Regarding Real Estate LLC
If you’ve been paying off your home for a while, you may be interested in refinancing your mortgage. Mortgage refinancing gives homeowners the opportunity to tap into the equity they’ve built up and use it in a way to positively change loan conditions or invest back into the property itself.
When you replace your old home loan by paying it off with a new one, you refinance your mortgage. Benefits include switching insurance rates (Example: from an adjustable rate to a fixed rate), shorten the term of the loan or even decrease the loan interest rate.
In addition to home improvements, with cash out refinance, you can turn your built-up equity into cash.
Speaking with your mortgage lender, you can check how much equity you’ve built up on your home. This amount is made of the money you’ve paid back towards the balance of the property.
For example, if the value of your home is $400,000, and you owe $300,000, you would have $100,000 of equity.
Once you’re ready for a mortgage refinance, you’ll need to gather documents to apply. These documents include, but are not limited to:
Once all needed signatures and loan conditions are met, you’re given a cooling-off period of 3 days to retract your mortgage refinance request. In this case, you would just continue making your normal monthly payments on your original mortgage.
Refinancing your mortgage is a huge step, so consider taking your time to weigh out the pros and cons.
Johnna grew up in Amherst NH and still has strong ties to the Amherst & Mont Vernon Communities. Johnna moved to Manchester at 19 when she purchased her 1st home. She has resided in the West Side of Manchester since 2007. Always having a strong interest in real estate, Johnna and her husband, Jeff, started investing in rental properties in 2017 with the purchase of a 2 bedroom condo in Manchester. They now own 10 properties with the goal of growing to 60 total rental properties. In 2020 Johnna and Jeff started adding short term rentals to their portfolio focusing in the NH Lakes Region and Southern Maine Coast. Johnna achieved Airbnb Super Host and VRBO Premier Host status within the first year.
From May to October Johnna divides her time between Manchester, NH and her beach cottage in Wells Maine. Johnna’s extensive experience with both long term and short-term rental properties makes her the ideal real estate agent to help you start or build your real estate investment portfolio. Johnna works with a lot of home owners selling their homes and buying homes simultaneously and also sellers relocating out of the area.
Johnna prides herself in being hard working, dependable and down to earth. In her free time, she enjoys reading, jigsaw puzzles and spending time outdoors with her husband, dogs and friends.
