David Hochberg Is Educating Chicago Homeowners About The Many Refinance Options Available To Them

Northbrook, Illinois -

Homeowners in Northbrook, IL, looking to refinance a mortgage can turn to the expert services offered by Chicago’s very own David Hochberg, the host of the Home Sweet Home Chicago radio show on WGN Radio.

David Hochberg also serves his local community as Vice President of Lending at Homeside Financial, a nationwide financial services company offering mortgage, home refinancing, and purchasing services. He has taken on the initiative to educate the homeowners in Chicago and nearby areas, who are looking to refinance their mortgage, about the entire refinancing process. Mr. Hochberg is letting his fellow Chicagoans know that there are several options that they can avail of to get better rates and reduce their monthly payments.

David says, “First of all, let’s understand what a refinance is. Suppose you bought a house 10 years ago. Let us assume that the house cost you $400,000 and you have already paid off $200,000 of it. Now, you can choose to continue making the monthly payments for the rest of the mortgage term at your current interest rate. However, you can also choose to refinance your mortgage at a lower interest rate, which routinely happens as federal interest rates ebb and flow. In the latter case, the principal that you currently owe will be paid off with a new mortgage. Refinancing, thus, can save you money in the long term and may also lower your monthly payments. However, it is not all sunshine and rainbows as you need to pay the closing costs for the refinancing out of pocket. At the end of the day, I do encourage you to look into the process as the savings from refinancing your mortgage could be well worth it. If you are confused about the refinancing process, give me a call and we can set up an appointment to discuss it in depth. I’ve helped thousands of Chicagoans secure the life they always imagined in the property of their dreams. I can make it work for you too. You can also check out this news article to read more about the mortgage services that I provide to first-time home buyers.”

There are several types of mortgage refinancing options. A cash-out refinance allows homeowners to get extra cash on top of repaying their original mortgage. Many homeowners choose to use this extra money for home improvement tasks or to pay other kinds of debt such as credit card dues. A cash-in refinance enables a property owner to pay off a major part of their current mortgage, get a better rate on the principle that remains, and increase the amount of equity they have in the home. A reverse mortgage is a way for retirees to use the equity they have in a property and turn it into a sort of pension that can provide for them in their old age. A reverse mortgage is due when the property owner passes away or moves out of the property.

Homeowners can also qualify for several programs from the government that can get them a better deal on their mortgage. For example, the Federal Housing Administration (FHA) helps homeowners with bad credit. Active and retired service members can turn to the VA for help which makes available many mortgage programs to ease the financial difficulties faced by those who valiantly served the country in its hour of need. The United States Department of Agriculture (USDA) also helps homeowners who live in eligible rural areas get a mortgage refinancing.

David Hochberg along with his company Team Hochberg, powered by Homeside Financial, has been originating mortgages since 2000. David is licensed to provide mortgage services across the nation. The Chicago-based mortgage services company streamlines the mortgage process with dedicated in-house support staff, underwriters, and a closing department which enables it to efficiently process and close its clients’ mortgages in a matter of days.

Readers can contact David Hochberg at the phone number (855) 563-2843. More information about his services can be found in this news article.