I can’t stress enough that it is a great time to refinance.

The Home Affordable Program helps those who have a Fannie Mae or Freddie Mac owned loan. This program will help those who owe more than their home well appraise for refinance at todays low rates. If your not sure if your loan is owned by Fannie Mae or Freddie Mac, it’s time to give me a call or CLICK HERE and I’ll help you.

This program actually helps a lot of people, even if you have a second mortgage you still could qualify, you need to check it out. If your current rate is at 6% or above you could potentially save a pretty good amount of money. The higher the loan amount the more you can save; the reason being that certain costs are fixed and on the lower loan amount the longer it is going to take to repay that cost vs. when your loan amount is greater than the savings is more that intern shortens the pay back time of the closing cost insuring value when you consider a refinance. The best way to calculate your savings is to get a Good Faith Estimate and find out what your monthly savings could be and what the time span would be to payoff the closing costs. CLICK HERE to obtain your free interest rate quote and free evaluation to determine if refinancing is right for you. Right now rates are remaining pretty low so nows still a good time to consider a refinance. Another factor to consider when refinancing is what is your time frame in which you plan on living in your property.  If you are considering at some point in turning your primary residence into a rental again something to consider is it is a great idea to refinance locking in a long term low rate; now with that though in mind when you refinance your primary residence your really cannot turn that property into a rental property for 12 months.  If you where to buy a new property they are going to want to cross reference information to determine this fact, so keep this in mind for future planning. Please leave any comments or questions you may have I’d be glad to address them. If your a Colorado residence and our considering a refinance please give me a call or email me I’d be glad to give you a free mortgage consultation to determine if refinancing makes sense for your situation. Andrew Hahn your Denver refinance professional; located in Commerce City Colorado serving Denver and the Metro area.

Andrew Hahn Mortgage professional for over 18 years, helping refinance in Denver and the Front Range; licensed in the State of Colorado.

Guidelines you need to know about for those who have Residential Investment Properties in Colorado.

For those who want to take advantage of today’s Real Estate Market and turn your current primary residence into a rental and take advantage of the $6,500.00 tax credit while purchasing a new home  DO YOU QUALIFY Housing Tax credit There are some interesting rules for existing home owners.  Mainly you need to have lived in your current residence for 5 years or more and if your married that needs to be the both of you.  One of the new guidelines that can be a determining factor is, is that for the example of converting your primary residence and buying a new home is you are going to need to qualify with both payments. The way the lenders are looking at rental property is that they need to be reported on your schedule E of your tax return in order to use rental income (or loss) and they are going to use actual figures off your tax returns and there is the chance they could ask for 2 years tax returns and the they are going to average the 2 years income from those properties to determine the income or loss from that calculations. The number of years tax returns needed well be determined when the loan is underwritten through the Fannie Mae’s or Freddie Mac’s automated underwriting programs. Also another change is that they are going to want to see 6 months reserves for each property you have financed; example if you have 2 properties and each has a $1,200. dollar payment which includes PITI then you are going to 2 x 12oo x 6 = your going to need assets of at least 14,400. now if one of the properties has an HOA fee of 150.00 you are going to need to ad that to the amount of reserves, so keep that in mind as well.  But it’s all worth it to be able to tale advantage of today’s low rates. If you would like to apply go to my business website Capital Advantage Mortgage to apply or to contact me to see if your eligible for the program.

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One area I haven’t seen much on is the refinancing of investment properties.

For everyone who has investment properties you need to know; The making home affordable program works for you too. Even if your underwater and your property value is less than what you owe you can still refinance up to 105% and in some cases up to 125%. Please visit my business website CapitalAdvantageMortgage.com or leave me Andrew Hahn a comment so we can determine what you qualify for. This is a great opportunity to take advantage of these low interest rates. I’m Andrew Hahn and My company is Capital Advantage LLC. a Mortgage Lending Company. I have over 18 years experience in the mortgage industry. When looking to Refinance your properties located in Denver and the front range Give me a call 303-331-8040 or you can go to my business website and fill out a secure loan application. This program for investment properties is very similar to the program for primary residences, although there are a bit more hoops to go through and the documentation is more cumbersome it well worth it in looking to lock up long term money at these interest rates on income property. A must look at for all those with rental properties.

From Andrew Hahn its free to ask and could save you 100’s call me

Denver refinancing expert Andrew Hahn helping people take advantage of the government programs that can help people save money and take advantage of today’s low rates.

