Why Refinance Your Investment Property?
At Stratton Equities, if you have thought about transforming your current adjustable rate into a 30-year fixed rate mortgage loan or acquiring cash to remodel your home - our team of loan officers are here to help you each step of the way with our diverse array of Loan Products.
Evaluating your current interest rate, loan type, mortgage terms, and cash flow will help you determine if refinancing is right for you at any given time.
With attractive rates and loan programs, now is the best time to make a move - discover all of your options by calling today and talking with one of our loan officers. After you Apply Now, you'll speak directly with a qualified member of our team who can review all of our mortgage Loan Programs and choose the best option for your loan scenario.
Contact Us today to refinance your loan!
Top 3 Reasons to Refinance Your Investment Property
Lower Your Rate & Payment - One of the main reasons real estate investors choose to refinance their investment property is that you can lower your rate and payment. At this time even when interest rates are rising, after evaluating the factors of your original loan, it is a good idea to see how much you could save by refinancing. There are no-cost and low-cost options that could save you money with little to no investment.
Remove Mortgage Insurance - Based upon your current rate and private mortgage insurance (PMI) payment, refinancing is projected to save you money in the short and long term. It will help you eliminate the extra expense if you've paid down your loan balance and/or have seen an increase in your investment property's value to a point where you have at least 20% equity in your property, or a loan-to-value (LTV) of 80% or less. If the down payment on the property is less than 20%, PMI is required. Private Mortgage Payment is automatically removed in some instances, when you hit the 20 percent loan-to-value threshold. If you purchased your investment property with less than 20% down, it's probable that you're paying private mortgage insurance (pmi).
Take Cash Out - Whether it's to invest your equity back into your investment property for remodeling or to use the equity to consolidate your debts - refinancing your property is one of the best ways to make your money work for you. The best way to utilize "taking cash out" is to purchase another investment property. Currently home prices and interest rates are the lowest they've been in forever, it's a great time to invest in a property and a Cash-out refinance can be your best option.
How to Cash Out Refinance with a NO-DOC Mortgage Loan?
At Stratton Equities, Real Estate Investors can cash out refinance their an investment property with a NO-DOC Mortgage Loan that can be approved and funded in as quickly as 25 days.
A NO-DOC Mortgage Loan requires less underwriting and guidelines for Real Estate Investors to easily get approved in expedited fashion