The Ark Mortgage Lifetime Guarantee
As part of our commitment to offer innovative programs that consistently and sincerely benefit our clients, Ark Mortgage is proud to institute the Lifetime Guarantee.
Our Lifetime Guarantee allows you to start saving money and have peace of mind knowing that you can shorten your term, tap into your equity or even take advantage of a lower rate for the lifetime of your loan.
Here’s how simple it is: if at any time, you need or want to refinance for any reason, we will reimburse the appraisal cost at closing, and waive underwriting and application fees. This can reduce your closing costs by as much as $2,500!
As a homeowner, you are no doubt aware that the most common reasons people refinance are:
- to lower interest rates and reduce monthly payments,
- reduce the length of the loan to become financially independent faster,
- or to use some of their growing equity to pay off high-interest debts, finance home improvements, or even use their equity to buy a second home.
The Ark Mortgage Lifetime Guarantee is not only effective on all new mortgage originations, but we’ve made the Lifetime Guarantee retroactive to all previously originated mortgages with us as well. We love making things as easy and straight forward as possible, so we’ve taken it upon ourselves to ensure that past borrowers are already enrolled. There is no paperwork to fill out and all our records have been updated. All you have to do is let us know that you’d like to save money, both now and over the course of your mortgage.
If you would like to take advantage of these benefits, please don’t hesitate to contact us and we will walk you through how we can get your hard-earned money back in your possession.
Why Refinance Your Home with Ark Mortgage?
ELIMINATE HIGH INTEREST REVOLVING DEBT
Choosing to refinance your home can dramatically improve your financial situation. Is your credit card debt interfering with your monthly cash flow? You may be able to pay it off, lower you overall monthly cash outlay, lower your tax burden, and improve your credit score by using your mortgage as an investment tool.
MAKE ROOM FOR A GROWING FAMILY
Put your equity to work and increase the value of your home. If you need to add or convert space in your home for additional bedrooms and bathrooms or just want to update your tired old kitchen, refinancing your current mortgage and taking cash out may be the way to go. At today’s historically low rates it may be easier than you imagined.
CREATE AN EMERGENCY CASH RESERVE FUND
Do you have enough cash in reserve to cover your family in the event of a financial emergency? You need a minimum of six months of living expenses to ensure that your life is not adversely affected in the event of a loss of income. Protect your home and family by using some of the equity in your home as an insurance policy.
SHORTEN YOUR TERM AND SAVE A BOATLOAD
Home loan rates vary based on the length of loan term. Did you know the monthly payment amount with a 30-year mortgage might be similar to the monthly payment amount you’d pay with a 20-25 year loan? That’s because the interest rates are usually lower on loans with terms of less than 30 years. Refinancing your home to eliminate years off your mortgage payment can save you tens of thousands of dollars.
RETIRE ON TIME — OR EVEN SOONER!
It takes a lot of money to save for retirement. How are you saving up? Your home’s equity is a great way to save for your future so that you can finally sit back and enjoy yourself without financial worry once you reach retirement age. Your home is typically the largest investment you’ll make during your lifetime and having the right mortgage can help ensure that you achieve your long-term life goals.
Ark Mortgage Lifetime Guarantee Disclaimer
Refinancing your mortgage from Ark Mortgage is conditional on the program type or investor guidelines “seasoning” restrictions (most seasoning restrictions require 7 consecutive payments be made since loan origination). Loan approval for any future refinancing is not guaranteed. You must fully qualify for the selected refinance and meet all of the requirements of the loan refinancing program and federal guidelines concerning your ability to repay. Additionally, the appraised value of your home for any future refinance is also not guaranteed. If an appraisal of the property is required to meet the conditions of your new loan, the value of the property must be acceptable for the program and loan terms requested. Moreover, the interest rate for all future refinance is not guaranteed. Borrower must qualify for the loan requested, and will be quoted the interest rates in effect at the time of the new refinance. As a result of refinancing, your total finance charges may be greater over the life of the loan. Ask your Ark Mortgage Personal Mortgage Advisor for more details.
* Lender origination fees include underwriting and application fees.
** All appraisal fees are credited at the closing of the new loan.