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What Do Rising Interest Rates Mean to Home Owners?

By | FHA Loans, Fixed Rate Loans, HARP Loans, Monster News, VA Loans | No Comments

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In recent months, the housing market has seen increases across the board. Fortunately for home owners, there has been a surge in home values throughout 2015. However, we have also seen a spike in interest rates in recent months, and with the Fed expected to hike rates as soon as September, the low rates we have seen over the past year could soon be a distant memory.

So how does this affect you, the homeowner?

If you are considering a refinance on hour home, these trends indicate that moving forward in the process now while rates are still low is your best option.  While we are yet to see drastic spikes in our interest rates, we have seen a noticeable increase. As a home owner, you may see the rate jump from 3.735% to 4.25% and not think much of it, however on a $200,000 loan not only is that a $70+ increase in payments, but also an issue that could affect loan and refinance approval.

At MonsterLoans, we want to help you kick-start your refinance and guarantee the lowest possible rate on your refinance. Simply put, with rates on the rise, now is the time to lock in your low rate!

About MonsterLoans

MonsterLoans is a privately-owned mortgage lender based out of Irvine, CA. Founded in 2003, MonsterLoans is the premier national mortgage lender specializing in VA, FHA, Harp, Fixed, ARM and Jumbo loans. With all services centralized under one roof, MonsterLoans is able to provide precise and specialized attention to every client, ensuring the best loan possible for each specific situation. At MonsterLoans, we depend on your loyalty and satisfaction, and our mission is to never let you down. For more information, please visit http://www.MonsterLoans.com 

Taking Advantage of Rising Home Values

By | Monster News, VA Loans | No Comments

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Slowly but surely, home values are on the rise in today’s market. Industry experts predict that trend will continue through 2015, with some expecting a 4-5% annual gain in home prices according to Forbes. If you are current home-owner, you are in a great position to take advantage of these rising values with a cash-out refinance.

In a situation where your home value has in fact gone up, you might be able to turn that equity into some immediate cash. The best part of cashing out? There are no restrictions on how you can spend the cash you pull from your home!

Looking to get rid of some high-interest credit cards or finally finish pay off your car? What about making some upgrades to your home and raising its value even more? Or you could just take the cash and go on a nice family vacation! You really have unlimited options and it all starts with a cash-out refinance!

If you believe your homes value has risen and could use some extra cash, contact our loan experts at MonsterLoans today!

About MonsterLoans

MonsterLoans is a privately-owned mortgage lender based out of Irvine, CA. Founded in 2003, MonsterLoans is the premier national mortgage lender specializing in VA, FHA, Harp, Fixed, ARM and Jumbo loans. With all services centralized under one roof, MonsterLoans is able to provide precise and specialized attention to every client, ensuring the best loan possible for each specific situation. At MonsterLoans, we depend on your loyalty and satisfaction, and our mission is to never let you down. For more information, please visit http://www.MonsterLoans.com

 

What Are the Benefits to Converting Your FHA Loan?

By | FHA Loans, Monster News, VA Loans | No Comments

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Could you use a couple hundred dollars extra per month to help pay your bills or pad your vacation fund? If the thought of refinancing has crossed your mind, there is an option out there that could save you money immediately. By converting your FHA Loan, you may be able to eliminate your month Mortgage Insurance (MI) premium, saving you hundreds of dollars monthly.

With home values on the rise, there is no better time to refinance with no MI payment included. For those who have attempted to refinance in the past, it is likely that you are in a better position to do so today due to your home likely having a higher value.

Another benefit of converting your FHA loan is that these mortgages often times can offer lower interest rates. Along with dropping your MI payment, this refinance could in fact save you money on the total amount due on your mortgage.

While converting from an loan does offer these great benefits, whether or not you should refinance in this manner should always be looked at on a case-by-case basis. Let our MonsterLoans experts help you find the best option for YOUR refinance today!

About MonsterLoans

MonsterLoans is a privately-owned mortgage lender based out of Irvine, CA. Founded in 2003, MonsterLoans is the premier national mortgage lender specializing in VA, FHA, Harp, Fixed, ARM and Jumbo loans. With all services centralized under one roof, MonsterLoans is able to provide precise and specialized attention to every client, ensuring the best loan possible for each specific situation. At MonsterLoans, we depend on your loyalty and satisfaction, and our mission is to never let you down. For more information, please visit http://www.MonsterLoans.com

 

 

The VA Streamline Program: Refinancing Made Easy

By | Monster News, VA Loans | No Comments

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In today’s economy, fluctuating credit scores and difficulty saving money can make a home refinance seem like nothing more than a pipedream. But in reality, if you are someone who is just getting by making your mortgage payments or trying to get your credit score back on track, you can still have an opportunity to refinance your loan at a lower rate.

How you ask? With the VA’s Streamline Refinance program! Also known as an Interest Rate Reduction Refinancing Loan (IRRRL), this loan can be done with zero out-of-pocket cost to you. Instead of paying up front, these costs are rolled into the new loan and a part of your monthly payment.

