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Find out how much Refinancing with OpenGate may SAVE you?

It's your money – why pay more if you don't have to?

  1. If mortgage rates are at all time lows doesn't it make sense to explore refinancing options that may save you thousands a year in monthly payments; let alone tens of thousands in interest during the life of your loan? Let one of our consultants do all the hard work finding you a lower rate and monthly payment.
  2. Rates are so low right now you may decide to shorten the term on your mortgage. For example, going from a 30 year fixed rate to a 15 year fixed rate mortgage. Think about the savings in interest by shorting the term. It could be huge!
  3. What's there to lose? If we can't find you a lower rate or more monthly savings we let you know. With rates this low - it doesn't happen often. Exploring your refinance options doesn't jeopardize your existing mortgage in any way - so again why not find out if OpenGate Lending can save you money.
  4. The process is easy and can be done over the phone. Documentation can be sent via email & fax. Your life is already busy and full - your loan application shouldn't add any stress or burden to your life. Let us work hard for you. We want your loan to fund as quickly as possible so you can receive the savings fast. Who couldn't use more money in this economy?

Here are some of the most popular loans available to you when your deciding to refinance to lower your monthly mortgage obligation.

A. Federal Housing Administration (FHA) Loan

Learn how you may be able to refinance without having to go through an appraisal with a FHA Streamline loan. This mortgage product may give you the low fixed rate you need with the safety and security of knowing it's government insured.

This product is great for consumers who:

  1. Have a current FHA Loan and want to save money by getting a lower rate.
  2. Could use some easier qualification and credit standards in order to get approved.
  3. If you owe more on your home than what the market says it's worth. (for those upside down on their mortgage)
  4. Have less than 20% equity in their primary residence.
  5. Have less than 20% in cash to put down on a property they wish to purchase.
  6. Could use limited documentation requirements to qualify.

B. 30 Year Fixed Rate Loan

If your home is your castle and you know you're going to live in your house for years to come; this is a great product. This loan offers you a fixed rate that will never change so you can budget your finances accordingly for the next 30 years. Plus with no prepayment penalties - the more you pay monthly on your mortgage the more you save in interest on the loan. It's a win-win.

This product is great for consumers who:

  1. Need the flexibility to refinance up to 95% of your primary residence. (the home you live in)
  2. Could use benefit of only having to put down as little as 5% on buying a home. (must be your primary residence)
  3. Need financing from $25,000 to as high as $2 Million.

C. Adjustable Rate Mortgage (ARM)

An excellent loan for consumers that may require short term financing that gives them the maximum monthly savings. If you plan on selling your home, moving or refinancing your home within 5 - 7 years this may be your best option.

This product is great for consumers who:

  1. Need the flexibility to refinance up to 95% of your primary residence. (the home you live in)
  2. Could use benefit of only having to put down as little as 5% on buying a home. (must be your primary residence)
  3. May need the flexibility a 5 or 7 year ARM offers. FHA & VA ARMS may be available as well. So not only do you get the flexibility you need but the security a government insured loan provides.
  4. Understand rate adjustments are capped at 5% above your initial rate and 2% or 5% at each adjustment period. For example, your initial interest rate is 4.0%, your rate could never go higher than 9.0%, and could never rise more than 2% per year. So after year one in this example your rate could go from 4.0% to 6.0%.
  5. Can prepay their mortgage at any time without any prepayment penalties. The quicker you pay your loan the more money you save.

D. Veterans Affairs (VA) Loan

Whether it's past or present, this loan product proudly helps the brave men & women who defend our country. If you are a qualified veteran, a current military member, or the spouse of a military person let OpenGate Lending know right away. A VA loan could get you an excellent low rate with fast and easy approval.

This product is great for consumers who:

  1. Currently serve in our nation's military.
  2. Have served in our nation's military and a qualified veteran.
  3. The spouse of military member or surviving spouse of a fallen veteran.
  4. Need a fast approval process with minimal documentation.
  5. Could use refinancing up to 100% of the value of their home. (primary residence)
  6. Could use purchasing a home with no money down. (primary residence)

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