Tyler`s Refi Rules

“IF YOU’RE LOOKING
FOR A MORTGAGE
COMPANY AS FAST
AS I AM, CALL
ABSOLUTE
MORTGAGE.
THEY’RE FAST,
FRIENDLY, AND
RIGHT HERE IN
WASHINGTON!”
-TYLER LOCKETT
Tyler Lockett’s
•••••••••••••••••
Use a refinance to consolidate two
mortgages. When rates are low a
refinance will let you consolidate
your current mortgage with an
existing home equity loan for an over
all lower monthly payment.
Ignore the old rule of thumb.
It used to be said don’t refinance
unless you can get at least 1% less
on your interest. This isn’t always true.
There are times when even 1/2 or 1/4
of a percent can be benificial.
A.R.M. is an
Adjustible Rate
Mortgage
•
How are
Purchases
and
Refinances
Different?
•Purchase lets you
become a home owner.
•Refinance empowers
you to change the terms
of your mortgage.
•••••••••••••••••••••••••••••
What Can I
Use My
refinance
For?
•Use a refinance to
get cash for a second
home or college tuition.
•Change your mortgage
terms with a refiance.
Go from a 30 to a 15
year and lower your rate.
You’ll also pay off your
mortgage faster!
WHAT NOT TO DO WHEN
APPLYING FOR A REFI
These are a few things you should not do after
applying for a refinance and why:
• Buy a new car
• Begin a new job
• Buy new furniture and other large items using
your credit cards
• Apply for a credit card
• Default on student loans or other loans
All of these actions will cause your credit score
to change which will give lenders an inaccurate
view of your spending habits and your overall
credit score. If you take a job that pays less than
you noted on your home loan application, your
lender may not agree to grant you the loan.
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