The term refinancing means taking out another loan to replace the original or previous loan. The purpose of refinancing is for the borrower to receive a better interest rate on their loan.
Oftentimes, refinancing a mortgage is a good option for a borrower who has already paid off the original loan. Instead of creating an entirely new mortgage, the borrower is able to take out a second loan on the original mortgage. This often leads to lower interest rates. Refinancing is an ideal option for borrowers with good credit scores, but for those with less than stellar scores, it can be a risky action.
If you’re a Scottsdale homeowner and find it difficult to make high mortgage payments, refinancing might be something to consider. If you can receive a new interest rate that is better by at least 2%, it is generally recommended that you try to refinance and reduce your current interest rate.
Always double check your credit. The higher your score, the better chance you have of getting a good rate on your new loan. If you have already sent in your credit scores and have been accepted for a second loan, avoid overusing your credit cards until the deal has officially closed. Often, lenders will order a second credit check before closing.
Try to submit your final documents to your Scottsdale broker within 24 hours, and follow up once a week to check into the process. For any further inquiries about refinancing a mortgage, Contact Wohland Mortgage Team today!
Sean Wohland and Daydra Crampton were absolutely excellent to work with! They managed to get us to close within a month. Both Sean and Daydra were incredibly attentive and quick. If they get to read this, thank you so much!!Mr. Eischens
Sean is the best. Staff is excellent and personable. No issues.Ms. Thalasitis
Sean and Daydra made our process extremely easy and seamless. We appreciate all of their help and efforts! Thank you!Eade Family
Sean and his team were fantastic! The process was easy, quick, and smooth. I’ll continue recommending Sean to all our family and friends. Daydra took great care of us as we submitted paperwork and asked questions. She responded quickly and you could tell she really cared about us through the process. Sean and his team did a great job! The process was smooth, easy, and fast. I’d recommend this team to anyone looking to purchase or refinance a home. Thanks Sean and Daydra!!!Cash Family
You are the best, and have set the highest customer service bar in the industry. I love it!!! Thanks to you and your whole team!King Family
I just wanted to take a minute to compliment your team. Andrea is always very pleasant and helpful when I call. Daydra is also very nice and has gone above and beyond with after hours follow up. It’s nice to find a business that stills goes the extra mile for their clients and associates.Mr. Chappel
Extremely pleased with the overall professionalism and experience of the loan process. I am now a raving fan of Sean, his team members and Home Point Financial. 2 Thumbs Up!!Mr. Romaguera
This process has been amazing. I was nervous because they switched to me after working with another agent and lenders don’t always take care of the new guys. You guys have been great though. I really appreciate it and I’m very impressed.Kara Gaut
Sean was always available to answer questions or concerns we had. Another “great help” was Alexa Johnson, loan assistant to Sean. This young lady was incredible in keeping us posted and moving the loan rapidly along. She was the most help of all. I would recommend these two to others. The greatest help was Alexa Johnson, in California. Alexa was the hub of the wheel and we cannot say enough about how helpful she was. This loan closed early, because in great part to Alexa. She kept things moving forward and got my concerns or questions answered quickly. This experience, by far, was the best, most convenient and quickest of all the times we’ve financed a home. I would highly recommend Home Point. Particularly, Sean Wohland.Hunt Family
This is about the sixth or seventh loan Sean has done for me personally. He is very professional and I completely trust his advice and expertise. Since I am a Realtor as well, I also highly recommend him to my clients. Sean and his team are great and I am completely satisfied with my experience!McElmell Family