John Cornish Is the One to Go to When Looking for Home Refinance Options in the Quad Cities Area

Bettendorf, Iowa -

When looking for home refinancing options in the Quad Cities area, John Cornish is the one to go to. John Cornish - Mortgage Lender, which is based in Davenport, IA, has 18 years experience in helping people find home financing providers in the Quad Cities, which is composed of Rock Island, East Moline, and Moline in northern Illinois and Davenport and Bettendorf in southeastern Iowa. One important indicator of the value of the services provided by John Cornish is the large number of five star reviews John Cornish has received from customers. He has an overall rating of 5.0 out of 5 stars on Google after receiving more than 300 reviews.

John Cornish wants to point out that although he personally believes it is not the proper time for a home refinancing, it would do no harm to look into it. He says, “It might not be best for you to refinance, but it’s the best time to look into it to know for sure. Looking into the possibility of refinancing will cost you absolutely nothing. There’s no harm in looking and the worst case scenario would be to confirm that you’re in the best position possible with your present mortgage. So if you have any questions please feel free to reach out to me directly.”

Two of the possible refinance options are available through the US Dept. of Veterans Affairs (VA) but these are only for veterans, service members, and surviving spouses of military personnel. One alternative is the VA Interest Rate Reduction Refinance Loan (IRRRL), which is a favorite of veteran homeowners. This is because this option, which is also known as VA Streamlines, offers low rates and simplicity. It is so simple that in a number of cases, it might not require income verification, credit underwriting, or an appraisal. However, it is only available for those who already have a VA home financing. The other VA refinancing option is the VA Cash-Out. This option enables the homeowner to obtain a cash-out refinance that is supported by the VA.

The US Federal Housing Administration (FHA) also offers two refinancing options. One is the FHA Streamline Refinance can be used by those who already have home financing that is FHA-insured and are current in their monthly payments. With FHA Streamline Refinance, the homeowner can get their interest rate decreased quickly and often without the need for an appraisal. The needed paperwork will also be greatly reduced. The other FHA refinancing option is the FHA Cash-Out Refinance, which has several requirements. The homeowner should have a particular debt-to-income ratio, a minimum credit score of 580, completion of all monthly payments for the last 12 months, and a maximum loan-to-value of 80 percent of the current value of the home. This option enables the homeowner to receive some cash from the home equity that the homeowner can use for various purposes, such as debt consolidation, home improvement, college tuition, and more. It is important to note that this option is mostly beneficial when the property value has significantly increased.

John Cornish with his Key Mortgage Group has gained a lot of experience in helping more than 2,300 families get the financing they require when buying a new home during the past 10 years. He has developed the reputation of being a dependable real estate financing specialist in the Quad Cities. He has over 18 years of home financing experience, which allows him to provide the best possible service to home buyers, realtor partners, as well as the community. He always elucidates on the different aspects of the home financing options for each client. He will always do an in-depth analysis of his client’s goals in purchasing a home. For those who already own a home, he can provide advice on the various refinancing options that are available for them.

Those who are interested in the services offered by John Cornish - Mortgage Lender can check out their website or contact them on the phone or via email. Those who would like to get more info about John Cornish and his services can check out the latest news article about him.