“Please let all my Mortgages be this Easy”
Joe,
My name is Rob XXXXX. I am a friend of XXXX XXXXX. He gave your info and said you may be able to help me out.
My wife and I would like to refinance our house. We have been stuck in a higher rate loan since 2008 when we did a large addition to our home. Our current rate is 7% and we have tried a few times to refinance but were told that the equity ratio to what we owe was not enough and have been paying the PMI for years.
As of the past year, it appears our equity has increased (value of house has gone up and loan has come down a little.
I think it is currently valued around $340,000 and we owe $290,000. The current mortgage is with XXXXXX Bank. I should be in a position to take some additional money off the loan (maybe $20,000). I could do this in September if needed. If that would make a difference in refinancing.
We would like to go to a 15 year mortgage (but are open to suggestions) and obviously reduce the interest rate. Our current credit score is very good its 744 according to Experian.
We have a few credit card bills but they will be paid by Sept as well.
Let me know what our options are. And we can come meet in person if need be.
Thank you sir.
So often my competition ends up getting me so much new business. When I ran the numbers for this client, the debt ratio was in the mid 20’s and I could go up to the mid 40’s. Since we are not doing any cash out we can go up to a 95% loan to value. The bottom line is the numbers work really well, and this mortgage could have been refinanced a long time ago.
“WHO ELSE DO YOU KNOW THAT NEEDS MY HELP?”
