One of the best reasons to refinance is to lower the interest rate on your existing loan. Historically, the rule of thumb is that refinancing is a good idea if you can reduce your interest rate by at least 2%. However, in many situations a 1% savings is enough of an incentive to refinance.
Reducing your interest rate not only helps you save money, but it also increases the rate at which you build equity in your home, and it can decrease the size of your monthly payment.For example, a 30-year fixed-rate mortgage with an interest rate of 7% on a $100,000 home has a principal and interest payment of $665.30.
Reducing your interest rate not only helps you save money, but it also increases the rate at which you build equity in your home, and it can decrease the size of your monthly payment.For example, a 30-year fixed-rate mortgage with an interest rate of 7% on a $100,000 home has a principal and interest payment of $665.30.
Services
Our staff of mortgage professionals bring a combination of many years of experience to your mortgage loan! At Primemax Mortgage Group, we take a "team" approach and work together to ensure the best service possible. It is not unusual to find our team working on your loan after hours, or on the weekend!
This is the first and easiest step you can take to home ownership. All you need to do is provide us with a few details about your employment, assets, and residence history. We will then determine which program is best suited for you and the maximum amount for which you qualify. A couple of factors determine this amount.
Before you begin to shop for a new home, you should set up a time to meet with me so we can figure out how much you can afford. This will put you in a better position as a buyer. That's when it is important to understand the distinction between being pre-qualified for a loan and pre-approved for a loan.
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations.
Lenders use a ratio called "debt to income" to decide the most you can pay monthly after your other recurring debts have been paid. For the most part, conventional loans require a qualifying ratio of 28/36. An FHA loan will usually allow for a higher debt load, reflected in a higher (29/41) ratio. The first number is how much (by percent) of your gross monthly income that can go toward housing costs.
Reviews (11)
Nuu Matautia
Jan 03, 2022
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Thank you for helping us get into our new home . Dani and Regina, y’all did and awesome job !. I know the process from the beginning was too much but y’all handle it good and keep fighting and finding ways to get us into our home. If you are reading this and is looking for a mortgage company , PRIMEMAX MORTGAGE will be the place . Thank you again with working with me and husband getting our home .
Jameson Jenkins
Oct 24, 2021
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Valerie Rimpsey
Oct 06, 2021
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Heaven must be missing an angel because she’s here on earth and her name is Regina.
I don’t have the words to explain how awesome my experience has been with her. She was patient with me throughout the process and got me an awesome interest rate. Regina was always available even on the weekends! She’s a wonderful lady and the only bad thing I can say about her is that she’s a workaholic. Lol 😆
I just moved into my new home today and I can’t stop smiling.
Thanks for everything Regina! My experience with you has been priceless! 😊💯
I don’t have the words to explain how awesome my experience has been with her. She was patient with me throughout the process and got me an awesome interest rate. Regina was always available even on the weekends! She’s a wonderful lady and the only bad thing I can say about her is that she’s a workaholic. Lol 😆
I just moved into my new home today and I can’t stop smiling.
Thanks for everything Regina! My experience with you has been priceless! 😊💯
Linda Calloway
Sep 29, 2021
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Regina/Primemax Mortgage is ABSOLUTELY the BEST!!!! If another source tells you no or it's impossible..... If there's anyway at all Regina and her Staff will "GET ER DONE"!!! We have been dealing with Primemax Mortgage for 10 years with different properties... She has ALWAYS been there for any questions or concerns.. We TRUST her Completely to take care of any needs we might have!!! Another PLUS is Location, right here in Rainbow City!! NEVER DISAPPOINTED 🌞🌞🌞
Vivian Taniohwo
Sep 09, 2021
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Mrs victoria crypto my best ever recommendation. Never imagined getting so much profits within a short period of time , it happened surprisingly I got it , this is huge for me and super happy and excited for this win , it’s a great start for me in line of trade, you been a genius trader Mrs victoria crypto .you finally put a smile on my face , despite telling you my problems you didn’t take advantage of me , thanks a lot Mrs victoria crypto You can reach her Via WhatsApp:+13153028202 Email: victoriacrypto062@gmail.com.
Pam Bradley
Apr 25, 2021
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Kendall Batista
Nov 17, 2020
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Sheryl Branning
Oct 12, 2020
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I also wanted to share our experience with our refinance. Regina and staff were absolutely amazing. We have purchased and financed many houses and truly enjoyed working with them. My husband is retired military and sometimes VA loans can really be a pain. Working with them was so easy and they went above and beyond to make this a smooth process... We highly recommend Primemax for all financing needs
Greg Clough
Oct 01, 2020
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Freitty Garcia
Oct 27, 2019
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Julie and Regina helped us a lot with making our dreams come true. They are with you at every step. Always answering emails, texts and phone calls immediately. They guided us through the entire process. Being able to meet with them is amazing as these days everything is done “on line” and they give you that confidence and peace of mind that you are looking for. Simply put, they make things happen!! Freitty Garcia
Richard Bullock
Oct 11, 2019
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Primemax is very customer service oriented an differently go the extra mile to take care of their customers. My hubby an I were looking to buy a house an we’re told that they wud help us with getting a mortgage. Primemax helped us an took a lot of stress of us. Regina Rickles is the best at what she does an it shows. So from the bottom of our hearts we want to thank Primemax Mortgage for everything they done to help us in getting our house .
