Get The Best Home Refinance Loan Michigan Mortgage Brokers Can Offer

Let your trusted resource for Michigan home loans do the loan shopping for you. – Bolt Lending. 

 
 
 
 

  • Variety of Loan Options

    Bolt Lending works with a variety of lenders to get you the access you need to find the perfect loan option for your Michigan home loan. The best part, you only have to meet with your own Michigan mortgage broker professional to get multiple quotes. You do not have to be inundated with calls, texts, and emails like you are with those online mortgage portals.

  • Commitment to Close

    While we can’t guarantee every loan that walks through our doors will close, we can promise we do our very best to find a way to close your loan. We go above and beyond for our clients in communication and customer service to ensure not only their confidence in their loan, but also to help make their goal of homeownership tangible.

  • Loans to Fit Your Budget

    Every application has its own unique circumstances, which is why you need a Michigan mortgage broker who will tailor a home loan package to your needs. The path to homeownership isn’t as straight of a path as one might assume. Bolt Lending provides the personalization you crave and the options you need.

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Michigan Home Loans for Michiganders from Michiganders

All of the professionals at Bolt Lending are proud to say that our home is and always has been Michigan. We are proud that our roots are here in The Great Lakes State, and that is why the well-being of our communities and neighbors are central to everything we do. Home loans and lenders are not necessarily one-size-fits-all. The truth is that different home loans are better for different home types and financial situations of the homebuyer. Michigan home buyers deserve mortgage brokers who understand your exact needs. You deserve a Michigan mortgage broker who will walk you through selecting the right home loan for you and not for their commissions. Contact us now to work with your neighborhood, Michigan home loan professional.

The Benefits of Home Refinance Options

If you’re a Michigan homeowner and you’re considering whether you should refinance your home loan, there are many potential benefits to consider. A mortgage refinance might reduce your mortgage rates from the rates on your previous home loan. Lower mortgage rates could potentially reduce your monthly mortgage payments and save you thousands in interest over the life of your home loan. Even if you aren’t able to get a significantly better mortgage rate than the one you currently have, you might be able to save money in other ways. Sometimes you can get rid of having to carry mortgage insurance (PMI), which can reduce overall household expenses for homeowners in Michigan. 

Refinancing your current home loan might also give you a chance to tap into valuable equity that you’ve amassed. Many homeowners have more equity than ever as home prices skyrocketed around Michigan. Refinancing home loans are one way of getting access to that equity to use for other investments, home renovations, or debt consolidation. Many homeowners use the equity they’ve accrued to use as a down payment for additional properties. You can refinance your current home loan to help you become a real estate investor in Michigan. Refinancing options are numerous when you work with the Michigan mortgage brokers at Bolt Lending. This means that you can rest assured that if there is a refinance option that is best for your current needs, we will find it. Contact us now if you would like to see what Michigan refinance options are best for you. 

Cash-Out Mortgages and Cash-Out Refinancing for Michigan Homeowners 

Michigan homeowners have enjoyed the real estate run that caused home prices to go through the roof. As home values have increased to record levels, so has the amount of equity homeowners currently have. Michigan homeowners have watched their equity swell, which is great for their asset sheets. However, equity is only a paper asset until it is turned to cash or another asset. Fortunately, there are ways of tapping into your equity to help build more assets or take care of other pressing needs that will improve your quality of life.  Today’s all-time high levels of equity present an opportunity for homeowners to take advantage of with a cash-out mortgage refinance. 

What is a cash-out refinance? Michigan homeowners will be excited to learn that a cash-out home loan refinance allows you to take out a new home loan for more than you currently owe. The difference between the home’s value and the amount of the loan is then given to the homeowner in cash. Homeowners are using the funds from cash-out refinances for a number of different worthwhile endeavors. Some are using their equity to pay debts. Some are using cash from a refinance to renovate and upgrade their homes rather than buying a new home. Others are choosing to buy brand new homes with the equity they’ve amassed. Cash-out home loans have become a great way for some Michigan homeowners to become real estate investors. For as many uses as there are for cash, these are only some of the reasons to consider a cash-out mortgage refinance. 

Cash-out refinance mortgage plans are not right for all homeowners. Michigan homeowners interested in finding out if a cash-out refinance is right for them should contact us. We can give you a complimentary refinancing qualifier to see what options are available for you. From there, we can look at your needs and what cash-out refinance options are available, and then you can make a decision on what is best for you. Contact us today to let the Michigan mortgage broker professionals at Bolt Lending walk you through the ins-and-outs of cash-out home loan refinancing. 

Refinancing FAQ for Michigan Homeowners

  • All lenders have different mortgage refinance products with different qualification requirements. The benefit of working with Bolt Lending is getting access to hundreds of lenders with thousands of refinancing and home loan options. If you have a FICO score of 620, then there are mortgage refinance products you can most likely qualify for right now, assuming you meet the other requirements. Keep in mind, the better your credit score, the more favorable your mortgage rate will be when you refinance. Most homeowners refinance in order to get a better mortgage rate, which can lower monthly mortgage payments and interest on the life of the loan. Improving your credit score will allow you to get the most out of your refinance.

  • Mortgage rates are officially set by each lender for their own home loan products, for new home purchases and refinances. Different home loans and mortgage products will have different mortgage rates at different lenders. However, mortgage rates tend to fall within a range that is based on a number of factors that change constantly. During the pandemic, mortgage rates reached all-time lows but are now rising. While mortgage rates are rising, they are still favorable for Michigan homebuyers compared to historic mortgage rate trends.

    Two things that will help you get the most favorable mortgage rate from your lender as possible are high credit scores and large amount of equity. High FICO scores will demonstrate a track record and likelihood of paying back your home loan. Having a large amount of equity demonstrates to lenders that you have a lot of skin in the game and do not want to risk losing your equity on your home loan. Michigan mortgage rates can change overnight, so contact us now if you would like to try and lock in favorable mortgage rates for a home loan refinance.