Time & Location

Time & Date:
Every Tuesday from 7am until 8:31am

Clarion Hotel
815 Pottstown Pike, Exton, PA 19341
Click here for the map

Refinance your Mortgage with The Rate Kings!

Lonnie Cooper from The Rate Kings, discussed a new refinance option for homeowners. This new refinance option incurs NO closing costs which can be a huge benefit to the homeowner.

Rates as of Lonnie's presentation were around 3.5%. This means that a homeowner that purchased a home a few years ago at a rate of 4% and above could benefit from a refinance.

A refinance of a home can potentially save hundreds of dollars for the homeowner every month. Since the homeowner is essentially "re-buying" their home at the current rate, they will incur closing costs as part of the transaction. Lonnie discussed how he has access to a new refinance program that does not involve closing costs to the homeowner.

Here is a basic scenario that Lonnie described where a homeowner could refinance for a lower rate and incur no closing costs.

Let's say that a homeowner purchased a property just a few years ago for 4.25%. Current mortgage rates as of this presentation are at 3.5%. The savings of this transaction would potentially not offset the closing costs associated with the closing costs of the refinance.

This is where Lonnie's new program comes into play. Lonnie can offer the homeowner a lower rate of 3.75% and cover the closing costs. This means that the homeowner still saves 1/2 a percentage point and doesn't pay any closing costs.

In this scenario, the homeowner doesn't get the lowest current rate of 3.5% but does save a good amount of money every month by refinancing. They also save by not having any closing costs. In fact, this homeowner save 1/2% every single month just for signing their name!

In other scenarios that Lonnie discussed, it does make sense to use traditional refinance. Lonnie has mortgage options from most people. With direct access to the underwriters, even the most complicated situations can be handled quickly and painlessly.

Lonnie Cooper and the Rate Kings are experts in helping people purchase and refinance homes. For most of us, our home is our largest investment. Financing that investment should be trusted to Lonnie and the rest of the Rate King Staff.

Lonnie Cooper has been in the mortgage business for almost 20 years. He is licensed in Pennsylvania, Delaware, Florida, and Massachusetts. If you are purchasing a home, give Lonnie and the Rate Kings a call to get the best rates and best customer service around.

You can learn more about Lonnie and The Rate Kings at https://www.theratekings.com



Image by by freepik

Random Member!

Scott Darling - Realtor

Scott Darling - Realtor
Letip Member Since March 1996
RE/MAX Action Associates - Associate Broker
403 W. Lincoln Highway #101, Exton PA 19341
610-594-SCOT (7268)
Send Scott an email
View Scott Darling's profile on LinkedIn

Is a move in your future? You or someone you know may want, or need, to move. Think about it. There are some very key times in people’s lives where moving is essential. These are what I like to call Life Changing Events. To help you better understand, here are a few Life Changing Events that one may encounter.

Read more ...

Letip Creed

"LeTip is a professional organization of men and women dedicated to the highest standards of competence and service. Our purpose is the exchange of business Tips. Members will, at all times, maintain the highest professional integrity. Each business category is represented by one member and conflicts of interest are disallowed."