Michael Shotnik
Denver Refinance Specialist
Visit our website
Apply Online
mshotnik@summit-mortgage.com

Refinance with Confidence.

With all the market volatility and the downward trend in the stock market mortgage rates have been about the only bright spot. If the fed decides to cut short term rates which it sounds like they will then mortgage rates will increase. If you are considering refinancing out or an ARM or trying to capture a lower rate now is the time.

Visit our website to inquire about up to the minute rates.

Regardless of what the local and national media is saying we are still funding loans! My clients are still able to pull cash out of their homes and first time homebuyers are still able to purchase homes.

Type of refinances:

• Lower your monthly mortgage payments. If market rates are 1% better or could save you $100 per month it would be a good time to consider refinancing. The saving on a monthly basis will add up to significant savings over the life of the loan.
• Shorten your payoff. Many people believe in applying more than the minimum principal to each payment which is a good idea if you a good rate. If you are paying more than the minimum but your rate could be improved upon you are costing yourself years of interest payments. 15 year fixed rate mortgages have great rates which will lower the amount you pay to interest and allow you to pay your home off much faster.
• Obtain funds for a remodeling project or a major purchase.

-If you need to do repairs or remodeling around your house a home equity line of credit may be the way to go. Terms are flexible and the monthly payments are very reasonable.

-If the interest rate on your existing first mortgage is higher than current rates, it would make sense to refinance into a lower rate loan that allows for cash-out. You might be able to refinance your current loan for a larger amount than your current balance and use the excess funds for your project or purchase.

• Refinance quickly. The time it takes to close is based on just how organized you are. If you have all your documentation together the process can be completed in a week's time.

Advantage of our services:

We are a bank. We do not experience the volatility that the rest of the mortgage market experiences because we are lending our own money.

Our rates our better. As a bank we have more control of the process which allows us to pass down lower rates to our clients.

Our underwriters are not overwhelmed. In this economy many lenders have had to lay off employees by the hundreds putting a greater work load on each employee. We are a growing company and have quick underwriting times because our staff is not overwhelmed.

We care. We are a national bank but have local branches to service clients on a local level. We are accessible face to face and commonly go to loan closings. We are very involved in the local Denver economy and take pride in the work we do!

Michael Shotnik
Denver Refinance Specialist
Visit our website
Apply Online
mshotnik@summit-mortgage.com
303-800-4595