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Refinance With Charles Martin Mortgage
Charles Martin Mortgage is a Licensed Mortgage Brokerage Firm, which means we are not limited to one lender’s rates or programs. Our competitive advantage is being able to shop your specific scenario with several wholesale mortgage lenders. With so many lenders, each with their own niche product, a CMM representative can bring the most competitive offers to your doorstep. Working with Charles Martin Mortgage will give you access to wholesale mortgage rates with no additional cost to you.
Lower your interest rate
Controlling your homeownership costs begins with your mortgage and the interest rate attached to that mortgage. The lower you can push your mortgage rate, the less money you’ll pay over the life of the loan. The most common reason to refinance is to lower the rate and payment on your mortgage.
Avoid a rate adjustment
If you are currently in an Adjustable Rate Mortgage you may want to refinance ahead of an upcoming rate adjustment. Clients may choose to refinance into a fixed rate mortgage or another ARM offering a new fixed rate period of three, five, seven or even ten years.
Shortening the term on your loan
Many clients wish to be free and clear by a certain date or age. Refinancing into a shorter term, whether it be ten, fifteen or twenty years, can help achieve that goal. An additional benefit to shortening your mortgage term is that shorter term mortgages will offer a lower rate than that of a thirty-year fixed rate mortgage.
Extending the term on your loan
Very common amongst retirees, many clients choose to extend their term to lower the payment on their mortgage. This can make staying in your home more financially feasible and sustainable. If you have twenty or less years remaining on your current mortgage, refinancing back to a thirty-year loan can deliver a significant decrease in your monthly mortgage payment.
Removing Mortgage Insurance
You may have put down less than 20% when buying your home and as a result be required to pay Monthly Mortgage Insurance. It is very possible that in a short amount of time, your home value has increased and your loan balance amortized whereby your current mortgage is equal to or less than 80% of your home’s current market value. Refinancing would allow you to remove the mortgage insurance and lower your monthly payment.
Cash out equity
Refinancing to take cash out of your home is simply converting the equity in your home into cash. This cash can be used for things like paying off credit cards or student loan debt, doing home renovations or remodeling, acquiring additional real estate and much more.
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Charles Martin Mortgage is on-line with several lenders that specialize in all types of commercial properties, including mixed-use, office, store front, industrial, light industrial and manufacturing.Before you invest in commercial real estate in New York or New Jersey, your commercial mortgage options should be investigated. Give us a call today to ensure that your next financial choice will be a good one.
We know you are likely to have questions during the course of the lending process, which is why we have an entire team of commercial mortgage experts at your disposal. We are used to assisting aspiring business owners looking for the perfect space for their new company, as well as seasoned investors just hoping for a new asset. That’s why we work at a fast pace to offer customized commercial loans that you can afford to take on.