Jim Potts

Synergy One Lending

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Should I Consolidate My Debts with a Mortgage Refinance Loan?

September 13, 2023 by Jim Potts

Managing multiple debts can become overwhelming and burdensome. Juggling various loan payments with varying interest rates and repayment terms can lead to financial stress and missed opportunities. One solution that borrowers often consider is consolidating their debts through a mortgage refinance loan. While this approach can be beneficial for some, it's crucial to carefully evaluate its pros and cons before deciding.

Filed Under: Loan Tips Reno Tagged With: Debt Consolidation, Mortgage, Refinance

How the Purchase and Refinance Mortgage Process Works

May 4, 2023 by Jim Potts

Determine your budget: Before you start shopping for a home, you need to figure out how much you can afford to spend. You can do this by calculating your monthly income, expenses, and debt, and getting pre-approved for a mortgage.

Filed Under: Loan Tips Reno Tagged With: Budgeting, Mortgage, Refinance

Refinancing A Mortgage: How Does This Work?

October 21, 2022 by Jim Potts

If your financial situation has changed, you might be interested in refinancing your mortgage. In general, refinancing means that you will replace your current mortgage with a new one.

Filed Under: Loan Tips Reno Tagged With: Mortgage, Mortgage Payment, Refinance

Use A Fixer-Upper Mortgage To Expand Your Options

May 17, 2022 by Jim Potts

Regardless of whether they are brand new or resale homes, there simply are not enough affordable homes for first-time homebuyers. A significant number of new houses are built for people who are looking to purchase their second or third home. Furthermore, because there is a lot of demand for affordable entry-level houses, their prices have gone up. This makes it very difficult for first-time homebuyers to qualify for a mortgage for an entry-level home.

Filed Under: Mortgage Tagged With: Mortgage, Refinance, Renovation Loan

Refinancing: Check Your Financials First

May 4, 2022 by Jim Potts

You have probably heard that refinancing could help you save money on your home loan. Even though you are probably focused on current mortgage interest rates, feverishly comparing them to your own interest rate, you need to check your financials first. What are a few important indicators of your financial health that you need to check before you go through the refinancing process?

Filed Under: Mortgage Tagged With: Debt to Income, Mortgage, Refinance

Common Fees During Refinancing

April 14, 2022 by Jim Potts

As interest rates fluctuate, you might think about refinancing your mortgage. This is the cost of taking out a new home loan to replace the one you currently have.

Filed Under: Mortgage Tagged With: Fees, Mortgage, Refinance

Taxes And A Cash-Out Refinance: What To Know

April 13, 2022 by Jim Potts

If you decide to go through the refinancing process, there are several options available. One of the most popular options is a cash-out refinance. Essentially, you capitalize on the difference between current interest rates and the interest rate on your home loan to keep your payments the same while also drawing equity out of your home in the form of cash. You can use this money to fund your retirement, complete home repairs, or do a renovation project. Even though you can do just about anything you want with this cash, what do you need to know about a cash-out refinance and taxes?

Filed Under: Mortgage Tagged With: Cash Out, Mortgage, Refinance

How To Qualify for Refinancing a House

April 7, 2022 by Jim Potts

If you want to save money on your mortgage, now might be a great time to refinance. When you refinance your home loan, you replace the existing mortgage with a different one. You can refinance your home to withdraw cash, shorten the term of the loan, or reduce your interest rate. Not everyone can refinance the house, so take a look at a few key rules you need to follow to qualify for a refinance.

Filed Under: Mortgage Tagged With: Mortgage, Mortgage Interest Rate, Refinance

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Jim Potts

Jim Potts


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