We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. At Bankrate we strive to help you make smarter financial decisions. While we adhere to stricteditorial integrity, this post may contain references to products from our partners. Glassdoor has 226 JFQ Lending reviews submitted anonymously by JFQ Lending employees.

We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Ginnie Mae officials issued the notifications, building on work of a “loan churn task force” that started in September. But as long as the letter doesn’t include your mortgage account number, it’s probably just using public information about your loan to calculate the balance and the amount of funds you have available as home equity. JFQ Lendingis an extremely competitive company, and we do our best to be beat or match any pricing options that have been offered by otherlenders.

Homeowners with government-backed loans have an even simpler option. They may be able to use a Streamlined Refinance program, which offers faster approval and lenient requirements. Many homeowners refinance to lower their interest rate and monthly mortgage payments, which lowers the overall loan cost while leaving the home equity untouched.

Cash-out refinancing isn’t the only way to tap home equity, either. In today’s mortgage rate market, you might prefer a home equity loan or home equity line of credit . A lender can help you evaluate all these options and determine which one is best for your situation. The letter may list your name, address, and a numerical amount of “available funds.” These letters may even show your approximate account balance, which they use to estimate the amount of equity you could cash out. Some mortgage lenders try to solicit new refinance business by sending official-looking letters to homeowners. My husband and I are glad we selectedJFQLendingto get us the lowest rate for our refinance.

“This is a good option for any borrower who can lower their interest rate, even if they haven’t built up much equity in their home,” notes Moon. Home equity is normally calculated by subtracting what you owe on your home loan from the property’s fair market value. However, “The numbers you see on these letters are usually fake or teaser numbers meant to give you the impression there is a big pot of money waiting for you if you respond,” notes Ailion. “They generally list a potential amount of money — the ‘available funds’ listed — that you could get in a cash-out refinance. And they can be eye-opening, especially if your property’s value has appreciated and that available funds number is high,” he continues. If you found this information useful then please bookmark tsmodelschools.in and share this page.

Don’t just take our word for it – see what hundreds of others have to say about working with our elite team of experienced mortgage professionals. To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser statefarmcardoffers has received during the past 12 months. The consumer reviews posted on Bankrate.com (“Bankrate”) are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.