Andrew Hahn here President of Capital Advantage LLC.a Colorado Mortgage Lending Company since 1991. 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

Down below by the hour glass is a blog I wrote back in October of 2009 Talking about the Adjustable Rate Mortgage discussing the philosophy of when to consider refinancing out of your current ARM loan And moving to a  fixed rate loan. I am Andrew Hahn and as  a Refinance Specialist located in Commerce City Licensed in the state of Colorado its time to up date that old post and point out that NOW is more than likely that time to make the move to the fixed rate loan. For those of you who have ARM loans you need to know your Index and your Margin; this is the information you need to be able to calculate what your interest rate is going to be. There are two main index’s that are used, either the LIBOR (could be 6 month or 1 year) or the 1 year treasuries CMT, It makes a big difference you need to know this information. If you don’t know you can search through your old closing documents or to make it easy on yourself and call your loan servicer and ask them for this information, OR you can always contact me Andrew Hahn and I’ll help you; you need to write it down and keep where you can check it from time to time, ALTHOUGH NOW IS THE TIME TO KNOW THIS INFORMATION. Ask them what your index is; ask them what the margin is (you add the margin plus the index to figure out what your interest rate well be) another important bit of information is ask them in what month do they calculate your interest rate. Generally its one month before your ARM is set to adjust. So if your loan is set to adjust in December they well use the index from November and your January payment would be the 1st month of your newly adjusted interest rate.  Although 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

Refinance Philosophy for those with ARM loans

In today’s chase for the best rate, for those who have a *conforming Adjustable Rate Mortgage or to be more specific a loan owned by Fannie Mae or Freddie Mac the chances are your ARMs interest rate has been going down and is lower than today’s fixed interest rate loans. If you want to get out of the uncertainty of an ARM and want a fixed rate loan have you a decision to make. More than likely to make the move to a fixed rate loan your rate is more than likely going to be higher and therefore your payment is going to go up. Now the challenging aspect is going to be timing. You want to take advantage of your lower rate as long as possible yet when you make the move to a fixed rate loan you want to lock in at the lowest rate you can. Timing the market is always a tough call and trying to guess when the 30 year fixed rates are going to reach their lows is even more difficult given the challenges in the markets today. Unless there is another sizable drop in the market we might have seen the all time lows and rates are starting the trend back up. Now could be the time to start watching the rates to try to catch them on a dip and get locked in, in the upper 4%’s to low 5% range, at this time 4.75% or lower doesn’t appear to be in the stars; unless you buy the rate down (not usually money well spent unless paid by some else). So what I recommend is that we start crunching the numbers now to determine a strategy and to be at the ready when rates get to your sweet spot. To sign up for my rate quote click here.

* Non conforming loans such as subprime loans or portfolio loans (some institutions keep their loans) are probably seeing their rates go up and are not eligible for loan programs created by Fannie Mae and Freddie Mac.

Don’t waste this opportunity to get in to that fixed rate loan; Contact Andrew Hahn your refinance expert located in Commerce City Licensed in Colorado Mortgage refinance in Denver and the entire State of Colorado.

CapitalAdvantageMortgage.com and for an interest rate quote Click Here

Home Affordable Refinance Program

I’m Andrew Hahn President of Capital Advantage Mortgage; I specialize in Refinancing in Colorado as well as Denver Refinancing and the entire Front Range.  I am Licensed, Bonded and Insured in the State of Colorado. Although my primary Business in Colorado the information I provide can help all.

The special program I talk about is designed to help those who owe more on their home than it is worth, ALSO those who have current loans on their homes that just want to take advantage of today’s low rates and have High Loan To Values (LTV). 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 fill out a secure online application or if you would prefer call me and we can discuss your loan Andrew Hahn 303-331-8040

Andrew Hahn has over 18 years in the mortgage industry specializing in Mortgage Refinance in Denver and the State of Colorado.

DENVER REFINANCE, COMMERCE CITY REFINANCE

It’s the day after Thanksgiving and today was a shortened session  in the market rates pretty much remained unchanged.  Credit standards starting to become more strict making it more difficult to purchase or refinance.

Fannie Mae plans to raise minimum credit score requirements next month and limit the amount of overall debt that borrowers can carry relative to their incomes, The Washington Post reported on Thursday.

Starting December 12, the automated system that the government-controlled mortgage finance company uses to approve loans will reject borrowers who have at least a 20 percent down payment but whose credit scores fall below 620 out of 850, the newspaper reported. Previously, the cut-off was 580.  COMMERCE CITY REFINANCE

They just keep making it more difficult. If your thinking about refinancing now is the time. Appy now CLICK HERE