Understand the full picture before changing your mortgage.
A refinance should support a clear objective. That may be a payment change, different loan term, equity access, debt restructuring or an investment strategy. I want to understand what matters to you, evaluate the costs and tradeoffs, and help you determine whether a change is worthwhile.
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What we compare
Existing balance, rate, payment and remaining term; proposed balance, rate, payment and term; estimated closing costs; cash received or debts paid; payment difference; break even where relevant; and the longer term effects of replacing the existing loan.
Cash out and investment properties
Accessing equity means taking on or restructuring debt. We look at how the funds would be used and whether the proposed financing supports the goal. For investment properties, we can also evaluate cash flow, leverage, reserves and program alternatives, including DSCR where appropriate.
The right answer may be not to refinance
If the costs or tradeoffs do not support your objective, that is valuable information. A good mortgage conversation does not need to end in a new mortgage. Tell me what you have today and what you would like to change. We can decide together what analysis makes sense next.
Refinancing is the process of paying off your existing mortgage with a new mortgage. Typically, you refinance your mortgage to reduce your interest rate and monthly payment or change the length (or term) of your mortgage. You may also refinance to take cash out from your home’s equity.
