How you can eliminate your Monthly Mortgage immediately: (not all qualify)
House FMV=$800,000
Existing Balance $200,000 (30 year @6% is $1,199.10/month)
Refi at LTV 70% = $560,000
Income via mortgage note secured by 200% collateral value $560,000 x 15%
=$84,000/year
Mortgage $560,000 30Yr @6%=$3,357.48/mth x 12 = $40,289.76/year
You pocket $84,000-$40,289.76=$43,712.24/year
[For reference] $100,000 30 year term @6% is $599.55/month payment
If a person making $10,000/month his DTI @43%= $4,300/month
$4,300/599.55=7.17 $100,000/unit= max loan amount out is $717,000
Sign up to hear from us about specials, sales, and events.
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.