HARP PROGRAMS HELPS WITH YOUR RENTAL HOMES

From Andrew Hahn President of Capital Advantage LLC. a Mortgage Lending Company located in Commerce City Colorado Serving Colorado and the Denver Metro area. 18 years in the Colorado Real Estate Finance.

As I pointed out in my earlier Blog about the Home Affordable Refinance program. There is another major positive aspect about this program that make it one of the few programs the government has put out there for people to take advantage of AND THIS PROGRAM WELL APPLY TO YOUR RENTAL PROPERTIES.  Now there are still some restrictions that are going to apply.  Such as you cannot have over 10 financed properties, Although i have found a lender that well finance people with over 10 financed properties. (This is a Commercial Real Estate Loan) As I stated before this program allows you to refinance even if your loan is up to 105% of the value of you property and when you refinance with this program your Mortgage Insurance remains at the same level it was before the refinance. This means that if your current loan doesn’t have mortgage insurance that if you go over 80% you do not need to obtain mortgage insurance on the new loan. This is huge because the mortgage insurance always adds so much to the payment in some cases when you add mortgage insurance it negates the savings. If you have mortgage insurance now you would be required to obtain the same level of mortgage insurance that you currently have, so if your MI premium was at 85% your premium would be the same.   You all need to check into to this program, there are many who don’t understand or think that there is actually  a program that can help them out.  If your not sure; you need to ask.  You can always call and ask.  Andrew Hahn: president Capital Advantage LLC. Mortgage lending. Or visit my business website at Capitaladvantagemortgage.com.

I never hurts to ask and that’s free. If you are eligible for the program you could realize 30 years or so of savings

When considering a refinance in Denver Metro area or anywhere in the state of  Colorado Consider Capital Advantage

APPLY HERE

Andrew Hahn more on HARP Refi Program

APPLY NOW

From Andrew Hahn President of Capital Advantage LLC. a Mortgage Lending Company located in Commerce City Colorado Serving Colorado and the Denver Metro area. 18 years in the Colorado Real Estate Finance.

As I pointed out in my earlier Blog about the Home Affordable Refinance program. There is another major positive aspect about this program that make it one of the few programs the government has put out there for people to take advantage of.  As I stated before this program allows you to refinance even if your loan is up to 105% of the value of you property and when you refinance with this program your Mortgage Insurance remains at the same level it was before the refinance. This means that if your current loan doesn’t have mortgage insurance that if you go over 80% you do not need to obtain mortgage insurance on the new loan. This is huge because the mortgage insurance always adds so much to the payment in some cases when you add mortgage insurance it negates the savings. If you have mortgage insurance now you would be required to obtain the same level of mortgage insurance that you currently have, so if your MI premium was at 85% your premium would be the same, its like your paying it now so your used to paying it but could refinance at the lower rate and still realize the saving created from the new refinance (they were thinking right when they made this program) real help and real savings. You all need to check into to this program, there are many who don’t understand or think that there is actually  a program that can help them out.  If your not sure; you need to ask.  You can always call and ask.  Andrew Hahn: president Capital Advantage LLC. Mortgage lending. Or visit my business website at Capitaladvantagemortgage.com.

I never hurts to ask and that’s free. If you are eligible for the program you could realize 30 years or so of savings

When considering a refinance in Denver Metro area or anywhere in the state of  Colorado Consider Capital Advantage

APPLY HERE

HARP program for Denver Refinancing

If you owe more than your properties value there is a program that well allow you to refinance. It’s the HARP program, don’t let this opportunity slip away, it’s your ticket to today’s low interest rates.

