Mortgage Refinancing in Boca Raton, Florida - Lower Your Rate & Payment
As an experienced mortgage loan officer serving Boca Raton and Palm Beach County, I specialize in mortgage refinancing florida for local homebuyers. Whether you're considering homes in East Boca, West Boca, Mizner Park, or other Boca Raton neighborhoods, our loan programs are tailored to the local market.
Why Choose Mortgage refinancing in Boca Raton?
Boca Raton's real estate market in Palm Beach County offers unique opportunities for homebuyers. With a median home price of $$575,000, our mortgage refinancing florida programs help make homeownership accessible.
- Lower your interest rate and monthly payment - your interest rate and monthly payment
- Shorten your loan term to pay off faster - your loan term to pay off faster
- Switch from adjustable to fixed-rate mortgage - from adjustable to fixed-rate mortgage
- Remove PMI when you reach 20% equity - PMI when you reach 20% equity
- Access home equity for renovations or debt consolidation - home equity for renovations or debt consolidation
- Streamline options for FHA and VA loans - options for FHA and VA loans
Mortgage refinancing Requirements in Boca Raton
Understanding eligibility requirements helps Boca Raton homebuyers prepare for success. Here's what you need to qualify in Palm Beach County:
| Requirement | Details | |-------------|---------| | Min Credit Score | 620+ for conventional (varies by program) | | Loan To Value | Up to 97% LTV for rate & term, 80% for cash-out | | Debt To Income | 43% or lower typically | | Property Type | Primary residence, second home, or investment | | Equity Required | Varies by refinance type and program |
These requirements apply to Boca Raton and throughout Palm Beach County. Your individual situation may qualify for exceptions or special programs.
Required Documents for Boca Raton Homebuyers
When applying for mortgage refinancing florida in Boca Raton, you'll need to provide:
- Current mortgage statement
- 2 years tax returns
- 2 months bank statements
- Recent pay stubs (30 days)
- W-2 forms for past 2 years
- Homeowners insurance declaration
- Photo identification
- Property tax bill (if escrowed)
Boca Raton Mortgage Loan Timeline
Here's what to expect when getting mortgage refinancing florida in Boca Raton:
| Stage | Timeline | |-------|----------| | Pre Qualification | Same day | | Appraisal | 7-14 days | | Processing | 7-14 days | | Closing | 30-45 days total |
Timeline may vary for Boca Raton properties based on market conditions in Palm Beach County. We work efficiently to meet your deadlines.
Current Mortgage Rates in Boca Raton
Typical Rate Range: 6.25% - 7.5% APRRefinance rates vary by credit score, LTV, loan type and market conditions. Rate quote valid for limited time. Subject to approval.
Boca Raton homebuyers should contact us for current rates specific to their situation in Palm Beach County. Rates change daily based on market conditions.
Boca Raton Real Estate Market Insights
Market Overview: - Median Home Price: $$575,000 - County: Palm Beach County - Population: 97,422 - Popular Neighborhoods: East Boca, West Boca, Mizner Park, Royal Palm, Broken Sound Market Characteristics: Affluent community with luxury homes, golf communities, and high-end shopping. Strong schools and family focus.Our local expertise in Boca Raton and Palm Beach County helps you navigate the market and secure the best mortgage refinancing florida terms for your situation.
NMLS & Licensing Information
Louis Doherty NMLS #60093 | Edge Home Finance Corporation NMLS #891464
Licensed mortgage loan officer serving Boca Raton, Palm Beach County, and all of Florida. Equal Housing Opportunity Lender.
All loans subject to underwriting approval. Rates, fees, and programs subject to change. This is not a commitment to lend.