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Brad Lynch
RMLO NMLS 206799
c: (469) 450-2723
o: (972) 537-0665
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700 State Highway 121 Bypass, Suite 150
Lewisville, TX 75067
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Refinance Guide

When is it best to refinance?

Thinking about refinancing your home? Below are important factors to consider when making your decision. If you have any questions concerning the home loan process, please contact your Premier Home Mortgage Loan Expert who is on standby ready to assist you with your home mortgage needs.

Download the Refinancing Guide Refinancing your existing mortgage offers many benefits. When you choose to refinance your mortgage you are replacing you existing mortgage with a new one - with new terms, conditions and closing costs. A clear understanding of the refinancing process will help you evaluate whether or not it may be a good idea for you. One of our experienced Loan officers can assist you in determining if a refinance is right for you.

Step 1: Is it time to refinance? If mortgage prices are falling or your home has appreciated in market value, you may consider refinancing your mortgage. Generally speaking, one or more of the following conditions needs to be present before you should consider refinancing your mortgage: Falling Mortgage Interest Rates-

  • Mortgage interest rates are falling.
  • Your home has significantly appreciated in market value
  • You’ve been making payments on your original 30-year mortgage for less than 10 years.

In a falling mortgage interest rate environment, refinancing can offer homeowners two potential benefits that can help reduce your total borrowing costs over time: Rising Home Prices -

  • Lower your monthly payment while maintaining the same or similar repayment term as your original mortgage.
  • Shorten your repayment term while maintaining the same or similar payments to your original mortgage.

If your home has experienced a dramatic increase in market value, refinancing can help you take advantage of the increased equity in your home. For example, refinancing may help you in paying off a high level of consumer debt.

The Early Years of Your Mortgage - Refinancing usually makes the most sense in the early years of your mortgage, when payments are primarily going toward interest. In the later years of your mortgage - as you begin to pay more principal than interest - you may be better off keeping your original loan. Remember, refinancing will give you a brand new mortgage to pay off and will take you back to the beginning of the cycle in which you are paying mostly interest.

Step 2: Assessing Your Needs When refinancing your mortgage, you may have the opportunity to take “cash out” of your home equity. To receive a one-time cash payment during the refinancing process, you’ll need to get a loan for more than you owe on your principal mortgage balance. Remember that with a cash-out refinancing, you are also increasing your overall level of mortgage debt. Cash-out refinancing is often used to consolidate high-interest, nondeductible debt. It has the potential to reduce your overall monthly payments because: In addition, you could use cash-out refinancing for nonrecurring expenses - such as purchasing a car, paying for a wedding or financing an education - that might otherwise require you to borrow funds at a higher nondeductible interest rate.

  • Your mortgage interest rate is likely to be lower than credit card rates or other types of bank loans
  • Your mortgage interest may be tax-deductible, while your credit card interest is not

Consider Your Options - If your home is an important part of your total net worth, consider all your options carefully before taking cash out of its equity. Consolidating debt and then taking on new consumer debt will simply increase your overall liabilities, while potentially giving you a false sense of financial security. If you are considering cash-out refinancing to pay educational expenses, you can take advantage of state and federal education loan programs that also offer tax-deductible interest.

Step 3: Getting Organized Getting ready ahead of time will help the refinancing process move quickly and smoothly. Take the following steps before you begin. Review Your Credit History - It’s a good idea to understand your credit score and review your credit history at the beginning of the process. Remember: Even if you have less-than-perfect credit, you may still qualify for a mortgage. Gather Your Financial Records - Premier will require specific records to approve and process your loan. Here’s a look at the documentation that you will need to get started. Consider Your Loan Options - A general idea of the types of loans available will help you determine what loan suits you best. Your Premier Loan Officer or Account Executive can help you choose the right option.

Step 4: Contact Us Before refinancing your mortgage, speak to Premier Nationwide Lending Loan Officer. He or she can provide you with valuable advice about the refinancing process and help you consider all of your options. Your Loan Officer can help you find the perfect loan to fit your needs, explain mortgage rates and discount points and help you go over all of your financing options.

Step 5: Benefits For Premier Nationwide Lending Mortgage Customers As a valued Premier Nationwide Lending customer, you will experience the convenience you deserve with a mortgage lender you can trust. The Partner You Trust - By choosing Premier Nationwide Lending you will be working with a partner you can trust. We are committed to providing you with the highest standard of service throughout your loan process.

Step 6 - The Road to Closing At closing, your new mortgage documents are signed. Your Loan Officer will help you create a reasonable estimate of how long it will take to complete the whole refinancing process.

Lock In Your Interest Rate - At some point, before closing, you’ll need to select a loan type and lock in your interest rate. This will protect you from interest rate increases that may occur during the refinancing process.

The Closing Process - A team of dedicated experts work together at Premier to deliver great service and ensure that your refinancing is processed quickly, accurately, and efficiently.

