Why Now May Be a Good Opportunity to Refinance Your Home Mortgage?

Dear Client and Friend,

I hope this letter finds you well. Please take a moment to read this very important report, so we can determine if refinancing is the right option for you. As your mortgage advisor, the last thing I want to see happen is you being taken advantage of by “Loan Sharks”, out there that want to make a quick buck. They will promote “No Closing Cost” which is not true; however, the reality of it is there will be some cost to refinancing. BEWARE……..

Or call me today 800-653-2684 to answer any questions you might have about the refinance of your mortgage or you can also apply online at www.thebestloantips.com/refi

Interest rates are at unusually low rates, presently around 5% for purchasing a primary residence and 6% for an investment property. With inflation rumbling in the distance, interest rates are bound to climb soon.

It’s worth refinancing your mortgage when you can cut your interest rate by at least one point.

I agree with the premise of this rule - it’s usually a good idea to refinance your mortgage loan if you have a chance to cut interest. Especially if you’re early in the life of the loan a 1% drop in your interest really adds up over the course of the loan. Today, we are seeing an average of 1.75% drop in interest rates this week.

Call today to get your rate locked in at 800-653-2684

or you can also apply online at www.thebestloantips.com/refi

Did you know that the overall percentage of the average homeowner’s income that goes to pay their mortgage has risen 12.6% from ten years ago? That can leave many people scrambling for some sort of relief - a refinance may be a way to do so.

The Reasons Why People Refinance

If you’re looking to refinance, there are many other reasons why you might be considering doing so. For example, you might be under an adjustable rate mortgage (ARM) - which I usually do not recommend for homeowners - and switch over to a fixed rate mortgage.

You may want to refinance your mortgage into a shorter term - this allows you to pay off your loan faster and build your equity quicker. For example, you might want to take your 30 year mortgage and drop it down to a 20 year loan or even a 15 year loan.

By dropping your loan in terms of total years, you’re really getting a handle on your mortgage. Dropping your mortgage down by a percentage point may often not make a very big difference in the long run in the total mortgage interest you’ll pay in general. But if you get a short term mortgage, especially combined with the lower interest, this will really make a big dent in the interest you’ll be paying over the life of the loan.

What You Need to Know About Mortgage Refinance

There are some hidden costs you need to be aware of when refinancing your mortgage. You’ll have to pay lender fees, which can include points, origination, credit report, application, and appraisal. You may have to pay third-party fees - these vary by state and Mortgage Company and can include title exam, title insurance, closing, and recording. These closing costs can range from 2% to 3% of your loan amount.

To put it bluntly, if you make a mortgage refinance decision, you do it for the long term. It must benefit you over the long haul - it must make sense in this future view context! If you think you might be moving relatively soon, and then just stop thinking about refinancing your mortgage. Be aware of what’s out there and don’t get suckered into many of these no cost refinance advertisements you may see on television and get into a bad mortgage refinance decision that can cost you money, time, and major headaches down the line.

As for the topic of refinancing your home to pay off credit card debt, I’d recommend you stay away from this course of action for the most part.

This is just such a complex and important subject it’s very hard to recommend any course of action as a blanket path for everyone to take in this situation. You really need to take into account your particular situation, learn what you can about the refinancing process, call me if you have any questions and let me assist you when you’re ready to make your decision.

Hope this information has been informative. It would be an honor to serve you for your refinancing needs. As an already preferred client, I will continue to provide great service, trust and financial mortgage advice to help save you thousands of dollars.

Sincerely,

Joseph Gross

P.S.

P.S.S. As I write this report, the rates have fallen to 4.5% for qualified clients only. Call now for details. 800-653-2684, or you can also apply online at www.thebestloantips.com/refi

P.S.S.S. Attached is a quick application update, please complete and fax back with the provided cover sheet. I have also included a list of items needed to refinance. Hurry……before rates go up. Hope everyone has a Merry Christmas and a Wonderful New Year……Don’t wait!!!! Call now, or fax your application to the office.