Andrew Hahn here President of Capital Advantage LLC. a Colorado Mortgage Lending Company since 1991. Located in Commerce City I want to urge all those who obtained a conventional mortgage  18 months ago or older that you may qualify for for the Government HARP Program which stands for HOME AFFORDABLE REFINANCE PROGRAM. this is really one of the best programs out there that helps home owners. As I am a licensed Mortgage Broker in the state of Colorado I provide my services to home owners located in Colorado and the Denver Metro Area. The information I provide regarding HARP includes all, as this is a national program.  First of all this program is aimed at those people that have conventional loans through Fannie Mae or Freddie Mac. Your loan can be an ARM or an interest only loan and you can still refinance to a fixed rate loan; it’s a great deal, now is the time to roll out of that loan with the uncertainty of there futures into a loan that can get you through the next 30 years if need be. Now if your not sure if Fannie Mae or Freddie Mac owns your loan you can go to their website and input your address and it well tell you if they own your loan; this works most of the time but there are some instances where it doesn’t work.  The best and easiest way to find out who owns your loan is to call the loan servicer who has to tell you.  Once you have found this out you now know if this program well work for you.  If you want you can contact me Andrew Hahnand I’ll be glad to help.  The best part of this loan is it allows you to take advantage of today’s low rates even if your property is worth less than what you owe ( as though as that sounds, I think we all want to keep our homes). Most lenders now when refinancing the first mortgage well go up to 105% some well go up to 125% under certain circumstances. Get ahold of me and I’ll help you determine which Loan to Value you qualify for.  Now we are only talking about the first mortgage, remember up to 105%, now if you also have a second mortgage you still qualify for the refinance but if you have a second mortgage they well need to step behind the new mortgage this is called a subordination. At first second mortgage companies were not helping out here but after some time most have come to their senses and are allowing the new first (since it is lowering your total payments what took so long for them to figure this out). Usually the second mortgage is going to want a copy of your loan application, an appraisal and a few other documents so they can make a decision if they well subordinate or not and as the way it goes the generally want some money upfront to process the request. USAA is free and subordinates most of the time. I have seen the fee anywhere from $50.00 to $300.00 (it depends on your lender). And again this is something I can help you with. If you are considering refinancing and live in the Denver Metro area please give me a call and we can set up an appointment so I can go over your options and give you an interest rate quote.

From Andrew Hahn at Capital Advantage have a great day and don’t miss this opportunity to take advantage of a good government program that allows you to take advantage of these low rates. Don’t wait to long the consensus is is that rates are on the way up.

CLICK HERE to go to my secure online application

Colorado Refinance Nows the time

With all the changes in the mortgage industry the time it takes to start and CB027333complete a loan is a bit longer than it used to be so you need to allow more time for the process.  As I watch the direction of the interest rates start to head up I feel that we probably have seen the last of the below 5% 30 year fixed rate. There still could be a retracement in the market with the problems in the commercial mortgage market and the continuing foreclosures in the residential market. I still don’t feel that the rate well come down with the looming bubble in the bond market and the fears of inflation in combination with this administrations desire to print money at will. If you are looking to refinance I think that now is the time. The interest rate that you might qualify for depends on several factors. First when refinancing in order to obtain the best rate you need to refinance the existing loan only (rate and term refinance)  unless you are below 60%- 65% loan to value because when you  refinance and receive cash out there is an adjustment to the interest rate you qualify for, there is a matrix that we use to reflect when there are interest rate adjustments which are based on the purpose of the refinance, loan to value and credit score (there can be other reasons for rate adjustments).  As everyone’s circumstances are different I would be glad to talk with you to determine what your interest rate would be. CLICK HERE to go to my business website to ask for an interest rate quote. I look forward to hearing from you. Andrew Hahn

I have excellent first time home buyer programs as well as Home affordable  refinance programs.

I’m Andrew Hahn I have over 18 years experience in the mortgage industry and provide some of the lowest interest rates the market has to offer combined with the lowest fees. I’m located in Commerce City and licensed in the state o Colorado specializing in Denver Refinance and Colorado Mortgage Lending. A Colorado Mortgage Lender, Denver Refinance

NOW is the time to refi to a Fixed Rate Loan

If your located in Colorado Let Andrew Hahn Denver Refinance Expert Help you with Your refinance. Licensed in Colorado, located in Andy Portrait cropedCommerce City Specializing in Colorado refinancing.  Back in October I pointed out that your ARM loan isn’t so bad and you can hedge your rate by holding on to the ARM until at a time in the future you want to make the move to a fixed rate loan. NOW IS THAT TIME rates are on the rise and with that advice being a bit old its time to re-evaluate your goals and needs. If your considering holding on to your property for any length of time now is the time to seriously consider locking into a fixed rate loan. Now, what you need to consider is that those index’s are not moving up as fast as the mortgage interest rates so your loan could adjust down yet another time or two. You need to think that if your true intention is to lock in the lowest fixed rate that time would by all indication be now and that the absolute best rates might be behind us now. So in order to not lose any more ground regarding catching those fixed rates I feel now is the time. I don’t think we are going to see the 30 fixed rate below 5% again or at least for anytime in the foreseeable future. In fact the prediction is to see interest rates in the low to mid 6% by the end of this year. Since the end of December rates have been creeping up; a loan that I could have locked before Christmas at 4.875% would now be at 5.25%. One of the most important thought here is that if your looking to stay in your real estate and want the better rates NOW IS THE TIME in the long run Mortgage interest rates could go way back up due to inflation that is bound to happen from all the bailout money that has been printed over the past year. If you have any question or want to talk to me about your refinance strategy give me a call or write me a comment or email  me which ever works best but don’t just sit there and think rates are going back down I don’t think that is going to happen.Visit my business website all my information is there CapitalAdvantageMortgage.com or my personal website Andrew-Hahn.com

