Mortgage and Refinance: A Guide for Beginners

Reading Time: 2 minutes

  A property whether it is a single-family or a multifamily home is a an investment for any real estate investor. One way to leverage it is by refinancing. Refinancing allows real estate investors to lower the rate and increase the returns or cash-out money from the appreciation of the property. This allows them to…

Mortgage and Refinance: A Guide for Beginners

 

A property whether it is a single-family or a multifamily home is a an investment for any real estate investor. One way to leverage it is by refinancing. Refinancing allows real estate investors to lower the rate and increase the returns or cash-out money from the appreciation of the property. This allows them to have more money to potentially buy more properties, make more money in the long term.

Should you use Fannie Mae and Freddie Mac?

 

Fannie Mae and Freddie Mac are both registered mortgage loan companies in the United States. They buy mortgages from banks, allowing them to keep on having money to lend out to different people.

 

Both are implementing the adverse market refinance fee. It is their way of saying that they need to make more money to be able to offset the probability of losses that are going to occur from people who will not be able to pay their mortgages. Also, it is, unfortunately, be implemented in all banks. These banks are going to have to pay 0.5% adverse market fees.

 

Every single bank and mortgage broker will have to determine if the amounts or fees are being passed on to the consumer. It’ll be really important if you’re looking to refinance, you should start working on it early because the timeline to refinance can anywhere be between 30 days to 60 days. You need to start working on it early, just in case anything happens, you can avoid having to pay any additional fees on something that you want to be able to do regardless.

 

Andrew Marquis of Guaranteed Rate can help you

 

We suggest Andrew Marquis of Guaranteed Rate. He is a wonderful mortgage broker that understands investors and owning of investment properties, he owns properties and he really understands both the numbers and can help guide you through the process to be able to make sure that you avoid the adverse market fee.

 

If you or anyone else you know is looking for a proactive property manager to help guide you through these types of things, to help you avoid fees, and be able to know the market and not just take care of your property, please think of Green Ocean Property Management, you get more than a property manager, you get peace of mind.

How Outsourcing Property Management Can Transform Your Investment Experience

How Outsourcing Property Management Can Transform Your Investment Experience

Posted in

Managing investment properties can quickly become a full-time job. From tenant screenings and maintenance issues to legal compliance and financial tracking, landlords take on a wide range of responsibilities. Self-managing rental properties lead to frequent headaches and unnecessary stress. Important tasks fall through the cracks, which puts your investment at risk.  Outsourcing to an experienced…

Male hand painting the wall

Can tenants paint the wall?

Posted in

  When moving in, one of the most common questions we get is, “Can tenants paint the wall?” As a property management company, this is what we personally do to protect you, the landlord.    Any planned painting must be requested   We put in all of our leases that if any type of painting…

Ensure Safety and Compliance With Two Means of Egress in Your Property

Ensure Safety and Compliance With Two Means of Egress in Your Property

Posted in

Safety, legality, and peace of mind are paramount when managing properties. In our monthly property inspections, we have encountered various situations highlighting the importance of proper means of egress and adherence to building codes. Today, we will discuss why having two means of egress is not just a legal requirement but a vital safety measure…

Experience exceptional management and elevate your property with us

NARPMGreater Boston Real Estate BoardCommunty Association InstitteEqual HousingBest Property Managers Boston

Stay updated with market trends and changes

Expert knowledge and advice to help make your life as a property owner easier.