Mortgage Refinancing

Mortgage refinancing may be easier than you may think

If you have a mortgage that has a high interest rate, it may benefit you to do a refinance. Refinancing means that you get a new mortgage with a different lender that replaces your existing mortgage.

People often think they cannot get the refinance they need, but this is often not true. Even if you are self-employed and need a refinance using bank statements only, or if you need to document your eligibility by showing the assets you own, there are lenders who will be happy to service you. And you don’t even need the best credit score.

Basic refinancing information for business owners & self-employed professionals

Different lending programs have different qualification requirements. As a general guideline, in order to qualify for a refinance as a self-employed borrower, you will need:

• a home equity of 20%

• a credit score of 660 or more

• a debt-to-income ratio of 43% or less (this is the ratio between your monthly income and your monthly debt servicing payments)

• at least four months worth of the full mortgage payment as a reserve in your bank account

*These are rough guidelines that do not represent a loan offer or commitment. These parameters may change at any time.

If you would like to get more information and find out if you could qualify for a refinance (without any impact to your credit report), call us today at 310-294-9417, and we will let you know within minutes what your options are.

Our mortgage features

Depending on your needs, we can provide mortgages with:

• No W2s needed

• No tax returns needed

• Bank statements only loans

• Asset-based loans

• Interest-only loans to improve your cash flow

• No prepayment penalty

• Loan programs catering to investment properties for foreign nationals

• Flexible loan modules; our loan programs often consist of different modules, each of which can be uniquely tailored to your goals

All of our loans feature:

• In-house pre-qualification without affecting your credit score

• Minimum paperwork

• Digital signing of all documents (except the final loan documents—you will sign these in front of a notary who comes to your location)

• Loans can be done remotely over the phone or by Zoom

• Lenders who appreciate your business

• Honest advice, we will listen to your situation and goals and recommend the best mortgage options for you

• No rejections, we will work with you until you qualify

When to do a refinance

Refinancing is often done when general interest rates in the market have gone down, allowing you to swap your current mortgage for a new mortgage with a better rate. It can also be done because you want to take cash out of your property, or because you want to improve your cash flow by lowering your mortgage payments. A refinance may also be necessary in the case of inheritance or divorce.

There are many options available, and we can let you know about your options during a free consultation.

Knowledge & experience

Alejandro Szita has been solving problems related to real estate and finance since 2006. He is familiar with how lenders think, what they are looking for, and what are the different refinancing programs that are available.

Thanks to his knowledge and experience, he is quickly able to ascertain the benefits and disadvantages of doing a refinance in specific situations, and he will give helpful advice on how to proceed.

Get a second opinion

If you are looking to do a refinance but have been turned down elsewhere or are not sure if a refinance would benefit you, please feel free to contact us for a second opinion. Alejandro will let you know what a refinance would look like in your specific scenario, and what options may be available to you.

Call 310-294-9417 to schedule an appointment, or self-schedule an appointment online.

“Alejandro came highly recommended by a friend, and he did not disappoint. I recommend Alejandro to anyone who needs an honest, dependable mortgage broker.”

— Nolan, Client