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Home Buying Florida and Mortgage Loans

Purchasing a home is an important decision and a milestone in your life to achieve. Knowing the steps to take during this process can be overwhelming, as you are committing to a hefty financial commitment, so knowing where to begin and how to complete this journey makes all the difference.

Home buying can be stressful, but having a lender that you can trust makes your journey a lot easier and more enjoyable. Pacific Lending Group has been helping Florida residents for the last several years, and we make it a point to help guide you on your way to homeownership. Our trusted staff and many resources can easily help you on your way.

First-Time Home Buying

It can be overwhelming to understand all the mortgage options that are out there. Pacific Lending Group makes the pre-qualification process easy and stress-free, with no added cost to you. We have highly competitive rates and make the journey of home buying one that will result in a wonderfully happy ending. Choosing your first home can feel overwhelming and stressful.

Some factors come into play for each family searching the market. Size and price are two main components for choosing the home that will best suit your family. When buying your first home, features, floor plans, and location are also important things to think about. We help Southern Floridians get set up for success when buying the home of their dreams. There are tips and tricks to ensure that you find the home that is best for you. Pacific

Lending Group has professionals ready to get you on the right path and help carry some of the stress that comes with buying a new home. First-time buyers often rush into choosing a home, but taking your time and finding the right location, floorplan, and style is important. Taking a steady pace will ease your mind and give you time to acquire the home that best fits your family.

Let Pacific Lending Group help you with all of your lending and mortgage needs. Buying a home for the first time can be scary and seem daunting, but knowing the proper information to get on the right path will make all the difference. Explore your home mortgage options with us and get started on the path to homeownership. Call today at 954-227-4727

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How To Lower Your Mortgage Rate Without Refinancing

Mortgage interest rates have seen record lows for the better part of this year, thus encouraging a surge in mortgage refinancing. However, we must still acknowledge that not everyone wants to replace their current home loan. Borrowers often wonder whether there’s a possibility of lowering mortgage interest rates without necessarily refinancing. Yes, you can lower your mortgage interest rate without refinancing, although the options available may be very limited. If you are facing financial downtime, you may qualify for a mortgage rate reduction. But most times, you’ll either need to turn to a new route to cut your mortgage costs or work towards getting a refinance approval. Here, let’s review some steps that you could leverage to lower your mortgage rate without refinancing.

1. Simply Call and Request a Lower Mortgage Rate

This may not necessarily be a conventional step, but it has worked for many people. We’ve heard of several cases where folks obtain lower interest rates just by calling their mortgage lender and requesting one.

Of course, you’ll need to indicate during your call that you do not want to refinance with them; otherwise, they may take you towards that route. Perhaps, it won’t be as easy as you probably want, but sometimes it’s just a matter of being direct with your request if you want a lower mortgage interest rate.

2. Speak to an Expert To Help You Do a Rate Review

Another option that you could try is speaking to an expert about your chances. Most South Florida mortgage lenders would be ready to look at your situation and offer recommendations based on current trends. Here at Pacific Lending Group, we have experts that can walk you through the rate reduction process by conducting a rate review for you. You can leverage our lender review service to compare your interest rate to new customers’ rates. This service helps you to assess your likelihood of being eligible for lower mortgage rates.

3. Hire a Mortgage Broker to Help You Negotiate

If you would feel more comfortable leaving the negotiation to an expert, then do. Mortgage brokers would usually help to conduct a rate review and tell you your chances. They’ll also justify to your lender why you should get a lower rate. However, we recommend opting for a professional broker. The best way to know whether a mortgage broker can help you handle the job is by looking at their records. Check what past clients are saying about their services. Ask about their success rates and how they go about the process.

4. Look Into a Recast as An Alternative For Refinance

Loan recasts are not as popular as refinancing, but they can also lower the monthly payments on your mortgage. The only difference is that you’ll need to adjust the amortization schedule of your loan. One of the most significant benefits of choosing non-refinance options is that you won’t need to reset the clock on your mortgage.

Conclusion

That’s it, some practical steps to follow if you want to lower your mortgage rates without necessarily refinancing. It’s often not as difficult as you think, as long as you are willing to follow the right route. Contact the experts at Pacific Lending Group to learn more about the possibilities. Call 954-227-4727

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Don’t Slow Down Your Mortgage Loan Application Process

The real estate market is pretty complicated, and it requires plenty of effort and cash. If you want a dream house, you’ll need help from a trusted mortgage loan company, as the process of applying for and acquiring mortgage loans in South Florida can sometimes be overwhelming. With so many requirements and time constraints, you’ll need to know factors that could further slow down the process so that you can avoid them. Let’s dive into four factors and how you can avoid them when applying for a mortgage loan.

1. Lender’s Readiness

Before applying for a home mortgage, check the service time of the lender to be sure that they can handle your mortgage application in the timeframe you want.

2. Personal Circumstances

The process will flow if you are employed, have a good down payment, and do not have too many outgoings. On the other hand, if your situation is complex – for instance, you just got hired or have bad credit, the process will take longer. Clearly, more documents mean a slower process and more delay in the length of time that the offer would take.

3. Lacking Necessary Documents

Documentation plays a massive role in today’s mortgage world to fast-track your loan application process. Doing otherwise can make the process slower and longer.

Many South Florida mortgage underwriters are critical with documentation and would refuse to accept incomplete documents. Therefore, you are responsible for providing all the necessary documents if you want a faster mortgage application process.

4. Not Using a Mortgage Broker or Advisor

We can’t overemphasize this point. You need the right advice and recommendations on your way to getting a mortgage loan. Mortgage brokers will do everything to make the process faster. Brokers can also help you take the right steps of negotiating successfully.

Pacific Lending Group

A few factors to look at if you want to fast-track your mortgage application. The whole process of buying a home can already be overwhelming and exhausting. Pacific Lending Group can offer you all the advice you’ll need to get your mortgage application underway. Contact us today to learn more at 954-227-4727

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A Refinance Mortgage Can Affect Your Credit Score?

Refinancing may seem like a viable credit financing option in many circumstances. It involves replacing an existing loan with a new loan using the fresh mortgage to pay off the first one. Borrowers often choose loans with lower interest rates to refinance old loans. Also, a refinance mortgage allows borrowers the freedom to channel more savings into their savings account. Read more