My name is Kent and I'm glad you are here! My online information will help you navigate the mortgage application process and then pay your mortgage off as soon as possible! If you already have a less than ideal mortgage, its not too late! You can change your situation with a little bit of careful planning and work. The pages and blog entries on this website will help you understand how to pay your mortgage off early or refinance away from it.
The power of community-by joining our online community you will receive our best and latest tips and information. Sent to you once or twice a month, these emails will help you stay focused as you prepare to buy a home or pay off your mortgage. You're one step closer to completely owning your own home! Ready to get started on a loan application today?
Just follow the link to the secure CIBM Mortgage website and I'll handle your application personally.
The power of community-by joining our online community you will receive our best and latest tips and information. Sent to you once or twice a month, these emails will help you stay focused as you prepare to buy a home or pay off your mortgage. You're one step closer to completely owning your own home! Ready to get started on a loan application today?
Just follow the link to the secure CIBM Mortgage website and I'll handle your application personally.
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One of the questions that I receive most often is "What should I expect as I am buying a home?".
The first step you should take is to decide how much you can pay each month for your house or condominium.
The total payment should be an amount that you know you will be able to pay comfortably along with your other bills and monthly savings plan.
You also need to know if you will be able to get approval on a mortgage.
Check your credit and offer suggestions about how you can position yourself favorably to get the best possible interest rate.
The first step you should take is to decide how much you can pay each month for your house or condominium.
The total payment should be an amount that you know you will be able to pay comfortably along with your other bills and monthly savings plan.
You also need to know if you will be able to get approval on a mortgage.
Check your credit and offer suggestions about how you can position yourself favorably to get the best possible interest rate.
There are many different mortgage types available.
Each mortgage type has its advantages and may be more or less appropriate for your use depending on your needs.
Like tools for the same job, some are better matched for a particular situation, and some are more expensive than others.
A few characteristics of each of the four major loan types are listed below.
Once you have some general knowledge of the different types of mortgages available, discuss your options with a trusted mortgage professional to help determine which type of financing is best suited for your situation.
Each mortgage type has its advantages and may be more or less appropriate for your use depending on your needs.
Like tools for the same job, some are better matched for a particular situation, and some are more expensive than others.
A few characteristics of each of the four major loan types are listed below.
Once you have some general knowledge of the different types of mortgages available, discuss your options with a trusted mortgage professional to help determine which type of financing is best suited for your situation.
Your loan originator will be able to help you determine what needs to be done to put you in the best possible position to refinance your mortgage with the best possible terms.
Whether you meet in person or apply online, your lender will guide you through the application steps.
Your lender will order an appraisal to determine the value that they will lend on.
This inspection and report must be ordered by your lender and will typically be scheduled with the listing realtor.
You will receive a copy of the appraisal report when it is complete (usually 1-2 weeks later).
Whether you meet in person or apply online, your lender will guide you through the application steps.
Your lender will order an appraisal to determine the value that they will lend on.
This inspection and report must be ordered by your lender and will typically be scheduled with the listing realtor.
You will receive a copy of the appraisal report when it is complete (usually 1-2 weeks later).
Add a little bit to your mortgage payment each month as an "extra principal payment" and shorten the life of your loan.
Imagine the amortization of your 30 year mortgage as a board game-360 equal payments.
Each step has two parts, principal and interest.
The goal is to jump forward more than one space at a time.
If you can propel yourself forward on the board, skipping spots along the way, you can also skip the interest for the spots you jumped.
This approach can save you thousands of dollars over time.
Imagine the amortization of your 30 year mortgage as a board game-360 equal payments.
Each step has two parts, principal and interest.
The goal is to jump forward more than one space at a time.
If you can propel yourself forward on the board, skipping spots along the way, you can also skip the interest for the spots you jumped.
This approach can save you thousands of dollars over time.
This approach works well if 10 or 15 year mortgage rates are lower than the interest rate on your current longer term mortgage.
The idea: Refinance from a longer term to a shorter term mortgage to save money on interest and to shorten the duration of your loan.
If you are able to lower your interest rate by refinancing to a shorter term mortgage, the savings will be two-fold: lower interest paid to your lender and fewer payments before you have no payments at all.
A word to those who are looking at payments only: Check out the interest component of your payment each month!
The idea: Refinance from a longer term to a shorter term mortgage to save money on interest and to shorten the duration of your loan.
If you are able to lower your interest rate by refinancing to a shorter term mortgage, the savings will be two-fold: lower interest paid to your lender and fewer payments before you have no payments at all.
A word to those who are looking at payments only: Check out the interest component of your payment each month!
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