Refinancing After Forbearance
So today with so many American homeowners deferment or forbearance on their mortgage loans, they're probably thinking, "hey, I haven't made my mortgage payment."
Need a Second Opinion? Click Here for Help!
And if I haven't made a mortgage payment, some lenders will tell you where you're not eligible to qualify.
Recently, we had a client, Nick, that actually came to us and he actually found us on the network, and he had been told by so many lenders that, "hey, you're in deferment on your mortgage payments and you have to catch up before you're eligible to qualify."
That's just not the case with lenders like us that know how to read between the lines on the via guidelines and rules.
So we were able to help Nick get a refinance completed role in those payments that were missed and overall he's saving over 200 bucks a month and he plans to be in the house for the next 10 years, it's substantial savings.
So two of the biggest things I would tell you when it comes to considering or not considering refinancing is if you have an interest rate of over 4, 4.25% or higher, and you owe roughly over 150,000 and you think you'll be in the house more than roughly two years, now would be a time to give us a call just because you've been told "no" elsewhere, it doesn't mean that it can't work if you talk to the right person.
So we're happy to help. If there's anything that you have questions on, feel free to reach out to myself or my team seven days a week. And if you're watching us on Youtube, please subscribe.
Ask Your Mortgage Questions Here
Recent Videos
Jason Pitarra
Hi, I'm a mortgage expert living in Texas. Do you have mortgage questions? How can I help? View Profile
Jason Pitarra NMLS # 130984 Branch Manager 9390 Research Blvd., Suite 305 Austin, TX 78759 (361) 651-5008 jason.pitarra@findmywayhome.com
Expert Network Questions, Comments or Feedback: support@findmywayhome.com Copyright ©2020 CrossCountry Mortgage. NMLS# 130984. 9390 Research Blvd., Suite 305, Austin, TX 78759 (361) 651-5008. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.