Refinancing During High Rates

Your new mortgage payment may not necessarily be more than your current one depending upon what it is now, and how much cash out you want. Assuming your home's FMV is $455K, your LTV is a shade over 70%. If it can be less than this, that would improve your chances of a lower interest rate and payment. Without some additional info, it's difficult for me to tell you precisely what to expect. Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to explain further. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. If you get a chance, read some of my blogposts on Lender411. They are quite informative. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. I started doing mortgage loans in CA in 2005, only do them here so I have an exceptional understanding of this extraordinary market, and, unlike the vast majority of loan officers, I am an accountant by education. As such, I am able to analyze current market conditions and structure creative loan alternatives for my clients in a manner much different, and more advantageous to them, than virtually all other loan officers. Representing more than 45 quality lenders that offer in excess of 1,500 loan programs, we definitely have something for everybody.

Good afternoon. A new loan that allows for an interest only payment will help keep you payment down. You can always pay more than the minimum interest only payment and expect that following month will require a lower interest only payment as you pay down the principal amount of the loan. This type of program offers flexibility. Let me know if you'd like to explore this option further.