Items Needed to Refinancing and LOCK Your Low Rate Today!

FHA to FHA Streamline Refinance

If you currently have an FHA loan, you can qualify for one of the best hassle free refinancing options on the market. FHA streamline refinancing offers borrowers a few low-cost options for the refinancing process. The documentation is extremely light. The borrower simply needs to provide the following:

Previous Title Policy *

Survey*

Deed of Trust (1st page only) *

Note*

Current Home Owners Insurance Statement. (Declaration Page)

Payment Coupon *

HUD-1 Settlement Statement*

*These items can usually be found with your previous closing package. *

This choice displays why it's beneficial for any borrower to get into a FHA loan.

FHA Refinancing Benefits

If you currently own a home now and do not have a FHA loan, you may still be eligible to get into an FHA refinance loan. These loans get approved even with lower credit scores.

Items needed to refinance from Conventional to FHA.

Pay-stubs from the previous 30 days for all borrowers.

Bank Statements for previous (2) Months.

2006-2007 W-2’s (If after Jan 15th may need 2008 W-2’s)

Previous Title Policy *

Survey *

Deed of Trust (1st page only) *

Note* (1st Page only)

Current Home Owners Insurance Statement. (Declaration Page)

Payment Coupon *

HUD-1 Settlement Statement*

* These items can usually be found with your previous closing package. *

HURRY TO GET YOUR LOW RATE LOCKED IN TODAY….. QUESTIONS? CALL 800-653-2684

The Mortgage Analysis Package

We Are Mortgage Experts.

Welcome to our special process called

The Mortgage Analysis Program.

The “MAP” to your home-ownership!

It provides unique services and strategies to simplify the mortgage process and help you achieve your personal and financial goals.

Loan Application Form

This is not a loan commitment form

BORROWER INFORMATION

Full Name _______________________________________ Social Security Number _______________

Home Phone # __________________________ Work Phone # ___________________________

Cell Phone # ____________________________ Email __________________________________

Married Single Date of Birth _____/_____/______ Mailing address same as current? ??Yes ??No

Current Home Address __________________________________________________________________

City ___________________________________ State _________ Zip __________________

How long have you lived at this address? __________________________ Do you ??own or ??rent?

If you currently rent an apartment or home, what is your monthly payment? $________________________

EMPLOYMENT INFORMATION

Current Employer _____________________________________ Are you self-employed? ??Yes ?? No

Employer Address ________________________________ Phone Number _______________________

City_________________________ State_______ Zip__________ Start Date _______________________

Your Title _____________________________________________ Years in this line of work ___________

Please describe your compensation (hourly, salary, bonuses, commissions, etc.)

Hourly $______________/hour you work _____________ hours per week

Salary $______________/year Commissions $__________________ Terms _________________

Bonuses $________________ Terms ___________________________________________________

Other Income (SS, Child Support) $___________ Source: ______________________________________

Please list previous and/or secondary employment (we need two years total)

Employer ____________________________ Previous Secondary Self-employed? ??Yes ??No

Employer Address _________________________________ Phone Number _______________________

City _______________________________________ State ____________ Zip _____________

Your title or job description __________________________________ Years in this line of work ________

What was your start date? ________________________ End date? _____________________________

Hourly $______________/hour you work _____________ hours per week

Salary $______________/year Commissions $__________________ Terms _________________

Bonuses $________________ Terms ___________________________________________________

Loan Application Continued

This is not a loan commitment form

CO-BORROWER INFORMATION

Full Name _______________________________________ Social Security Number _______________

Home Phone # __________________________ Work Phone # ___________________________

Cell Phone # ____________________________ Email __________________________________

Married Single Date of Birth _____/_____/______ Mailing address same as current? ??Yes ??No

Current Home Address __________________________________________________________________

City ___________________________________ State _________ Zip __________________

How long have you lived at this address? __________________________ Do you ??own or ??rent?