Take a closer look at your Adjustable Rate Mortgage; it might not be as bad as they make it sound. Hour Glass

I think with all the rush/push to refinance out of that Adjustable Rate Mortgage in some cases, are alarmist and for people that have ARM loans with either Fannie Mae or Freddie Mac (not subprime) you need to step back and take a closer look at your loan and consider what your payment is going to do and understand how it works. With these ARM’s it’s more likely that your payment is going to go down. The key here is to know how your ARM works; you need to understand how to figure out what your interest rate is going to be. The interest rate is figured by adding an Index this is the variable component of your interest rate and a Margin this is the fixed component of your rate. You need to know what your index is, the two most popular indexes are either the 1-Year LIBOR (London InterBank Offer Rate) or the 1 YEAR TREASURY (1yrCMT); this is extremely important because this is the basis of your interest rate.  The index is what’s going to determine what your rate is going to be. Today 02/24/2009 the 1 year LIBOR is 2.08 and the 1 yr CMT is 0.64. Here is a great link to use to keep track of your index for the 1 yr LIBOR http://www.bankrate.com/brm/ratewatch/other-indices.asp and here is the link for the 1 yr CMT http://www.bankrate.com/brm/ratewatch/1yr-cmt.asp . Now you need to know your Margin this is the amount you add to the index to get what your interest rate will be. Most of margins tend to be between 2.25 and 2.75; again this is for non subprime loans. (The problem with subprime loans is that the margins are extremely high).  To find out what your index and your margin are, look in your closing folder and look for the Adjustable Rate Mortgage loan Rider. Now for examples sake we are going to use a margin of 2.75, now if you have the LIBOR as your index you add 2.08 ( YOU NEED TO ROUND TO THE NEAREST .125 ) this would make your interest rate if it adjusted today 4.75% this is not a bad interest by today’s standards at all. Now if your index is the 1 yr CMT at .64 (ROUND TO NEAREST .125) your rate today is 3.5% can’t touch this in today’s market. This presents a compelling argument that ARM loan aren’t that bad at this time. The question here is how long the indices will stay low. For those of you under water in your property this is the good news. All the talk from the new administration about allowing people who owe more than their property is worth is still just that HAPPY CHATTER; we will have to wait to see if they can make it happen.  Now for those few who can still qualify for a new loan you need to form a strategy of when to refinance into a fixed rate. You’ll also need to know how often your interest rate can adjust; it’s generally either every 6 or 12 months. What you want to do is enjoy your new rate but watch and lock in a new fixed rate loan when those indices start moving up to a point where your adjusted rate will be higher than what you can fix a rate at. Easier said than done; this is where you have to determine what works best for you. Also ask yourself all those important questions, like how long do you intend to stay in the property, how much are the closing cost going to be, ect… Loan to value and credit score are still extremely important and well affect your interest rate. The sweet spot is still 80% or less, whenever you go over 80% you run into mortgage insurance and this just adds to your payment. There are many factors that affect your interest rate and even your ability to refinance. If I can be of any help in determining what works in your best interest please contact me.

For a free analysis CLICK HERE

Thank you and I hope this helps Andrew Hahn

[contact-form 1 "Contact form 1"]

Refinancing in Denver? in 2010

Canada 012Refinancing in Denver? First I wish you all A Happy New Year out with the old and in with new. 2009 was pretty challenging for most and for those of you looking to refinance there are still challenges, but nothing we can’t over come. Rates are on the rise and expected to move up for 2010 so now is the time to consider refinancing. There are still many benefits to refinancing and there is still the MAKING HOME AFFORDABLE REFINANCE PROGRAM that well still allow home owners who are underwater in their property value to refinance if their loan is owned by Fannie Mae or Freddie Mac. Go to my website Capitaladvantagemortgage.com to get me your contact information so that we can determine if you are eligible for this program. Rates are still near all time lows. If the government is going to help you out lets make the most of it. I have over 18 years in the mortgage industry and this year there has been  sweeping changes, I would like to help you navigate your way through these changes and to help you get the best interest rate possible with the lowest fees. I’m Andrew Hahn located in Commerce City Colorado, I am licensed to do business in the state of Colorado. I specialize in Denver Refinance and Refinancing in the state of Colorado. If you are considering a purchase in the state of Colorado I also have over 18 years of experience in helping people purchase real estate. The Government has an incentive tax break for first time home buyers as well as a plan for those who have previously owned a home. Don’t wait the government giveth and the government well taketh away soon. Have a wonderful New Year  from Andrew Hahn Licensed in the state of Colorado

New Good Faith Estimate Easier?

