Richard Balles at A-K Real Estate

Richard Balles runs A-K Financial Inc. at Germantown

Richard Balles in co-operation with A-K Real Estate

Richard Balles at AK Financial Inc. in cooperation with Samer Kuraishi of AK Real Estate in Germantown runs a mortgage finance company that specialize in helping client with their Home Financial needs. You could get a better options for your real estate and financial needs with help of Richard Balles and Samer Kuraishi at A-K real estate.  Richard Balles is the expert in Refinancing and home loans. Richard Balles has several tips for getting the lowest mortgage rate while avoiding paying too much in closing costs and fees.  You could get a better options for your real estate needs with help of Richard Balles and A-K real estate

Richard Balles at A-K Financial giving Advice on Refinancing

Mortgage Refinancing with your bank can be a fast and convenient way of lowering the monthly payments on your home loan; however, is your bank really the best place for avoiding hidden markup and junk fees? Here Mr. Richard Balles explaining how Mortgage Refinancing can save you thousands of dollars if you find the right person to arrange your next home loan; choosing the wrong person could cost you. Here are several tips by Richard Balles for getting the lowest mortgage rate while avoiding paying too much in closing costs and fees. Is Mortgage Refinancing With Your Bank a Good Idea? Richard Balles says, many of your neighbors choose bank mortgage refinancing because it’s a quick and easy avenue to a new home loan. What could be easier than automatically transferring your mortgage payment from your checking account each month? The problem with bank originated mortgage refinancing is what your banker isn’t telling you and isn’t obligated to tell you. You see, banks are exempt from the Real Estate Settlement Procedures Act that requires loan originator to disclose their profit margin and markup of your interest rate. The banking lobby spent millions of dollars lobbying congress in the early nineties to have this key bit of disclosure legislation changed to exclude banks, thereby giving them an unfair advantage. When it comes to your home why would you even consider working with a lender that doesn’t have to play by the rules? Bank Service Release Premium Richard Balles is going to take a moment to explain how your bank exploits this loophole in the Real Estate Settlement Procedures Act. Every mortgage lender out there, banks or wholesale lenders alike makes money by selling their loans to investors on the secondary market. The higher the interest rate on these loans, the more profit lenders make from investors. Wholesale mortgage lenders have a disadvantage next to banks because their customers know how much their mortgage rates were marked up to create this profit for the lender. Richard Balles says, not everyone understands it, but a savvy homeowner can save thousands by recognizing and avoiding this markup. Your bank isn’t required to disclose any of this mortgage refinancing markup. They know the home loan rates other lenders are offering their customers; however, they mark the bank mortgage rates up as much as they think their customers will pay to create this extra profit known as Service Release Premium for the bank. Because your bank isn’t required to disclose any of this markup you to you all you’ll get when mortgage refinancing with your bank is an Annual Percentage Rate based on a Good Faith Estimate filled with low-balled fees. Wholesale Mortgage Refinancing? As per Richard Balles It is possible to refinance your home loan with a wholesale mortgage rate and pay only a one percent origination fee in the process. Banks simply do not offer their customers wholesale mortgage rates because they don’t have to; however, Richard Balles at A-K Financial, we can help you find the right mortgage broker and you can get this kind of deal and save yourself as much as $1200 per year from unnecessary markup. Who is the right mortgage broker for mortgage refinancing with a wholesale rate? Look for an independent, self-employed broker. These brokers will be much more willing to negotiate the type of deal that gets you wholesale rates without points or junk fees.

Refinancing Advice from Richard Balles at A-K Real Estate

It has been said that you should never refinance your home loan unless your new mortgage rate is at least two percent lower than your old mortgage rate. Richard Balles says, this is horrible mortgage advice. Instead of buying into the two percent rule of mortgage refinancing it makes more sense to base your decision on a cost and savings rather than this urban legend of financial advice. This is of course if lowering your payment is your goal when refinancing your home. Richard Balles also says that, we all know that you loan amount and mortgage rate determine your monthly payment amount. This is done with a repayment process known as amortization. The lower your mortgage rate, the lower your monthly payments will be; however, there are refinancing costs you’ll need to consider also. I am of course referring to origination fees and closing costs. When answering the question Should I Refinance My Mortgage for you, it makes good financial sense to weigh the savings from your new, lower monthly payment against the cost of taking out the new home loan. Richard Balles as a financial adviser at A-K Financial can help you determine if this is a plausible venture. If you can live with the amount of time it will take to recoup your origination fee and closing costs than mortgage refinancing makes good sense for you. Richard Balles also take our attention that, there are of course other reasons for refinancing that don’t result in a lower monthly payment. Many homeowners use risky adjustable rate loans to purchase their homes and are facing huge payments or high interest payments when their teaser rates expire. Refinancing these risky home loans with a fixed 30 year home loan is nearly always going to be the right choice says Mr. Richard Balles. According to Richard Balles another common reason for refinancing is to borrow cash against your home equity which could also result in a higher monthly payment. Depending on your needs and wants, A-K Financial can assist you in acquiring your goals. Richard Balles here would ask you a question. Once you’ve answered the question Should I Refinance My Mortgage the question becomes how can I do this without getting ripped off? There are a number of unnecessary fees and markup of your mortgage rate for a double commission that Richard Balles at A-K Financial will help you avoid to make sure you get the most for your refinancing dollar.
Richard Balles at A-K Financial is dedicated to provide the best Financial services in Germantown. Our Mr. Richard Balles is the best Financial adviser in the area. Dealing with A-k Real Estate INC., means you are dealing with the most efficient Finance company in the area.