What are the benefits of Mortgage Refinancing? Shares Valley West Mortgage, a 2022 ThreeBestRated® award-winning Mortgage lender company from Las Vegas, Nevada

If you’ve got a mortgage, it’s certainly bound to be one of your significant financial commitments. Professionals like Vatche Saatdjian, President/CEO of Valley West Mortgage, expect mortgage rates to rise slightly due to inflation, and Fed tightening, and also believe the market will continue to expand this year, although at a slower pace (thanks to the pandemic). This means it might be a good time to refinance your mortgage and save some money.

In this era of pandemic(and economic uncertainty), refinancing your mortgage can give you respite by lessening the monthly payments and interest rates, saving you money over time. Refinancing can be tricky, especially if you’re unclear about what to expect.

What is Mortgage Refinancing?

Mortgage refinancing (refi) is when you take out a new loan to substitute your current one. You’ll have a new mortgage with potentially different terms but keep your existing house. You go through similar procedures for getting a new home like applying for a loan, underwriting, home appraisal, and closing. The only difference is you keep your present home(instead of looking for a new one).

Benefits of Mortgage Refinancing

Vatche Saatdjian, President/CEO of Valley West Mortgage (a 2022 ThreeBestRated® award-winning Mortgage company), says," depending on what kind of mortgage you’re paying and what sort you’re refinancing it into, the benefits of refinancing your mortgage might include:

● a lower annual percentage rate(APR)
● a lower monthly payment
● a shorter payoff term
● the ability to cash out your equity for other uses
● Consolidated debt

Once you’re determined to refinance, it’s time to crunch some digits. While refinancing your mortgage sounds great on paper, it may not always put you in a better place. It’s best to consider the pros and cons, considering your financial situation.

Availing the services of a mortgage lender like Valley West Mortgage can help you decide on the best mortgage. With Valley West Mortgage, you can make confident and informed financial decisions.

About Valley West Mortgage

Established in 2004, Valley West Mortgage is a leading mortgage lender from Las Vegas, NV, licensed to operate in 25+ states. They strive to offer the best value, service, and loan products to match your financial goals. Valley West provides Debt Consolidation, VA, Fixed and Adjustable Rate, Conventional, Purchase, Reverse Mortgage & Refinance Loans to people across the nation.

Valley West is a ThreeBestRated® Mortgage company that has helped finance the dreams of thousands of families and individuals for the past 17+ years. They offer a straightforward approach to home purchasing and refinancing mortgage solutions, guaranteeing you transparency throughout the entire process. Valley West offers mortgage solutions with competitive rates and commitment to customers (They always put the customers’ needs first).

On the Award

On winning the 2022 ThreeBestRated® award for one of the best Mortage companies in Las
Vegas, Vatche Saatdjian says,” I am ecstatic to be showcased by ThreeBestRated®. We
work very hard every day to impact people’s lives positively and consider it an honor that
ThreeBestRated® recognizes us for our dedication to the mortgage community.”

Work with Valley West Mortgage – a team of dedicated professionals that always look out for your best interest and get a mortgage loan tailor-made for you.

The post What are the benefits of Mortgage Refinancing? Shares Valley West Mortgage, a 2022 ThreeBestRated® award-winning Mortgage lender company from Las Vegas, Nevada first appeared on PRUnderground.

Mortgage Rates April 27, 2020

Mortgage Headliners: 

Getting Answers...Should I delay my mortgage payment...
Homeowners with federal loans won’t have to pay lump sum after pausing payments
Coronavirus related forbearance requests still on the rise…
The housing industries response to the corona virus…
Nearly 10% of FHA and VA borrowers are in forbearance. Total forbearance nearing 7%...

We’re watching the market closely…

If you’re in the market to purchase or refinance give us a call today (888) 931-9444 or (702) 696-9900

Coronavirus-FHA 680 FICO

Things are moving so quickly in the market with the coronavirus being at the forefront, everyone is feeling hardship across the board.

FHA Loans provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories.  It is one of the largest insurers of mortgages in the world, insuring more than 46 million mortgages since its inception in 1934 and it's the only government agency that operates from its self-generated income.

Self-generated income which means the Mortgage insurance premiums that is collected from borrowers via lenders are used to operate the program.

FICO scores tells the lender what type of credit risk you are and what your interest rate should be to reflect that risk by utilizing a FICO formula.

The most commonalty used :

Equifax Beacon 5.0

Experian/Fair Isaac Risk Model v2

TransUnion FICO Risk Score 04

We’re seeing what’s “good” for rates can be bad for lenders, and what’s “good” for the market can be bad for home buyers. This tug of war has caused servicers to implement drastic measures to keep up; includes raising the minimum FICO.  If you have questions or concerns please contact your lender right away.

Mortgage Rates March 17, 2020

Mortgage Headliners: 

Economist predicting emergency rate cut this week…
Negative Interest Rates Unlikely…
Coronavirus economic package in full...
Trump is considers letting homeowners delay mortgage payments...