  • A loan officer will review your information and request any additional documentation that may be required.
  • An order will be placed for a property appraisal, a survey of property boundaries, a flood determination, a title search and title insurance.
  • The underwriter will review all your information and grant a final approval on your loan.
  • Finally, the closing agent will assemble the closing package and ensure that all fees and other closing payments are accurately documented.
  • In most cases, the closing agent will establish an escrow account for payment of necessary insurance and real estate taxes.
  • As the final step, the closing agent authorizes the mortgage funds for disbursement. Typically, either your closing agent or your loan officer will contact you to schedule a date and time for the closing.

Residential Mortgage Loan Originators

Brad Lynch started as a loan officer in 2002 helping the families of Dallas and North Texas area find the right financing for their needs, whether purchase or refinance. After working during the times of subprime mortgage and seeing the industry begin to change, Brad began to consciously change the way he did business to keep up with the changes that were taking place within the industry. During the years of 2008 and 2009, Brad and his business partners converted from the traditional Broker style of business to the new “evolved broker” that is become the most popular platform of loan origination in the industry outside of local retail banks. After making a couple stops to gather experience in the new styles of mortgage origination during those years, Brad settled at Premier Nationwide Lending in 2010, and has called that home since.


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Testimonials

My wife and I wanted to drop you a quick note to say we sincerely appreciate everything you did to get us through the refinance of our home in Frisco. We love our home and love the neighborhood we live in. We now have one of the lowest interest rates in history on a 30 year loan which saves hundreds each month, thousands each year and well over $100,000 over the course of the loan!!! Can’t thank you enough. You were able to navigate us through the labyrinth of new requirements, documentation and get us locked in before rates started going up… and they did, just like you predicted. I know you went even further by taking care of additional aspects of the refinance process (such as the rider) which saved us even more money at the closing. That is something I have not seen before; to us it means you do care we get the best service and that is something we won’t forget. You obviously be our loan officer of choice from this point forward and who we recommend to all our friends and coworkers.

Doug & Sherry F.

Thank you so much for all your help in buying my first home. You were always there to answer all my questions no matter what time it was. I know that you had my best interests at hand at all times. I am so glad Tiffany referred me to you! I will continue to recommend you to everyone! You made the process so easy compared to what I have heard from others with other lenders. You were amazing!!!!! Thank you for making my dream come true!!!

Stephanie

When I closed on my loan my closing agent told me that though they deal with lots of divorces, they don’t see Owelty refinancing that often. My agent said they are a great tool to divide property, but lots of mortgage brokers don’t seem to know much about them….NOT BRAD. Thanks for the great service!

James

My wife and I recently purchased our first home, and being new to the game, needed some “hand-holding.” Brad was extremely knowledgeable and eager to help out it any way throughout the process. I especially appreciated Brad taking time to explain elements of the mortgage process in detail so that I was confident in the decisions I was making and aware of potential hiccups before they happened. I would confidently recommend Brad to anyone looking for a trusted adviser to help navigate the mortgage process.

Allan M.

Words cannot describe how grateful we are to you. Being able to complete our mortgage process and close out our loan in less than 30 days was a miracle! For the first 45 days of our mortgage process with a different lender was a nightmare to say the least, both Chad and I were constantly confused and left in the dark. Once we had to restart our process with you we felt like your only clients and you took time to answer all of our questions and lead us through the process, which is very important for first time home buyers like ourselves. We will refer as many people as possible to you, you were amazing. Thank you so much for helping get our family into our first home.

Chad, Tiffany, Liam, & Lilian H.

He’s very Professional, quick response to emails, and always on top of things. I highly recommend Brad. He’s a great guy and even better mortgage broker. Most importantly 1) He is always available (he always either answered my call or returned the call within “minutes”. 2) He over-discloses everything. I mention that because I talked to many other mortgage brokers before Brad, and they all withheld important information that Brad disclosed. He got me the BEST RATE and LOWEST FEES as I demanded. I assure anyone deciding whether or not to choose Brad should do so with my guarantee that he will deliver.

Ken

I want to let everyone know that Brad is a man of his word and works his butt off for you. I was recently divorced and I got the house in the divorce. I needed to refinance the mortgage, Home equity line of credit, and an Owelty lien. I live in Houston and I was trying to get all of the above mentioned into one refinance. Everyone I met with here in houston and others like Lending Tree said they could do this no problem. However they did not understand the the Texas laws regarding Owelty Leins. So after multiple attempts that failed to go through I found Brad on an internet search. Brad was the first person that made me feel comfortable and was the most knowledgable with Owelty. He was there for me with any questions/and concerns I had. He was also honest with me in every step of the process. It was a long frustrating process to complete my refinance but in the end due to Brad’s hard work it was completed. He is definately my mortgage guy for life now!!! Thanks Brad for everything!

Gerry B.

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