Refinance

The Rueth Team - Denver's Top Mortgage Company

VA Loan Refinance
“Veterans or Active Military Seeking A Lower Interest Rate”

Veterans, active military members, retirees or qualifying family members who have a guaranteed VA Loan can seek to have it refinanced in an effort to either reduce their current interest rate or transfer an adjustable rate mortgage to a more beneficial fixed-rate option. Both instances typically help the property owner and can serve to save individual’s a lot of money over the course of a loan.

A cash out option also exists within a refinance which can be used for many purposes. By opting to take out additional funds over the current amount owed, the borrower can improve their situation by paying off higher interest debt into the security of a lower interest, longer amortization home loan.  They can also reinvest in their current primary or pull money out to increase wealth by investing in additional real estate.
 
Building wealth through a simple refinancing opportunity is an easy method and adjustment which serves to benefit the men and women of America’s military. In most cases these changes can be executed without additional money spent out of pocket by the individual seeking a refinanced loan. Instead, the money necessary to process the new disclosure can be placed and accounted for in a new loan and then extended throughout the life of a new transaction. This practice allows for flexibility in funding and assistance for those which qualify and have this extremely beneficial option available to them.

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FHA 203b Refinance
“Quick Results with A Lower Payment”

A more readily available option for many individual’s is the Federal Housing Administration (FHA) election for refinancing. For most homeowners interested in reducing their monthly payment, this option could benefit them the most. While there are other occurrences and reasons behind seeking the positives associated with an FHA 203b Refinance, reducing the monthly expenses associated with owning a particular property are typically among the highest sought after priorities.
 
Many times this type of refinance can be administered without having an appraisal.  While an appraisal is often viewed as a necessity to refinance, it may not be mandatory and this too helps eliminate potential pitfalls and saves you money! Many of the refinancing options available to individuals, families, and others who may not qualify for a specific loan type backed by a government agency with a particular focus will commonly be able to use one of the FHA refinancing options.

Similar to the refinancing opportunities associated under alternate headings, cash out options also exist within the FHA program. By opting to acquire funds beyond the amount owed, borrowers can receive this money to assist with the payment of other expenses or debt or.. to set money aside to further invest in other real estate investment opportunities.  This allows you to optimize leverage!

Another option for refinancing a loan is the removal of a borrower/ co-signer from the loan.  Many times a parent or sibling might have co-signed for the purchase.  This is an easy way to release them from this debt. 

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Conventional Refinance
“Knowledge and Payment with Confidence”

There are many great reasons to execute a Conventional refinance.  One of our favorite is to optimize the equity trapped in your primary home to take advantage of other real estate opportunities.  At the Rueth Team, we partner with our clients to review their current and future financial goals and assess their Real Estate Wealth Plan.

Adjustable Rate Mortgages were popular for a long time.  But now rates are going up and a Fixed Rate Conventional Refinance might be exactly what is needed to reduce stress in a changing mortgage payment. This option is extremely important to those individuals who may have initially opted for a variable rate payment plan and instead of worrying from month to month or year to year about the amount to be paid for a home – they have the ability to make a known and consistent payment over the life of any particular qualifying loan.

Other great reasons for a Conventional refinance include removing mortgage insurance, releasing a VA or FHA eligibility tied up in the home, or removing a previous borrower from the liability.

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