VA “No Cost” Refinance Special for Wells Fargo & Bank of America serviced loans
Branch Sales Manager
Mann Mortgage, LLC
“Team Mann Mortgage Kapolei” would like to offer our services to the men and women who have served or are serving the greatest country in the world, AMERICA.
My team and I would like to offer you a streamline refinance option that would save you money immediately without adding any cost to your existing mortgage balance. You would agree that the vast majority of VA home owners are subject to a VA funding fee which is added to your principal balance if you are not exempt. A traditional refinance would require you to pay closing cost and another funding fee if you are not exempt.
Here’s an example of how we can save you money without adding any charges.
Example of a No Cost Refinance
Current mortgage balance -$400,000 New principal mortgage -$400,000 VA funding Fee – ZERO 30 year fixed rate of 3.25% APR (annual percentage rate) of 3.261% Principal & interest payment -$1,740
Example of a Traditional Refinance
Current mortgage balance -$400,000 New principal mortgage excluding VA funding fee -$412,000 VA funding Fee – .50% ($2,060)
30 year fixed rate of 2.875% APR (annual percentage rate) of 3.117% Principal & interest payment $1,718
The difference between a no-cost refinance loan and a traditional refinance based on this example is $22 per month.
The difference in closing cost? A whopping $14,060.
The rate quoted (3.25%) is based on the following credit and occupancy criteria: Minimum credit score of 740 and owner occupied residence.
Here’s something for you to digest. A notorious rule of thumb for mortgage refinancing is to reduce your interest rate a minimum of 1%. Well, in some cases that could be true but with today’s VA mortgage rates at historic lows, you have no business paying any cost if I can offer you the quoted rate at NO COST to you.
If you have an interest rate of 3.75% or higher, I can help you save money for free. Yes Mr. & Mrs. Veteran, we will not charge you one red cent to refinance your mortgage with my team of VA professionals.
The process: Call me and I will take your application over the phone or we can meet in any convenient location.
The timeline: Unlike most companies, I will close your loan in 30 days if you provide the following from the time you submit a completed loan application: * Copy of note and mortgage * Maintenance fee coupon if applicable * Homeowners insurance information.
If I don’t close your loan in 30 days I will pay your first mortgage payment.
My team and I have collectively closed well over 300 VA transactions in the past two years. We look forward to the opportunity to serve you. Call me any time on my cellphone, (808) 389-0218. For loans in process, please contact Lovely Angel (808) 440-0933 lovely @mannhawaii .com or Laurelle Queypo (808) 440-0912 laurelle @mann hawaii .com.
– Aloha, Keoni Meyer