With interest rates on mortgages at a 50-year low, there are many reasons why you should take advantage of the experience of BAR Financial Network. If you:

1.      ARE A FIRST TIME HOME BUYER

2.      ARE LOOKING TO REDUCE OR CONSOLIDATE DEBT

3.      TRYING TO REDUCE YOUR MONTHLY MORTGAGE PAYMENT

4.      TIRED OF HAVING TWO MORTGAGES

5.      HAVE EQUITY IN YOUR HOUSE THAT YOU WOULD LIKE TO UTILIZE

Then let us help you, whether it's your first house or your fourth, we can help you with your mortgage and refinancing needs.  Allow us to guide you in the best means of using the equity in your home to reduce your high interest debt through refinancing.

There are all types of loan options: VA, FHA, Conventional, Home Equity, Full documentation, Stated Income, Low or No documentation, 100% LTV, Foreign National Programs, irrespective of your needs give us a chance to help.

Whether you are a first time home buyer or are looking for a new home that better fits your current circumstances, we have the experience to help you find the right mortgage. There are a variety of mortgage programs available including governments and VA backed loans; interest only options; 100% financing available; flexible repayment options; choice of fixed and variable rates or an individually tailored package to suit your needs. We can often get you pre-approved for the mortgage and make the process less stressful for you and the seller. Before you start your house hunting adventure, contact us and we can help you set your budget.

Building a nest egg via the equity in your home can make it possible to gain access to the kind of capital you'll need to support yourself in your later years, pay for your children's education or start a new business.

The national average for how long people live in their homes is approximately seven to nine years. Reasons for leaving a home can vary widely, but if you purchase a home and decide to move after only a short time, you may end up paying money in order to sell it. Generally, the shorter time you're in your home, the less time your home has to appreciate in value—perhaps not enough to recover what it cost to buy and sell the home. The amount of time it takes to recover those costs can depend on various economic factors. In most parts of the country, homes appreciate at an average of five percent per year. If this is the case in the area you are looking to buy a home in, you should stay in your home at least three to four years to recover buying and selling costs. If the area where you buy your home experiences an economic upturn, it may take less time to recover those costs. Conversely, if the local economy is not doing well, it may take longer. The amount of time you plan on living in your home will have an impact on what home loan you choose. If you plan on staying there for more than ten years, a long-term fixed-rate mortgage might be a sensible choice. But if you know you're going to move within three to five years, an adjustable rate mortgage (ARM), with its lower payment options, might be a better choice.

2. Can the home meet your future needs?

It's important to find a home and a home loan that satisfy your needs in the present, as well as in the future. Do you plan to have kids in the next few years? Do you plan on starting a business out of your home? Be sure that the home has what you'll need now, and in the years to come, so that you don't outgrow the home and have to leave it prematurely.

3. What does your financial picture look like?

It's possible to find a lender for almost any financial situation. However, if your past financial history is good, you will have better home loan options to choose from. Generally, a couple of late payments on a credit report won't affect you that much and you will be considered a good credit risk, qualifying for lower interest rates. If you have more issues on your credit report, lenders like Quicken Loans may still provide you with a home loan, but because you're more of a risk to the lender, you may have to pay a higher interest rate and fees.

Some people believe you should refrain from borrowing as much as you qualify so as not to stretch your financial boundaries. Others feel you should stretch to buy as much home as you can afford because with expected increases in your earning potential, a big payment today will seem like less of a payment in the future. Only you can make this decision. A popular guideline is to follow the "28/36" rule. This rule says that your monthly housing costs shouldn't exceed 28 percent of your monthly income, and your total debt payments shouldn't exceed 36 percent of your total monthly income. If your payments do not follow the 28/36 rule, don't worry. Lenders offer mortgages customized to each borrower's individual situation. Depending on your assets, credit history , job potential and other factors, lenders can work with ratios of 40-60% or higher. While we are not advocating that you should purchase a home utilizing the higher ratios, it's important for you to know there are other options available.

4. Where will the money come from?

Typically, home buyers will need money for the down payment and closing costs in order to close the loan. However, you don't always have to have a lot of money for a down payment, as long as you're a good financial risk to a lender. Several loan options today offer zero down and low down payment home loans. Even if your credit isn't stellar but you have managed to save 10-20% for a down payment, you will still have some very good mortgage options.

5. Have you considered the ongoing costs of home ownership?

Maintenance, improvements, taxes and insurance all add to the costs of owning a home. And if you buy a condominium or a town home, some communities require a monthly homeowner's association fee. If you're concerned about these types of additional costs, you should look for home loan options that minimize fees and lower your mortgage payment relative to other home loan options. Be sure to make your realtor and your lender aware of your concerns.

If you need your cash in a lump sum, a cash-out refinance or a home equity loan may be best. If you need access to your money at different times, such as when you're renovating, a home equity line of credit is a good choice. Deciding which home equity loan is best for you depends on two things:

a.       Do you want to receive your money in one lump sum?

b.      What do you need to use the money for?

1. Cash-Out Refinance

When you take a cash-out refinance, it means you're refinancing your existing loan to a larger amount than what you owe and taking the difference in cash. You receive your money in a lump sum and you might use the cash for home improvements or debt consolidation. If the mortgage interest rate on your existing home loan is higher than current rates, it may make sense to refinance this way.

2. Home Equity Loan

If you have a great mortgage interest rate and don't want to refinance your existing mortgage, a home equity loan might be the way to go. A home equity loan is a second loan that you take out in addition to your first mortgage. It allows you to get cash from your home equity. A home equity loan takes less time than refinancing your first mortgage and is a good choice if you'd like your cash in a lump sum. Again, you might use this for home improvements or paying off high-interest credit card debt. You might also use it to pay medical bills or finance a second home.

3. Home Equity Line of Credit

A home equity line of credit (HELOC) is different from the first two options. It works similar to a checking account or credit card except that it uses the equity in your home as the revolving line of credit. You pay only if and when you use the money. But, unlike credit cards, the interest is usually tax-deductible. With a home equity line of credit, you have the choice of getting a lump sum at closing or only part of your money and drawing on the rest when you need it. Unlike a home equity loan or a refinance, you can get a home equity line of credit in as little as ten days. A home equity line of credit can be a good choice if you need to access your money more than once, like when you're renovating your house and need to pay different contractors at separate times.

The value of your home has increased but how do you turn this into an opportunity - an opportunity to improve your home, invest in another house, buy a holiday home, or even clear outstanding expensive short term debts (e.g. credit cards) that are draining your resources each month.  By refinancing your current mortgage you can consolidate all your current debts at a lower interest rate and maybe raise extra finance at the same time to put your plans into action. You may also want to consider refinancing if you currently have a second mortgage and would like to roll the two together at a favorably low interest rate.

Commercial Mortgage solutions are available for different commercial property types that include Office, Industrial, Retail, Multifamily, Student Housing, Hospitality, Healthcare and many more.

We love to serve our customers, hence we provide them with different kinds of financial services; we will streamline the financing process by gathering information and coordinating with other parties and relationships to keep our customers focused on their businesses rather than on loan applications. We often get involved in the project early to help our customers determine their needs, find or construct the right facility, and work with other parties to reduce customers’ costs ensuring a hassle-free process.

The varied line of Commercial Mortgage financial solution in our portfolio includes but is not limited to the following:-

              I.      Acquisition of a wide range of properties

            II.      Expansion and refurbishment of existing premises

          III.      Refinancing existing loans at a more competitive rate

         IV.     Interim / Bridge Loans

           V.     Construction Loans

         VI.      Equity Capital

       VII.       Healthcare Loans