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.
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).
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.
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 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.