On a daily basis, we are showered with questions from people needing help with home refinancing. When the Dodd-Frank financial laws went into effect a few years ago, it shook up the mortgage market dramatically. Many popular loan programs went vanished and many homeowners were hung out to dry in their attempts to refinance their homes for lower monthly payments.
BD Nationwide can connect you to unique lenders that offers conventional, government and alternative refinance loans to qualified applicants across the country. We anticipate that the Federal Reserve will lower rates in 2024, but home refinancing should remain affordable with easier lending rules.
- No Cost Refinance
- Bad Credit Home Equity Loan
- No Documentation Refinance
- Cash Out Loans
- Rate and Term Refinance
1. No Cost Home Refinance – The most popular request we get today is for a “no cost refinance” and this loan enables homeowners to preserve their capital and save money. It also enables consumers to keep their mortgage balance where it’s at, without raising it to cover closing costs. We offer refinancing with no lending costs under the conventional, jumbo, VA and FHA home refinance programs.
2. Bad Credit Equity Loan – This unique home equity program allows borrowers to get cash even if they have below-average credit scores. If you have credit scores between 500 and 600, you will need more equity to meet the LTV requirements.
3. Stated Income – Can I refinance with a stated income loan? Millions of homeowners need a “No Documentation Refinance” if they want to lower their monthly payment with a fixed mortgage at today’s interest rate. We can connect you with mortgage lenders that still offer refinancing programs that are designed for people that need to “state” their income and provide alternative paperwork to document their income.
4. Home Refinancing for Cash Out – One of the biggest advantages of being a homeowner is getting quick access to cheap money. For example, a homeowner can get money to construct a swimming pool while at the same time refinancing for a lower interest rate. In most cases the money they get out of the loan is tax deductible as well.
5. Home Refinance for a Lower Interest Rate – If a homeowner wants to lowest possible rate, they will usually be requested a “rates and term refinance. This is a financing term that means the borrower is changing their loan for a lower interest rate and or revised amortization schedule. “rate and Term” also infers that the borrower will not be getting money back in their refinance loan.