If you currently rent an apartment or home, what is your monthly payment? $________________________

EMPLOYMENT INFORMATION

Current Employer _____________________________________ Are you self-employed? ??Yes ?? No

Employer Address ________________________________ Phone Number _______________________

City_________________________ State_______ Zip__________ Start Date _______________________

Your Title _____________________________________________ Years in this line of work ___________

Please describe your compensation (hourly, salary, bonuses, commissions, etc.)

Hourly $______________/hour you work _____________ hours per week

Salary $______________/year Commissions $__________________ Terms _________________

Bonuses $________________ Terms ___________________________________________________

Other Income (SS, Child Support) $___________ Source: ______________________________________

Please list previous and/or secondary employment (we need two years total)

Employer ____________________________ Previous Secondary Self-employed? ??Yes ??No

Employer Address _________________________________ Phone Number _______________________

City _______________________________________ State ____________ Zip _____________

Your title or job description __________________________________ Years in this line of work ________

What was your start date? ________________________ End date? _____________________________

Hourly $______________/hour you work _____________ hours per week

Salary $______________/year Commissions $__________________ Terms _________________

Bonuses $________________ Terms ___________________________________________________

Loan Application Continued

This is not a loan commitment form

LIQUID ASSETS

Checking Account Approx Balance $__________ Bank _________________________ ?? Bor ??Co-Bor

Savings Account Approx Balance $__________ Bank _________________________ ?? Bor ??Co-Bor

Retirement Account (401K, etc.) $__________ Bank _________________________ ?? Bor ??Co-Bor

Other: Describe ______________ $__________ Bank _________________________ ?? Bor ??Co-Bor

Other: Describe ______________ $__________ Bank _________________________ ?? Bor ??Co-Bor

Other: Describe ______________ $__________ Bank _________________________ ?? Bor ??Co-Bor

REAL ESTATE OWNED

If you own your own home, what is the approximate current value? $_______________________________

What year did you buy the home? ____________ What was the approx. purchase price $______________

Are the insurance and property taxes escrowed as part of your monthly payment? ??Yes ??No

If you own a vacation or second home, what is the approximate current value? $______________________

What year did you buy the home? ____________ What was the approx. purchase price $______________

Are the insurance and property taxes escrowed as part of your monthly payment? ??Yes ??No

What is the address? ____________________________________________________________________

If you own an investment property, what is the approximate current value? $_________________________

What year did you buy the property? _________ What was the approx. purchase price? $______________

What is the address? ____________________________________________________________________

*If you own other properties, please provide a detailed schedule of real estate owned with this application.

OTHER IMPORTANT INFORMATION

How is your credit history? ??Excellent ?? Good ?? Average ?? Challenged ??I have no credit history

Do any of these apply to you? ?? Bankruptcy ??Judgments ??Tax Lien ??Divorce ?? Child Support

I hereby authorize Qualified Mortgage Inc. to verify my past and present employment records, bank accounts, stock holdings, and any other asset balances that are needed to process my mortgage loan application. I further authorize Qualified Mortgage Inc. to order a consumer credit report and verify other credit information, including past and present mortgage and landlord references. It is understood that a copy of this form will also serve as authorization. The information Qualified Mortgage Inc. obtains is only used in the processing of my application for a mortgage loan. The information Qualified Mortgage Inc. obtains is only to used in the processing of my application for a mortgage loan.

Borrower Name _______________________________ Sign & Date________________________________

Co-Borrower Name___ _________________________ Sign & Date________________________________

Confidential Fax Transmittal Form

Message:

The first step in the Mortgage Analysis Program is for you to review the attached Mortgage Planning Package, complete the confidential financial overview and fax it to my office as soon as possible. This will start your loan approval process.

My team will follow-up personally with you and schedule a convenient appointment for the Mortgage Needs Analysis. This step in the program is designed to help you better understand the loan process and determine which loan best meets your financial needs.

I am looking forward to the opportunity to discuss your loan options in greater detail. I appreciate you and value your business.

Sincerely,

Joseph Gross

Debt Consolidation Expert

To:

Joseph Gross

President

Qualified Mortgage Inc.

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