We’re watching the market closely…

If you’re in the market to purchase or refinance give us a call today (888) 931-9444 or (702) 696-9900

Mortgage Rates March 16,2020

Mortgage Headliners: 

Mortgage stress test changes suspended…
Why you can't get that historically low mortgage rate…
Coronavirus sends mortgage rates lower…
Mortgage investors cheer as Federal reserve starts…
Fed funds rate pinned at zero…
Keep your eyes on stock news…
Preparing for Recession…

We’re watching the market closely…

If you’re in the market to purchase or refinance give us a call today (888) 931-9444 or (702) 696-9900

Mortgage Rates March 12, 2020

Mortgage Headliners: 

A flood of mortgage applications drive rates higher...
How the coronavirus outbreak is moving mortgage…
Mortgage rates rise sharply from last week's record low…
Mortgage rates are mixed after hitting all-time lows…
Mortgage demand is so high that lenders turn away…
Coronavirus looms over crucial spring season for housing…
Bonds are responding…

We're watching the market closely...

If you’re in the market to purchase or refinance give us a call today (888) 931-9444 or (702) 696-9900

Mortgage Rates Feb 27, 2020

Mortgage Headliners: 

Low mortgage rates drive housing market...
Falling rates could boost mortgages ahead...
Housing to Get a Jolt with virus pushing down mortgage...
US Mortgage Rates Decline; 30-year loan...
Corona virus could push mortgage rates to all-time lows...
Virus fears push mortgage rates even lower...
Mortgage origination hit new highs...

Lock Recommended

If you're in the market to purchase give us a call today (888) 931-9444 or (702) 696-9900


Don't Be Overwhelmed With Paperwork

We know with any purchase process gathering all of the necessary documents can be quite hassle even for the most organized. All lenders want and need detailed information about your finances to determine if you quality for a home loan.

We've provided a basic list that can help assist with this daunting task. Keep in mind each situation is uniquely different so if you don't know what you need ask your lender.

Proof of income

Lenders want to know that you'll be able to repay the loan. Depending on your income history and size of loan, you may have to show additional documentation


Your debt can seriously impact your debt-to-income ratio which can be Up to 57% FHA Up to 50% for Conventional across the board*

*May fluctuate*


Having assets just in case unexpected expenses occur after you close on the house is a factor in the home buying process.

If you received money towards the down payment as a gift, you may be required to provide documentation/letter stating it was a gift and not a loan.

Bank Statements, investment records, retirement accounts, real estate, auto titles, and any other investments require that you provide documentation.

Other paperwork

This can include a signed 4506-T form, that allows your lender to get a transcript of your tax returns from the IRS.

If you have filed bankruptcy in the past several years, you may be asked for your bankruptcy discharge papers.

Documentation that you're involved in any lawsuits or co-sign on any loans

If you're renting out your current home a lease agreement and income received may need to be provided.

If you're a renter with a private landlord, 12 months of cleared checks on time may be required or a form confirming on-time rent.


The mortgage industry is striving to make this process more streamline by offering services that are more automated and user friendly.

Visit Valley West Mortgage for our Online Application and our Secure Document Uploading


Might Miss A Payment(s)?

We all know things happen that are out of our control. An unexpected medical bill or a car emergency. These types of situations can throw off your whole budget and cause you to worry about missing a mortgage payment or several payments. Do you know what to do?

Contact Your Mortgage Servicer

Always be prepared to tell the why you can't make your monthly payments and whether or not this is temporary or permanent and also provide them with other details about your income expenses. In some cases, your mortgage servicer may have programs in place to help you avoid that dreadful word, foreclosure.

Calling a HUD- approved housing counselor

It's free and can help you find a counselor near you. They can assist to help you figure out if you qualify for help and help you further understand any assistance your mortgage company  may have offered you.

Failure to Communicate/Pay

In general, not paying your mortgage will be reported by your lender to the three major credit bureaus and they will lower your credit score. In addition, after a grace period (generally a week to 15 days after the payment due date), a late fee will be added on to the payment you failed to make.**


When  you're going through a situation like this, it is imperative to watch out for scams. Never pay anyone to help you to avoid foreclosure. They might tell you they'll save your home foreclosure when they're really just taking your money.

If and when this ever happens make sure you're in contact with your mortgage servicer. They're more likely to work with you if you let them know before you miss a payment.some lenders being willing to offer informal forgiveness or being willing to hold off on late fees or reporting to credit agencies, in some cases people can qualify for forbearance programs. These are formal programs where people facing financial problems can miss a payment or make a lower payment for a period of time while they sort out financial problems.**


* Servicer- The company you make your payments to.

**Depends on the mortgage servicers discretion.

Visit Valley West Mortgage for our Online Application and our Secure Document Uploading

First Time Homebuyers

Tips for First-Time Home Buyers

If you search the internet for 'home buying' you'll find an abundance of tips and tricks but they're all pretty much the same.

The end result is you purchasing your dream home so we're here to help you through the process from start to finish.

There are 4 categories:

Down Payment Tips

(A) Conventional that conform to standards require as little as 3% down. 20% down no PMI required

(B) FHA (Federal Housing Administration) permit as little as 3.5% FICO Score of 580 or higher

(C) VA requires no down payment, no minimum credit score. May pay a VA funding fee.

Local Assistance Programs

Application Tips

Shopping Time

It's All About the Budget Not The Bass

Mistakes to Avoid

We're here to help you along the way. When you're ready to purchase let us know!

See Our Programs

See Our Team