Another plus of a VA Streamline is that the VA does not require an appraisal or income verification. As long as you have made your last 6 payments on time you can be eligible for this loan program!

If you’re looking to save some money and lower your interest rate with little to no out-of-pocket costs, then let MonsterLoans help you today!

About MonsterLoans

MonsterLoans is a privately-owned mortgage lender based out of Irvine, CA. Founded in 2003, MonsterLoans is the premier national mortgage lender specializing in VA, FHA, Harp, Fixed, ARM and Jumbo loans. With all services centralized under one roof, MonsterLoans is able to provide precise and specialized attention to every client, ensuring the best loan possible for each specific situation. At MonsterLoans, we depend on your loyalty and satisfaction, and our mission is to never let you down. For more information, please visit http://www.MonsterLoans.com

 

How a Jumbo Loan Can Get Your Dream Home

By | Monster News, VA Loans | No Comments

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Are you finally ready to move into your dream home, but worried about taking out a mortgage with a high loan amount? With many potential home owners looking to purchase in today’s market, real estate prices are on the rise. One way to get the amount of money you need for your home, regardless of price, is to take out a Jumbo loan. Any  property with a loan that will be over $417,000 is eligible for a Jumbo loan. In some more expensive areas such as Hawaii and the U.S. Virgin Islands, that amount actually jumps to $625,500.

Taking out a Jumbo loan ensures you of a couple of advantages. First and foremost, you will be able to take out a larger loan without having to drain your savings to help pay for the property. Secondly, a Jumbo Loan allows potential homeowners to take out just one simple loan. In the past, homeowners might have had to take out two loans with different lenders to purchase a larger or more expensive property, but that is not the case with a Jumbo loan.

While taking out a Jumbo loan has become a popular option in today’s market, climbing interest rates for such loans indicate that now more than ever is the time to jump into a Jumbo loan. In March alone, the interest rate for a Jumbo loan climbed from 3.52% to 4.02%. While that rate may or may not continue to climb, if a potential homeowner is serious about purchasing with a Jumbo loan, there is no better time to do so than now!

What are you waiting for? Go get that dream home!

About MonsterLoans

MonsterLoans is a privately-owned mortgage lender based out of Irvine, CA. Founded in 2003, MonsterLoans is the premier national mortgage lender specializing in VA, FHA, Harp, Fixed, ARM and Jumbo loans. With all services centralized under one roof, MonsterLoans is able to provide precise and specialized attention to every client, ensuring the best loan possible for each specific situation. At MonsterLoans, we depend on your loyalty and satisfaction, and our mission is to never let you down. For more information, please visit http://www.MonsterLoans.com

H/T WSJ

Why Should You Cash-Out?

By | Cash-Out, Monster News, VA Loans | No Comments

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One of the fastest-growing refinancing methods in the country today is the Cash-Out refinance. By cashing-out, homeowners have the ability to benefit from the equity they’ve built through rising prices of homes. In fact, according to Freddie Mac, the amount of homeowners who have refinanced via a cash-out has more than doubled over the past year.

But not all options fit every homeowner, so why should you cash-out?

First and foremost, the most obvious reason – TO GET SOME CASH! Looking to make some upgrades to your property? Pay off credit card debt or a car loan? Or just looking for some cash to go on vacation with your family? The cash-out option can help you accomplish any of these goals. Imagine being able to refinance and then get the cash you need to upgrade your home and shoot the value through the roof?

There’s a reason the cash-out method has become so popular!

For VA members, the Cash-Out option allows you to refinance a non-VA loan into a VA loan, which the VA will guarantee for up to 100% value of your home. Because the VA guarantees at least a portion of your loan, private lenders such as banks and mortgage companies will provide you with more favorable terms.

Any homeowner considering a refinance on their home should definitely take a look at the Cash-Out option. For more information, contact MonsterLoans and one of our representatives will be more than happy to lay your options out for you.

About MonsterLoans

MonsterLoans is a privately-owned mortgage lender based out of Irvine, CA. Founded in 2003, MonsterLoans is the premier national mortgage lender specializing in VA, FHA, Harp, Fixed, ARM and Jumbo loans. With all services centralized under one roof, MonsterLoans is able to provide precise and specialized attention to every client, ensuring the best loan possible for each specific situation. At MonsterLoans, we depend on your loyalty and satisfaction, and our mission is to never let you down. For more information, please visit http://www.MonsterLoans.com

 

Taking Advantage of the Mortgage Insurance Reduction in Your FHA Loan!

By | FHA Loans, Monster News | No Comments

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What could you do with an extra couple hundred dollars in your pocket every month? You could afford a new car payment, or add some money to your vacation fund, or just have some extra spending cash! What if this hypothetical scenario was actually an incredibly easy process for homeowners with an FHA loan?

