For many people, purchasing a home is the biggest investment you’ll make in your lifetime. When you’re considering buying an investment property, you’re very aware of the complexity of the task of securing a mortgage loan. Because of the complexity of factors to consider when purchasing an income producing property, it’s vital to work with a mortgage professional who can explain the many options available to you. I am dedicated to finding the loan that fits your financial needs based on your financial status.
As a current investment maybe you’re thinking about refinancing for any number of reasons. Some of those reasons may include property owner improvement or taking from the property to buy another investment. Refinancing is also a method of reducing the current interest rate on your existing mortgage. If interest rates have dropped since you last financed your investment property, you may want to consider refinancing. Other reasons to refinance are to pay off a balloon payment, converting an adjustable rate mortgage into a fixed rate mortgage or simply to extract some of the cash value or equity from your investment property. A home equity loan is a viable alternative to refinancing only if your home has allow-interest rate home loan compared to current interest rates or if you have a pre-payment penalty on your home loan.
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