you have debt payments higher than 33% of your provable income. Situations, where you can have higher debt payment, is when you have started a new venture or you are self-employed. Local hard money lenders don’t consider debt-to-income ratio as an important part of the loan application. They are very less strict about that. Local hard money lenders are more concerned about the value of the property.

Final Thoughts

There are many types of home loans but hard money home loans are common in financing real estate. Going with a hard money lender instead can be a good way to avoid traditional financing options. For the down payments and interest rates, hard money loans are completely different from other home loans. People like real estate developers, house flippers, builders, and contractors are commonly found opting for this type of home loan. You have to be careful and avoid making any costly mistakes. Our goal is to provide opportunities for people to meet their financial goals through alternative financing options something different from the traditional method of money lending.

Possibly, from the distinctions above, you will find the best way to get a home loan. If you still have any doubt or you’re ready to obtain a home loan, Feel free to contact us. You can contact us at (818) 322-5626 or (818) 3CA-Loan today! 3CALoan local mortgage broker provides no tax return home loan which is also called no tax return, without tax return, private hard money home loan, private hard money loan, bank statement home loan, bank statement loan, equity loan and many more. We will run you through the details of home loans and hold your hand throughout the process.

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Things to Avoid While Taking Home loan mortgage to refinance loan

Home loan mortgage refinance loan means replacing the mortgage you have with a completely different mortgage. You can replace the mortgage with a new lender or use the same lender. Either way, you are essentially getting a new home loan with a whole new home loan term. In order to qualify for a home loan mortgage refinance loan, you must own your property for more than six months. There is no harm in refinancing. A good number of homeowners refinance to consolidate their debt.

At the end of the day, replacing a high-interest debt with a low-interest mortgage is a good idea. Interest rates in 2018 for home loan mortgage refinance loan are not as low as in the past. In some cases, you may be able to refinance home loan in low-interest rates. If you are getting .5% or more below what you are getting now then it may be a good option for you to refinance your home loan this year. There are some things which you can avoid while refinancing home loan.

Not Shopping Enough

While refinancing home loan, if you are considering the first interest rate is lower than what you have now then it is often a mistake. Mostly every homeowner goes to their current lender or bank for refinancing home loan. Or, they just search few lenders who are offering low-interest rates.

For your next home loan, it will always pay to shop. A difference of 1/8 of the point is not much, that payment of $25 lower per month but it adds up to thousands of interest charges over the years. For some of the home loan programs, some lenders may offer lower rates. It is always good for you to get several mortgage loan quotes.

Just Looking at Rate

If you want to home loan mortgage refinance loan then you will want a low-interest rate but there are more things which you must consider. In pricing of a mortgage, there are a lot of factors that low rate you see may not work out.

For example, the low interest rates you see that are advertised by the lenders are only for people with the best credit scores. After some time you may discover that the interest rate which you are getting is considerably higher, but after the approval process, you will not want to get back off to the deal. Closing costs also differ from lender to lender. Closing cost will come with higher fees than other loans but you may see low rates in an advertisement because this is tricky for you to get trapped. You must ask about credit report fees, loan origination fees, points, etc while shopping for your Home loan mortgage refinance loan.

Not Getting a Low Enough Rate

Many people take refinance loan for a new rate which is small to make a major difference in payment. If you are saving $40 per month on your payment then it is good for you. To recover thousands in closing costs that you have paid off, it will take you for many years.

For example, if you pay closing costs of $7500 and per month you are saving $150 on your payment then your break-even point will be 75 months which is more than six years. If per month you are only saving $75 then your break-even point is approximately twelve years. You will essentially be lost money if you will sell the home before that.

Stretching Out the Loan

Some people will recommend you that home loan mortgage refinance loan is a short-term home loan. If you’re having a 30-year loan for last 10-years, you may get benefit from refinancing into a 20-year or 15-year mortgage. In a long-term loan, you will have a higher payment and you also pay off the loan for many years but you will pay a lower rate which will be better for you.

Final Thoughts

Refinancing can be a good thing. It can save you money, lower your interest rate, or lower your term. But, you have to do it right. Contact us if you would like more information on home loan mortgage to refinance loan. 3CALoan local mortgage broker also provides no tax return home loan which is also called no tax return, without tax return loan, private hard money home loan, private hard money loan, bank statement home loan, bank statement loan, equity loan and many more. Our goal is to provide opportunities for people to meet their financial goals through alternative financing options. We can help and guide you through the process. Feel free to contact us at (818) 322-5626 or (818) 3CA-Loan today! We will run you through the details of home loans and hold your hand throughout the process.

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