In an effort to make home financing a more affordable option for consumers, the Department of Housing and Urban Development (HUD) announced earlier this year that they would be reducing the monthly mortgage insurance (MI) premiums on all FHA loans. This is huge news for homeowners with an FHA loan who are looking for a quick way to save money every month!

The simple change of dropping MI premiums allows a homeowner with an FHA loan to potentially save a few hundred dollars a month right away. According to CNBC, FHA purchase applications have gone up over 18% over the past year despite a decrease in the same applications for the rest of the market. The numbers here tell the story as many homeowners in a FHA loan have already begun to move forward on a refinance that allows them to drop the MI in their payment.

If you are already in an FHA loan, do yourself a favor and take a look at refinancing and taking advantage of the MI reduction today!

About MonsterLoans

MonsterLoans is a privately-owned mortgage lender based out of Irvine, CA. Founded in 2003, MonsterLoans is the premier national mortgage lender specializing in VA, FHA, Harp, Fixed, ARM and Jumbo loans. With all services centralized under one roof, MonsterLoans is able to provide precise and specialized attention to every client, ensuring the best loan possible for each specific situation. At MonsterLoans, we depend on your loyalty and satisfaction, and our mission is to never let you down. For more information, please visit http://www.MonsterLoans.com

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Should you refinance?

By | Monster News | No Comments

More likely than not, you’ve probably heard plenty of great reasons for refinancing your home loan. And with rates as low as they’ve been in years, is now the time to refinance? Whether you are looking to lower your payment and shorten your term, or just need the cash, MonsterLoans has the solution that fits your needs.

But what reasons would make refinancing today the right call for you? If you are in need of cash for debt consolidation, improving your home or even just for your own personal use, refinancing today is a great option to have. With such low rates in today’s market, you have the opportunity to lower your rate and shorten your term, while also converting your adjustable rate to a fixed one.

Our loan experts take the time to help compare your current loan to today’s loan options and interest rates to see if refinancing now is the right move for you to make. Due to the fact that there are so many options in the market today, it’s important that you consult with the right experts to ensure you move forward properly in a manner tailored to your needs.

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Rates are at an all-time low

By | Monster News | No Comments

Lock in your low rate with MonsterLoans today. At the end of 2014, rates were among the lowest they had been all year long, under 4% in many scenarios. However indications from the Fed indicate that they will begin raising rates mid-year, so locking in a low rate now is increasingly important. With plenty of volatile and unpredictable scenarios heading into 2015, forecasts show that analysts expect the unexpected.

With the reality that anything can happen in the market in 2015, the time is now to lock in some of the lowest rates the market has seen in years. 12 months forecasts indicate that rates will comfortably move back over 4% in 2015. While it is nearly impossible to know how much rates will change in the new year, analysts almost unanimously agree that rates will at some point rise, encouraging home-owners to lock in rates today while they are still at all-time low levels.

Don’t wait to lock in a low rate with MonsterLoans today! MonsterLoans is a leader in the finance industry—we’re determined, strong, and approachable and the easiest partner you’ll work with during the lending process. Our numerous product offerings and exceptional, capable staff help us meet the needs of clients in a way that is unparalleled in this industry. Let MonsterLoans be your friendly guide through fearless finance!

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Meet MonsterLoans!

By | Monster News | No Comments

MonsterLoans is the premier national mortgage lender specializing in today’s home loans: VA, FHA, Harp, Fixed, ARM and Jumbo. By offering specialized attention to every client, we secure the best loan possible for any situation, regardless of how complex it may be. Best of all, our services are centralized under one roof, from process to underwriting to funding, which eliminates risk of miscommunication or delays. In short, MonsterLoans work sets us apart from the rest.

MonsterLoans is a leader in the finance industry – determined, strong and approachable, making us the easiest partner you’ll work with during the lending process. With a vast product offering and an exceptional, capable staff, MonsterLoans meets the needs of clients in a way that is unparalleled in this industry today.

Let MonsterLoans be your friendly guide.

Who We Are

MonsterLoans is all about being real. With numerous lenders available, we know it’s difficult to choose the right one to help you get through the loan process. That’s why we offer three iron-clad, money-back guarantees to ease your mind and take away the “what-ifs” of financing.

With over 45 cumulative years in the business, we at MonsterLoans know that the mortgage process can be frightening to many. We simplify the process, get your loan financed, and help you every step of the way. Trust in MonsterLoans, and find out what it’s like to be surrounded by our fearless force of financial allies!

Founded in 2003, MonsterLoans is a privately-owned Mortgage Lender based in Irvine, CA. The company offers conventional Fannie Mae, Freddie Mac and Ginnie Mae-insured government FHA and VA loan products.

Contact:
MonsterLoans
3 Whatney Ste. 200
Irvine, CA 92618
(866)439-7744

Media Inquiries:
Contact Alice Kim Cowell: alice@monsterloans.com

 

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