A Salute To Our Veterans!

Roger, copy, coming in!

The largest annual air show in The United States took place in San Diego over this last weekend, October 2nd-4th. Aircrafts were soaring high and low, audaciously performing for an estimated audience of 700,000 people!

A variety of different types aircrafts were exhibited as well as flown.

During the three-day event, the show’s daily performance agenda included military and civilian aircrafts, with the spotlight on the U.S. Navy Flight Demonstration Squadron, the Blue Angels, and a special Saturday night “Twilight” Show.

Since 1999, the Miramar Air Show has often featured a Navy Legacy Flight, where modern jets fly in formation with aircraft from previous eras in celebration of military veterans and naval aviation history.

That’s really what this whole event was about. Celebrating our veterans, the mean & women who sacrifice themselves for our Freedom.

Now that you’ve fought for our Freedom, we want to fight for yours. Your Financial Freedom.

At Global Equity Finance, we work with The U.S. Department of Veterans Affairs to ensure that when it comes to buying a home for our veterans and their family, they have the best possible option.

Our VA Loan Program has a multitude of never-ending benefits for our veterans. You can purchase a home with ZERO down payment, there’s NO monthly private mortgage insurance, you can take cash-out, and the list goes on and on.

These benefits are here to make purchasing a home easier and more accessible to those who have served our nation.

If you think you qualify for a VA Loan, you’re probably right.

Give Chris Logorz, one of our Veteran Senior Loan Consultants, a direct call (858)952-7795, to see what type of VA Loan we can get you started on.


Credit Catastrophe? FHA Loans can be an Option


Less than perfect credit score? 

blog post fha

Often times, individuals that have shot their credit have options that are few and far between. These people feel as if there’s no loan option available to them and wont even go as far as to even inquire. 

We can work with potential borrowers with credit as low as a 500 score. 

Even if you need to consolidate debt, pay student loans, or get started on home improvement projects, we can help you cash-out up to 85% of your home’s value!

Can’t afford the traditional 20% down payment? Easy, Peasy. FHA down payments are as low as 3.5%.

Most lenders won’t even look at you if you’ve had a recent bankruptcy, not at Global Equity Finance.

We can work with bankruptcies that are at least 2 years from discharge.

Foreclosure or Short Sales? Has it been 3 years? If, so we can work with this!

To Check out today’s updated rates on an FHA Loan, follow this Link: https://www.geqfinance.com/refinance.php

CALL NOW to get started on your FHA loan at (858)500-4638 or fill out an online contact form!


Cash Out and Win Big


Since we have been discussing when to refinance, we thought it might be helpful to talk about a cash out refinance and whether the consumer—you—should pursue a new home loan.

If you have done your research, you know that if you have a good amount of equity in your home it can be beneficial to you as a homeowner to do a cash out refinance because it allows you to turn that equity into cash money. If that sounds like something you’re interested in pursuing, read on.

So just what is a cash out refinance?

A cash out refinance involves taking out a new home loan that is higher than what you currently pay. The benefit of this is that whatever the difference is between the old loan and the new loan will be given to you in cash. So, say you have a home worth $400,000 that you currently owe $300,000 on.  If you decide to go with a cash out refinance, you could receive a portion of the $100,000 in home equity that you have in actual cash.  If you wanted to take out $20,000 in cash, that would then be added onto the principal of your new loan, so keep that in mind when deciding how much to take out.

When should I use a cash out refinance?

Cash out refinances are good for a number of situations. If you are in a bind with a large purchase or investment, interested in lowering your monthly debt payments, or other financing options are just too expensive then cash out is the perfect solution for you. There is no catch, you can use the cash for anything you’d like.

Interested in learning more about cash out refinances? Call us now at (858) 500-4638 or fill out an online contact form!


Am I Eligible for the HARP loan (Home Affordable Refinance Program)?

The HARP loan is known by many different names including the Obama Plan, Making Home Affordable, the  Obama Refi, DU Refi, and Relief Refinance. This plan was developed to help homeowners who owe more than their home’s current value. There are different regulations and guidelines depending upon whether you go through the federal government, Fannie Mae, Fannie Mac, or different mortgage lenders and insurers. With that being said, if one bank or lender turns you down for the HARP, continue to shop around as you still may be eligible. After all the overall goal of this program is to help homeowners improve their stability.

Requirements & Qualifications
So how do you know if you’re eligible for the HARP? First and foremost, your loan must be backed by Freddie Mac or Fannie Mae and your loan was closed on or before May 31, 2009. There are no exceptions to this rule. Second, you must have a good payment history for the past 12 months. That means having no late payments in the last 6 months and no more than one 30-day late payment from 6 to 12 months ago.  For more information, check out HARP’s website.

Now you know what you need in order to qualify for this program, but there are limitations within it once approved. You may only refinance using HARP once and only once. You cannot take cash out to consolidate debts or consolidate more than one mortgage. If you currently have Premium Mortgage Insurance on your loan, you are required to keep that on your new loan. However, you are not required to obtain insurance if you do not already have it. For more specific restrictions, read Dan Green’s FAQs at TheMortgageReports.com. (http://themortgagereports.com/259/harp-making-home-affordable-guidelines)

How to Apply
Applying is easy. Before you apply, you will need all the information about your existing loan, any second mortgages, and any other information regarding credit cards or personal loans. Just like any other loan, you may need to pay for some costs such as any processing and underwriting fees, appraisal (in some cases, there is no appraisal required), and title and escrow. These costs vary with each loan.

HARP will end on December 31, 2016 so if interested, contact us today so we can lock in a low rate!

Apply now.

Not sure if your loan is Fannie Mae or Freddie Mac? Look it up.
Click here for Fannie Mae or call 1-800-7FANNIE
Click here for Freddie Mac or call 1-800-FREDDIE