Are you looking to refinance your home?

If you have a Reverse Mortgage, Conventional, FHA, VA, or Jumbo loan, it may be a good idea to refinance.

No matter the type of loan you currently have, I can let you know if it is cost effective to refinance to a new loan.

In the case of a reverse mortgage, you may want to refinance to have access to additional funds or lower your rate of interest. With some basic information, I can run numbers to let you know your options. With reverse mortgages, there is a benefit test which your loan must pass to ensure that you are obtaining a minimum benefit by refinancing. After we discuss your needs, I can let you know if a reverse refinance is a good idea for you, even if it does pass the benefit test.

With the other options, FHA is typically the most refinanced. This is to remove the mortgage insurance once your equity has reached over 20%. Depending on rates, it may still be a better idea to wait to refinance. I will give you your options, answer any questions you have, give you my advice, and then let you decide if moving forward is what you want to do.

My philosophy is usually to refinance if you can save an amount of money each month that will really make a difference to you. Also, I suggest that the cost to refi, origination, title, escrow etc. should be paid back within 18-24 months. I also ensure that you plan on staying in the home for a period of time past the 24 months to make it a financially sound decision.