No Seasoning refinance Myths
100% New Value with No Seasoning Refinance

Many times, what we know about securing a mortgage comes from what our trusted family and friends know. But this information can be outdated - or even completely wrong! There are seven common misconceptions consumers have regarding refinancing mortgages. From a person telling you no seasoning refinance can't be done, which in fact no seasoning refinance can be done up to 100% of the New Value on a no seasoning refinance:

#1
Everyone should refinance the minute rates drop by a 2% margin. If you plan on being in your home for a long time, then rates don't even have to drop by 2% in order for you to save money. Even if you just bought your home, no seasoning refinance may still be your answer.

#2
If you refinance, you'll save more money! Not necessarily. Refinancing is a great way to lower your monthly payments, but you're probably going to be stretching out your loan for a longer period of time ' thus owing more in the long run.

#3
Instead of refinancing, just double up on your current loan payments. While this is sometimes a smart move, it's not always accurate. Sometimes, your best bet is to do both - refinance if it's going to save you money, and send in extra on your loan whenever possible.

#4
Consolidating your debts with a refinance loan will make it easy on you ' one low monthly payment and a possible tax deduction! For many consumers, consolidating debt means they're freeing up credit to charge even more. Make sure you're ready to overhaul your lifestyle before you double, or even triple your debt load. Refinance is great idea, even if you have to do 100% refinance. 100% no seasoning refinance can still save you money, just be careful after you refinance with all your cards you paid off.

#5
Refinancing with some extra spending money is a good way to splurge. A family vacation to Hawaii may be very tempting, but don't put your home on the line if you're not sure you can afford the extra borrowed cash.

#6
Folding in closing costs is great for a refinance loan. Many lenders offer this as a way to get you to stop shopping around. Keep in mind that folding in closing costs means you'll be paying interest on these fees for the length of your loan! Remember, everyone is different and we look at each refinance on a case by case.

#7
No seasoning refinance can be done with almost any type of client from bad credit, 580 credit and above. Stated income or full doc. Stated income we are looking for a 620 Fico or above and full doc loans down to 580 Fico.

Refinance as well as other financial area's have there myths, from people saying they can refinance because they dont have seasoning on there loan. In truth, you can do a no seasoning refinance as well as all the other options that alot of people would say can't be done. We have worked with many different people that had been turned down because of bad credit, the myth is only that people didn't know how to work out the loans for them. We specialize in no seasoning refinance, no seasoning refinance for people that have bad credit, so yes we know how to refinance the hard or different loan.