“Now is the time!” is coming from many mortgage lenders’ offices right now. And our team at Kevin Wildman’s Lake State Mortgage is shouting it too.
IS NOW THE TIME TO REFINANCE?
Give our office a call to see if we can help you refinance your loan and get you into a lower monthly mortgage payment! You CAN refinance with us even if we don’t have your current loan.
Want to refinance your loan? Call (616) 805-5807 to talk with my team.
Refinancing allows you to save money. With interest rates being much lower than they were five to 10 years ago, many are refinancing to get a lower rate on the remainder of their home loan balance. Lower rate = less interest paid = lower house payment = more money in your pocket. There’s really not a great reason NOT to refinance.
What do I need to refinance?
Refinancing your home is basically like applying for a new home loan. You’ll need to apply online and enter your information. We’ll need you to provide documentation for things like your income, employment, address history and tax returns. We’ll pull credit to make sure you qualify and work with you to determine the best new mortgage program for you.
Can I change loan companies when I refinance?
You do NOT have to refinance your mortgage with the same company. So for example if you are not currently a Lake State Mortgage customer, you can still call our office and apply for a refinance of your current loan through us.
Does it cost to refinance?
The costs associated with a refinance involve an appraisal (if needed for the loan) and any closing costs to process the loan. These are the costs typically involved in a new home loan. There is an option to roll the closing costs into the total home loan amount if needed. We go over all of this so that there are no surprises.
Can I refinance if I don’t have equity in my home (I’m underwater?)There are a handful of programs that have recently been approved by the federal government that allow homeowners to refinance, even if they owe more on their current mortgage than their home is worth. The HARP program and the FHA Streamline refinance program are both designed to NOT require an appraisal when refinancing a home loan. Call our office to see if you qualify for one of these programs - (616) 805-5807.
Note: By refinancing your existing loan, your total finance charges may be higher over the life of the loan. Always consult with a tax advisor concerning tax implications of your mortgage.