In order to make mortgage lending more transparent and easier to understand the Government and HUD Simplifies Good Faith Estimate; so the people who are obtaining a new loan can more easily understand the fees and costs associated with refinancing or purchasing a home.  I am a Mortgage Broker located in Commerce City Colorado, I provide mortgage financing threw out  the State of Colorado.DENVER REFINANCE, ANDREW HAHN

Although I,m in Colorado this affects everyone who is obtaining mortgage financing.  The original Good Faith Estimate was a 1 page document that the mortgage professional would use to explain the costs and fees involved with mortgage financing. The old Good Faith Estimate would actually show the borrower what his payment would be (Principal, Interest, Taxes and Insurance) as well as give you an estimate of what you would need to bring to closing (always good to know) has now become a 3 page piece of paper that is given to the borrower, no signature required, in fact cannot not be signed. To show you how this document has changed HUD has provided a 29 page power point presentation to explain this new 3 page form  CLICK HERE TO SEE go down to RESPA  Plain English (go figure) and you can download this 29 page presentation that explains the new easy to understand 3 page Good Faith Estimate that replaces the old 1 page document.  Now once you have gone through this you now need to go to the New RESPA rule FAQ’s this is  51 pages and I understand the updated version is 80 plus pages in addition to the 29 page power point presentation to help find answers to the many unanswered questions that helps define the meanings and clarifications on how to complete this form. Here is an example of one of the FAQ’s; 9. Q: The definition of ―Origination service does not explicitly include all of the services provided by mortgage brokers in the definition of ―Settlement services. Are all ―Settlement services considered ―Origination services?
A: No, all ―Settlement services are not considered ―Origination services. However, all ―Origination services are ―Settlement services. This is just one example AND THIS is to help everyone more clearly understand the new easier to understand good faith estimate.  I have been to  several seminars in order to be able to answer any and all questions regarding the new good faith estimate.   I could very thoroughly go over the old good faith estimate and explain all the fees involved with your loan request in about 2 to 5 minutes depending on the questions you might have had. Unfortunately with the new 3 page form its going to take a bit longer and I feel still well not be as clear by the use of just this form.  It does not show anywhere on the form what your estimated total payment would be; it only shows you what your Principal, Interest and *Mortgage Insurance would be  *( if any) nowhere does it reflect what your Principal, Interest, Taxes and Insurance would be. Another equally if not confusing aspect of this form is, is that for purchasers it includes all the fees whether paid by seller or buyer and does not show who pays for what, giving the appearance that the borrower would need to bring all the costs to closing. Because of the confusion and unclear breakdown of the fees and the lack of a breakdown of who is to pay those fees, this new 3 page document has really created the need to create several new forms that can more adequately reflect what the estimated payment would be and to also show to the borrower what they could expect to bring to closing on a purchase. For those of you purchasing home both borrowers and Realtors make sure you talk with your mortgage professional to get a thorough explanation about the new Lending process. This is only a brief explanation on a few points about the NEW GFE there are also time lines that affect this form as well as what to do when there is a fundamental change to the loan request but also how changes to the GFE   in turn affects the Truth in Lending Document that has its own guidelines and disclosure time lines as well.

Please give me a call or an email to help further explain the new process

Andrew Hahn 303-331-8040 or ask your question via the comments section or Visit my Business website Capital Advantage LLC.

Welcome to the new world of mortgage finance Let me help with your mortgage refinancing in DENVER REFINANCE COMMERCE CITY REFINANCE COLORADO REFINANCE DENVER HOME PURCHASE

I specialize in Refinancing in Colorado

I’m Andrew Hahn the President of Capital Advantage Mortgage; I specialize in Refinancing in Commerce City Colorado as well as the entire State of Colorado

