Real Estate Refinance
Why should I refinance my mortgage?
To save money. If you have a high interest rate loan or an adjustable loan that will increase or be due soon, you should consider refinancing. The interest rate you pay is cost of borrowing money. Refinancing can save thousands of dollars and years of payments. To shorten the payback time period. If you have a thirty-year loan, you may wish to reduce the time you pay and apply more of your payment toward reducing your principal obligation and increasing your equity in the property.
ASK YOUR LOAN OFFICER OR OUR OFFICE FOR AN ANALYSIS OF YOUR SITUATION.
Why do I need to go through a settlement, I already own the house?
You must attend a settlement to review and then to sign the documents required by your lender. You will also sign a settlement statement and related documents.
What are the costs?
Each case is different. Typical lender fees, charges and costs include points, appraisal fees, credit report fees, document preparation, underwriting, and tax service fees. In typical FMNA loans, your lender will require an escrow for taxes and insurance. As the settlement agent, our charges include a settlement fee, title search fee, title insurance fee, and payoff fee. The state, county and clerk also charge fees. Each jurisdiction in the Metropolitan area charges differently. Call us for an estimate of cost. Please review the sample HUD form showing typical fees.
Why do I need title insurance and a survey?
Your lender will require title insurance and a survey as a condition of loaning the money. If you have an "owners title insurance" policy, we can usually give you a "reissue rate" saving you money. Please forward to our office your original title insurance policy. Lenders title insurance should really be called loan title insurance since it protects the note holder. When the loan it insures is paid off, the policy terminates. Since lender's policies do not transfer, and since new debts or liens against your property may have been added since your purchase (such as a home equity line of credit), a new lender's policy is required.
Here are some of our standard services:
Real Estate
Uncontested/Contested Divorce
Bankruptcy
Basic Wills/Living Wills/Trusts
Personal Consultations
Personal Injury
For specific cases or inquiries, please contact us so we can provide a fee quotation