Payment Reduction Refinance Orange County, CA

payment reduction refinance orange county caAre you thinking of refinancing your mortgage? You can do that by replacing your current loan with a new one so you can manage your financial obligations better. This strategy is called payment reduction refinance in Orange County, CA.

At Purpose Funding, our payment reduction refinance for Orange County, CA clients can help you save significantly on interest and drop your mortgage insurance. Learn more about our payment reduction refinance in Orange County, CA and what you should take into account before deciding to apply.

Things to Consider When Applying for Payment Reduction Refinance in Orange County, CA

You might be asking, “When should I take payment reduction refinance in Orange County, CA?” If you want to potentially save more money over time while you have existing loans, think about getting payment reduction refinance in Orange County, CA. Here are the things that you should consider prior to applying for payment reduction refinance in Orange County, CA. 

Know Your Home’s Equity Before Applying for Payment Reduction Refinance in Orange County, CA

It would be best to know your home’s equity before submitting an application for payment reduction refinance in Orange County, CA. Generally, if you have a home that has little to no equity, it may be overlooked by lenders when you’re seeking payment reduction refinance in Orange County, CA. 

If your property’s equity is low, there are government programs that offer payment reduction refinance in Orange County, CA to address this predicament. However, do not hesitate to discuss your financial situation with an experienced lender to find out if you can make adjustments to be qualified for availing specific programs and other options.

Check Your Credit Score When Applying for Payment Reduction Refinance in Orange County, CA

Having an average credit score, which has a value from 600 to 700, may not convince lenders to approve a request for payment reduction refinance in Orange County, CA. If you’re trying to win your application of payment reduction refinance in Orange County, CA, it’ll be best to have a credit score of 760 or above. 

If you have a lower score, you may still be able to attain payment reduction refinance in Orange County, CA. However, the interest rates could increase. Also, be sure that your debt-to-income ratio is less than 36% as this affects your credit score overall.

Consider Your Financial Goals When Applying for Payment Reduction Refinance in Orange County, CA

As you seek payment reduction refinance for Orange County, CA homes, determine your financial situation. If you want low monthly payments upon attaining payment reduction refinance in Orange County, CA, choose a loan with long terms and low interest rates. Additionally, you can pay off your property faster by choosing a program for payment reduction refinance in Orange County, CA with low interests and the short terms.

Know Your Break-Even Point if You’re Considering Payment Reduction Refinance in Orange County, CA

The break-even point is when your cost to refinance has been covered by your monthly savings. After this specific point with payment reduction refinance for Orange County, CA homes, you will be able to fully keep your monthly savings. 

For example, you applied for a payment reduction refinance in Orange County, CA that costs $3000 and you save up around $200 per month. Thus, it will take 15 months to pay. You can then re-apply for another payment reduction refinance in Orange County, CA to decrease your monthly payments more.

Reach Out to Us for Payment Reduction Refinance in Orange County, CA

Purpose Funding is here to assist you if you’re looking for payment reduction refinance in Orange County, CA. You can expect us to listen to your needs so we can provide the recommended and the best options for your unique financial situation. To learn more about how we can help, if ever it is a matter on payment reduction refinance in Orange County, CA, reach out to us!

Making Home Ownership Within Arm’s Reach

Purpose Funding is a premium mortgage brokerage serving both the California and Texas regions. No matter what our client’s credit history is, we have a house loan that caters to their specific lifestyle. Whether you’re looking to apply for home equity or are thinking of refinancing, our team of reliable and skilled mortgage experts will walk you throughout the entire process.

Our Mission

At Purpose Funding, we try to put ourselves in the situation of our clients. We take the time to ask them questions that would allow us to learn more about their specific needs. From there, we customize a plan that would best match their financial aspirations.

Our Various Loan Offerings

We provide a variety of loan options that will allow you to make better financial decisions. Our clients will be able to receive benefits without having to worry about closing costs or any additional charges. Here are some of the plans that we specialize in:

  • Cash Out Refinance

Maximize the benefits of your equity through cash out refinancing. Whether it’s for a car, credit card, or student loan, this program allows you to obtain lower interest rates. Moreover, you’ll have a chance of increasing your home value through renovations or investing in a property to up your income.

  • Payment Reduction Finance

Find out how much you can save with our payment reduction refinance. Through this plan, you’ll be able to save an average of $750 on your monthly payments. From combining first and second loans to switching from adjustable to fixed, we provide solutions that will work best for you.

  • VA Loan

America’s heroes deserve only the best even when it comes to financing their properties. Our VA Loan enables veterans to acquire their own homes without having to worry about costly down payments. They will also be able to cash out up to a 100% of their equity or lower payments without the need of appraisals or income qualifications.

  •  Reverse Mortgage

Secure your future with our reverse mortgage loan. This program allows homeowners to fund their retirement through life-long monthly payments. With this plan, our clients will be able to receive tax-free cash returns and invest in things that they love. Whether it’s for a passion project or a dream business, the options are endless.

  • FHA Home Loan

Nothing can beat the feeling of living in a place that you can call your own. Our FHA home loan allows you to invest in a property with minimal to no down payments. On top of that, this plan also gives you the option to cash out for debt consolidation and home improvements, or lower payments without the need for appraisals or income qualifications.

  • Home Purchase Loan

Through our home purchase loan, we make owning a house easier and more accessible. We follow a systematic procedure that will enable you to sign ownership to your dream property as soon as possible. We will ensure that you are included in every step of the process. Our agents will do their best in helping you find a home that you can call your own. 

Get in Touch With Our Team

At Purpose Funding, we specialize in home refinancing, reverse mortgages, and VA loans among others. We are committed to providing our clients with unbeatable service at the highest degree of integrity. Whether you’re interested in applying for a fixed or adjustable rate mortgage, debt consolidation, refinancing, etc., we have the right plan for you.

Our highly-experienced agents will take the time to assess your personal needs before customizing the most suitable plan for you. To help you get started, you can also request a quote from one of our experts. Contact us at (844) 427-3863 today or visit us at any of our four locations.