Rate-and-Term Refi or Cash-Out Refi – How Do You Choose?

What’s the distinction between Rate-and-Term refinancing and Cash-Out refis?  Owner-Occupied vs. Non-Owner-Occupied loans?  What’s considered high-risk and how does that affect rates?  Jeff and his guests sort out some of the most intimidating factors facing loan seekers in this constantly changing market.  There is a loan for everyone, whether QM or Non-QM, and it just takes the proper agent and a little detective work to match the right program to each prospective homebuyer.  These loan officers are often unsung heroes who have a wealth of knowledge to help clients navigate all of the overwhelming and confusing requirements to get through the qualifying process as quickly as possible.  Their expertise is vital, especially in situations where multiple buyers are interested in the same property.  Jeff's guests this week:  


- Charles Giscombe of Malibu Funding comments on the fluctuation in rates, which are fortunately still low.


- George Gonzales, also from Malibu Funding, provides tips on formulating a quality offer and financing.  


- Patrick Washington of Luxury Mortgage talks about smoking-hot rates on non-QM loans.