There are currently two types of mortgage refinance in New York available for homeowners. These allow homeowners to refinance their original loan or the terms of the original mortgage. This type of refinancing is good for mortgages in New York that have a variable rate to change over to a fixed rate. This gives the property owner a set cost when it comes to their mortgage making it easier to budget and plan for the expense.
Conventional Loan Refinances cover a wide variety of properties, from modular home, condos and even multifamily units, or second homes. Getting the best rates on this major investment just makes fiscal sense no matter what the property will be used for.
A cash out equity refinance in new york is a conventional loan that draws on the equity the homeowner has built during the ownership, as long as the property has increased in value since the original purchase was made.
In order to obtain these mortgages in new york the costs of the loan must be at or below a set percentage of the owners’ monthly income. Using our services, we are familiar with the rules governing lending in New York can be of great benefit to those homeowners looking to refinance for a better rate or terms.
Down payments, closing costs and credit scores are all taken into consideration when filing the loan applications to the various lenders we work with. With us the process can be as painless as possible, since wedo all the legwork for you once the process begins.
Lending rules and laws can change rapidly so having someone in the homeowners’ corner when applying for any type of home loan or mortgage is a big advantage that should be made use of.
Contact us to see if you qualify for a Conventional Refinance. Email us or call now (800)842-2910.