RESIDENTIAL LENDING SERVICES - REFINANCE

refinance Lower Refinance Rate, Lower Payments

When you purchased your dream home, the financial environment dictated interest rates. While certain factors, like your credit rating and the amount of the down payment that you were able to afford, influenced your interest rate, the single most important factor was the prevailing rates at that moment. However, interest rates fluctuate. When the Federal Reserve enters a rate-cutting period, the prevailing rates may become significantly lower than when you originally purchased your home. By refinancing your mortgage when interest rates are lower, you can exchange a higher interest rate for a lower one, which, in turn, will lower your monthly payment.

Shorten the Length of Your Mortgage when Refinancing

Another advantage of home refinancing is that you can shorten the term of your mortgage. Let's say, for example, that you originally had a 30-year mortgage and have been paying it for eight years. Thanks to mortgage refinancing, you can switch to a shorter term of either 10, 15 or 20 years. This can save you thousands of dollars of interest. Also, if the refinance rate is lower, but you maintain the same monthly payment, you will build up equity in your home more quickly, because more of your payment will be going towards principal.

Exchange an Adjustable Rate for a Fixed Refinance Rate

When interest rates are low, adjustable rate mortgages (ARMs) are the housing market's darlings. However, as interest rates increase, that adjustable rate may not look as sweet. It's also possible that you opted for an ARM because your financial future was less secure, or you weren't sure how long you'd stay in your home. If, however, you've become financially stable and know that you'll be staying in your home for several years, it may be beneficial to swap that fluctuating adjustable rate for a fixed one. You'll have more security knowing that your monthly payment will remain steady, regardless of the current market environment.

Access to Extra Cash - Cash-out refinancing

One way to put more money in your pocket is to tap into the equity you've built in your home and do a "cash-out" refinancing. In this scenario, you can refinance for an amount higher than your current principal balance and take the extra funds as cash. This can provide money for remodeling your home, paying off high-interest rate bills, or sending your kids to college.

Bye, Bye PMI

If you were unable to make a down payment of 20 percent when you purchased your home, you may have been required to purchase Private Mortgage Insurance (PMI). If your house has appreciated since then, and you've steadily paid down your mortgage, your equity may now be more than 20 percent. If you refinance, you will no longer need PMI.

In many ways, your house is like a cash cow. If you have discipline and knowledge of the benefits of refinancing, you can tap into its milk for years to come.

To find the best refinance loan offers complete our short form. You will find lenders and brokers that offer home refinance loans in California, Florida and all other states.

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COMMERCIAL LENDING SERVICES

commercial lending

Blackhawk Capital Group is an independent, licensed commercial mortgage lender and apartment lender originating small and mid-balance multifamily loan and commercial loan debt for its own portfolio, Fannie Mae, Freddie Mac, select banks, REITs and institutional investors nationwide.

With a core focus on commercial mortgage loans under $50 million, a diverse product mix, an innovative online commercial lending platform, and a staff of seasoned, experienced professionals, Blackhawk Capital Group provides a low cost, single source solution for apartment loans and commercial property loans from $250,000 to $50 million.

Blackhawk Capital Group provides commercial mortgage loans for both owner-occupied and investor properties. With commercial loans from both bank and non-bank assets, Blackhawk Capital Group is able to offer flexible commercial financing with low fixed-rates, 30 year terms, higher LTVs and quick closings.

Whether you seek funding for distressed assets, apartment, office, hotel, industrial, and retail property loans, our service oriented brokers give you the underwriting expertise required by today's tougher lending standards. Whether you are a seasoned investor or new to the market, we help you explore your best options for commercial financing.

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