Home Finance

Refinancing has three primary goals

Nearly all borrowers wish to achieve one of three types of goals when refinancing, the first and most common is to consolidate debt. If you have large payments on a number of high interest loans, by refinancing you can receive the many benefits available through our preferred customer refinance program. Including; Guaranteed low interest rates paying off those high interest credit cards and loans, consolidating your debts into one loan with one low monthly payment. And remember, mortgage interest paid is tax deductible.

When our special reduced interest rates are combined with debt consolidation you may well save $200, $300 or more, every month. In fact, many of our clients are able to reduce their household expenses by $500, to $700 even $1,000 or more each and every month!

The second goal some homeowners have is to simply pay off their current mortgage at a reduced rate of interest thereby lowering their mortgage payment each month, thus improving their family budget.

The third common goal homeowners have is to pay off their current higher rate mortgage and turn some of their home equity into cash to use for other purposes. Depending on the current value of your home and your existing mortgage balance, you may be able to receive up to $50,000 cash back to you.

Cost of Refinancing

In effect, refinancing is really replacing one mortgage with another. The costs of refinancing are typically similar to the costs of your original loan. Your new loan will be processed and underwritten in the virtually same manner as your original purchase loan with the same requirements: Escrow, Appraisal, Title Insurance etc.

The main difference between your new refinance loan and your original loan, as far as costs go, is that in a refinance loan costs can be 'rolled into' the new loan amount and need not be paid out-of-pocket.

Getting Started

To receive immediate loan consideration and free loan pre-approval, several options are available for you. These options include telephone conferencing with evening and weekend appointments available upon request.

We are also very pleased to offer you our convenient and secure on-line application services Our high security system automatically designates your loan request with a highest priority distinction, plus you will also receive the bonus of our special internet pricing. Please click here to apply on-line.

Whichever option you choose, you can be assured that we will begin processing your new loan request immediately. In most cases we can provide you with a conditional pre-approval the same day we receive your application. And we will keep you informed every step of the way.

Home Buying Tips

A home purchase may be your largest financial transaction to date, so it's important to make the right decisions and to keep an eye on the details. With the assistance of your Real Estate Agent and Loan Officer, it should be an efficient, pleasant, and ultimately rewarding experience.

Things you should do:

Make sure you are pre-approved as early as possible. This will put the power of financing behind you so you can concentrate on selecting your home.

Keep your Real Estate Agent informed of any questions or concerns as they develop.

Enjoy purchasing your home, but do remain objective throughout - to make the business decisions that are best for you.

Keep the process moving by providing documentation and decisions as soon as reasonably possible. By doing so, many of the details are taken care of early in the process so you can comfortably concentrate on any last-minute details or events that require your attention.

Things your Real Estate Agent should do:

Preview available homes to weed out those that are overpriced, or undesirable in some other way.

Present the homes that suit your needs as you've defined them.

Negotiate the best deal for you. With a Pre-Qualification letter from Best Government Funding in hand, your Real Estate Agent will be able to demonstrate that you are a qualified and capable borrower. This will strongly influence the Seller, and may make the difference between the Seller accepting your offer or someone else's - even if your offer is lower!

Help you determine the difference between a 'good buy' and a property which, because of its nature (neighborhood, market appeal, etc.), might have to be discounted if you decide to sell in the future.

Things Your Mortgage Broker and Loan Officer should do:

Assist you in selecting the best loan to meet your personal situation and goals. (This single decision can save you thousands of dollars throughout the years!)

Keep you informed of your loan status throughout the entire process.

Keep your Real Estate Agent informed of our loan progress (Note: your personal information is always kept confidential between you and Best Government Funding; only deal points and progress are shared).

Get the appropriate loan for you at the best rates and fees. This will save you significant money 'up front' and throughout the years to come.