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When you need a quick and easy refinance of your home or investment property, try me-Joe Spisak!
My customers have said that my speed of processing, knowledgeable staff and aggressive programs set me apart from my competition.
To get started immediately click here for my on-line application.
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| There many things to consider when refinancing your home loan. I offer all my borrowers many options-all of them in writing. Also, it is important to talk with me about your goals & loan options so that I place you in the right loan for your needs. Basically, there are always 3 options for you when refinancing;
1. You can choose to have a "No-closing cost loan." This is where, for a slightly higher than the best interest rate I can obtain for you, I use the extra premium derived from this "higher rate" to pay for your closing costs.
2. You can take the lowest possible rate and "roll" the costs into your new loan.
3. You can pay for the costs out of pocket.
It is important for you to know that no one option, as a general rule, is better than another. What is important and matters most is that I provide you the information you need to make a wise financial decision...and I will!
I can be reached at 773-255-5989 or joe@joespisak.com
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Saving money is important to most consumers and refinancing your home loan is one way you can lower your monthly payments. A careful analysis combined with my advice to you will ensure that you make the wisest decision possible. The costs associated with refinancing are similar to those of obtaining an original home loan and include application fees, settlement costs, and other related fees. When refinancing, additional fees out of my control may arise and they can include a fee charged if you paid off your original mortgage early, (Did your previous mortgage lender place you in a loan with a pre-payment penalty?). The great majority of the loans I offer to my borrowers do not have these.
Typically, the costs run between 0%-2% of the total amount of the home loan.
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The decision on whether or not to refinance has, in the past, meant balancing the savings of a lower monthly payment against the costs of refinancing. In recent years, mortgage lenders, like me, have introduced "no cost" and low-cost refinancing packages that minimize or completely eliminate your out-of-pocket expenses for refinancing.
Again, it is important that we customize the loan for your needs and goals.
Therefore, even if your rate change is less than the "rule of thumb" one percentage point, you may be able to save a lot of money by refinancing. Contact me direct to discuss the various costs and laws governing the fees charged by mortgage companies and the potential savings you can enjoy.
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Many mortgage lenders will offer a refinance package where you refinance for more than the balance remaining on your old home loan. In the mortgage world this is called “cashing out”. The economy has also caused interest rates to drop recently which may allow you to refinance your home without increasing your monthly payments. The extra cash that results from refinancing can be used for many purposes; one of the smartest ways to use these funds is to pay off any loans with higher interest rates. If you are in a positive position regarding debt you may be interested in using the money for a more enjoyable purpose, such as building an addition on to your home. However you decide to spend the money, I can help you through the process.
I can be reached at 773-255-5989 or joe@joespisak.com
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When home owners make the decision to refinance their home loan they must decide which interest rate will work best for their situation. There is typically a range of interest rates at different amounts of points. It is important to note that most of the loans I offer come with 0 points. I only offer a customer the option of paying points when I see that it may make sense for them. Remember, a point is equal to one percent of the loan amount. When you work with you me you will be able to analyze the different interest rates and related points, which can save you money. Some combinations of interest rates and points may cause you to not realize the cost savings for a period of time.
So it is important that you discuss all your options with me, so that you can make an informed decision.
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Refinancing makes sense for many of my clients because refinancing can result in valuable savings. Now can be a good time to refinance for a second time. The timing is important because when interest rates are falling quickly you can reduce your monthly payments even further. So contacting me before interest rates change is usually a good idea.
I will also help you understand the tax write off's associated with a second refinance.
The money that my borrower's are saving can be used to build emergency cash funds, build additions onto their homes, invest in their retirement portfolios, pay down their credit card debts or they can save it for a child’s college fund.
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Home owners have two rate options when refinancing their home loan, fixed rate mortgages and adjustable rate mortgages, often referred to as ARM's. ARM's can be an attractive choice at certain times as they can offer very low introductory rates. But due to financial market instability, these rates can jump quickly and homeowners may find themselves paying more than they had bargained for. However, with me, Adjustable rate mortgages are not unpredictable. Homeowners who know the length of time they plan to stay in their home may secure an ARM for that specific amount of time, or a little longer, which will save the homeowner money and avoid rising payments.
I can be reached at 773-255-5989 or joe@joespisak.com
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I am knowledgeable of the laws governing taxes that are related to mortgages. Many homeowners find the tax issues related to the home loan refinance process confusing, but I can guide you through the process. To explain briefly, the Internal Revenue Service (IRS) has ruled that interest paid for refinancing must be deducted over the life of the loan. However, if the home loan is being used to make improvements to your house, you may be permitted to deduct a portion of the interest right away. The exact tax laws concerning refinancing are complex and the details should be discussed with me. However, after a conversation, I usually suggest my borrowers also consult with their personal tax advisor as well as the IRS website: www.irs.gov which may also be helpful when gathering general information on the subject of taxes and refinancing.
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Refinancing your home loan is a great way to gain extra cash. refinances are popular among home owners and our mortgage brokers are experienced with refinances. Contact us today to learn more about your refinance.
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