The Home Affordable Refinance Program (HARP) is designed to assist homeowners in refinancing their mortgages – even if they owe more than the home’s current value. This is a great program for those looking to refinance in Colorado, Commerce City,Denver and the front range, providing the lowest rates the market has to offer. Don’t wait rates are on the rise.
The primary expectation for Home Affordable Refinance is that refinancing will put responsible borrowers in a better position by reducing their monthly principal and interest payments or moving them from a more risky loan structure (such as interest-only or short-term ARM) to a more stable product (such as a fixed-rate mortgage). This program allows you to qualify for the lower rates and does not punish you for credit score as do other loan programs. One of the many benefits of this loan program is that if you do not currently have mortgage insurance you well not need to get mortgage insurance if you go over 80% LTV. DON’T Miss out on today’s low rates and don’t wait as rates are starting to go up. If you are considering a refinance now is the Time. In order to qualify for this loan it must be a Fannie Mae or Freddie Mac loan. Call me or email me and I’ll help you find out if you qualify for this program. When considering a refinance in Denver or anywhere in Colorado for a free mortgage analysis contact me Andrew Hahn for personalized and professional service. I’ll be able to go over all your options to obtaining the best mortgage program with the most competitive rates the market has to offer. Please CLICK HERE to get a current rate qoute or if you would prefer call me and we can discuss your loan Andrew Hahn 303-331-8040

Andy I am Licensed, Bonded and Insured in the State of Colorado. Although my primary Business in Colorado the information I provide can help all: My office is in Commerce City Colorado I’m a small independent mortgage broker, I specialize in refinancingin Colorado, this allows me to focus on the rules and guidelines that are specific to our State of Colorado.

Don’t think you can refinance because of property value?

Money RollYOU MIGHT BE SURPRISED:

                 I’m Andrew Hahn a Colorado mortgage broker located in Commerce City Colorado on the north edge of Denver who specializes in Denver refinance and Colorado refinancing.

                There is a bright spot in today’s market; there are a couple loan programs that could to help you.  First these programs are either Fannie Mae or Freddie Mac loan programs that are designed to replace an existing loan that is already owned by them.  Although I specialize in re-financing in Denver and in Colorado these programs are national and those who have a Fannie Mae or Freddie Mac loans can take advantage of them. So the first and most important bit of information you need to know is who owns your loan.  The company you make your loan payment to is a servicer not necessarily the entity that owns your loan. The easiest way to find out who owns your loan is to call me and I’ll help or call the servicer and ask them if your loan is owned by Fannie Mae or Freddie Mac, if your loan IS owned by one of these agencies your one step closer to being able to take advantage of today’s low rates.  If your loan isn’t then at this time there is no loan program that allows you to refinance at the Loan to Values that the programs I’m going to talk about do. These programs take into consideration the declines in property Value and let you refinance at up to 105% Loan to value. This means that if your loan is $262,500.00 and NOW, because of the declining market you property only appraises at $250,000.00 you can still refinance your loan at today’s rates.  There are interest rate adjustments but rates are still pretty darn good. The best way to figure out if this loan program can save you money is to email Andrew Hahn or give me a call and we can run some comparisons to see if this works for you.  This loan program can extremely helpful if you want to change from an ARM type loan or from an interest only loan and replace it with a new 30 fixed rate loan.  This program allows for up to 125% loan to value on the first mortgage. Even if you have a second mortgage you can still refinance with the condition the second mortgage subordinates to the new first mortgage. If you want help to see if you can qualify for these loan programs, contact me and I’ll help you. I’ll help you find out if your loan is eligible for this program and run loan comparisons to evaluate the benefit’s. If you would like you can CLICK HERE and go to my website Capital Advantagemortgage.com and fill out a secure loan application and I can start working on it right away. This is a great program don’t miss out. DENVER REFINANCE, COLORADO REFINANCE

Have a great day

Andrew Hahn

Your Denver Refinance and Colorado Refinance Expert.

Help with your Denver Refinance HELOC

BC 2004 002Hello and Happy Thanksgiving, i’m Andrew Hahn and I specialize in Denver Refinance as well as Colorado refinancing. I’m pretty darn good at your Mortgage purchases too. I have over 10 years experience and I am licensed and fully insured. This time of year it’s always tempting to use those credit cards for those holiday purchases and if you do, do yourself a favor and create a budget and stick with it. In those past years it was easier to to get that HELOC (Home Equity Line Of Credit) or a closed end Second Mortgage.These day’s it’s a bit more difficult to refinance because of the reduced property values, the elimination of many Second  Mortgage loan programs  and with tightened credit standards. I do have Second Mortgage loan programs available and depending on your loan to value and your current interest rate sometimes it still might make sense to consider refinancing your first mortgage. If you get a few extra minutes give me a call or drop me an email so we can take a look at your unique situation to see how we can improve your current mortgage.

When considering you Denver Refinance make sure to explore all your mortgage loan options to insure you get the best loan possible. Please visit my business website CapitalAdvantageMortgage.com get rates quotes, fill out a secure loan application or utilize my recommended professionals.

Have a great Thanksgiving Andrew Hahn

[contact-form 1 "Contact form 1"]