Meet San Diego Mortgage Refinance Broker David LePari with Equis Mortgage Group
Meet this San Diego Mortgage Refinance Broker, David LePari at Equis Mortgage Group and see why one should contact him for a fast mortgage refinance in San Diego County.
The search for a San Diego Mortgage Refinance expert?
Equis Mortgage Group’s mortgage refinance experts, Principal Broker, David LePari, are on standby to help you with a refinance loan and today’s low rates.
Mortgage refinancing can offer a number of benefits.
These will vary from borrower to borrower, depending on what they are looking to achieve.
But a refinance will typically provide one or more of the following:
– A better mortgage rate
This is perhaps the most common reason for refinancing, because if mortgage rates have gone down since you took out the loan, you can often save money by refinancing your mortgage into a new home loan at the same rates. current.
Or maybe someone’s credit situation has improved so they qualify for a lower rate.
– Lower monthly payments
With a lower interest rate, you can also get lower monthly payments, especially if the mortgage has the same repayment date as your old home loan.
With a San Diego Mortgage Refinance one can also reduce monthly mortgage payments by extending the repayment date beyond what it is now, so that one pays less in principle each month.
– More predictable costs
If one currently has an ARM (variable rate mortgage), one can choose to refinance a fixed rate loan to lock in a low rate for the remainder of the mortgage.
That way, one doesn’t have to worry about increasing monthly payments if rates were to go up.
– Shorten the term of the loan with a mortgage refinance in San Diego
Many borrowers start with a 30-year home loan and then refinance to a 15-year fixed rate mortgage after a few years.
This allows them to pay off the mortgage faster and save a lot of money in interest over the term of the loan.
Mortgage rates on 15-year mortgages are also significantly lower than 30-year mortgages, so one may be able to shorten the term without a large increase in monthly mortgage payment.
– To borrow money
With a San Diego cash-out mortgage refinance, one can borrow against the equity in the home to obtain funds for any purpose.
A check is received at closing, the amount of which is added to the mortgage principal due.
Since mortgage rates tend to be lower than other types of debt and are also tax deductible, this can be a very cost-effective way to borrow.
– Consolidate debts with a San Diego Mortgage Refinance
Cash refinancing can be used to pay off other debts to save money on interest and reduce total monthly payments.
Mortgage rates are generally lower than the interest rates paid on credit cards and other unsecured debt, saving on interest payments.
Mortgages can also be repaid over longer terms than most other types of debt, up to 30 years, so monthly payments can be reduced relative to the principal of the debt, if that is the case. ‘objective.
Interest paid on mortgages and home equity loans is also tax deductible, up to certain limits, while interest paid on other debts generally is not. Couples can deduct interest paid on up to $100,000 obtained through cash refinance for debt consolidation; for singles, the limit is $50,000.
– Combine two mortgages into one
With a San Diego mortgage refinance, one can also combine a second mortgage or HELOC (home equity line of credit) into one primary mortgage at a lower rate.
It’s like a cash refinance, but because it’s used to pay off secondary mortgages, it doesn’t reduce the equity in the home, except for closing costs that might be rolled into the loan.
You also get the convenience of just one monthly payment, instead of two or more.
– Cancel mortgage insurance with a mortgage refinance in San Diego
If one has mortgage insurance paid by the lender, one can refinance once they have reached 20% equity to eliminate the premium that is built into the interest rate.
The same is true for some FHA home loans that require mortgage insurance for the term of the loan.
– Finally, remove a person with a San Diego Mortgage Refinance Loan
There are times, usually after a divorce, when someone who originally took out a mortgage is no longer financially responsible for the loan.
The only way to get them out of the mortgage is to refinance.
This can also be used to remove the name of a co-signer whose support is no longer needed and who wishes to be released from liability.
Whatever the reason for seeking help with a San Diego Mortgage Refinancetrust Equis Mortgage Group to help you get the right loan and low interest rates today.
Equis Mortgage Group, LLC NMLS #2009443 / DRE #01438695
David LePari, Broker NMLS #2027739
Company Name: Equis Mortgage Group, LLC
Contact: David Leparis
E-mail: Send an email
Call: (619) 368-0941
Address:11440 BERNARDO COURT WEST, SUITE 300
Town: San Diego
The country: United States