Posted by Craig Strent (NMLS ID #6342) ● January 20, 2017

Lending a Hand: a Real-Life Case Study in Mortgage Planning

Case Study in Mortgage Planning

We make it a habit here at Apex to step back and ask ourselves, “Who have we helped lately?” In this case, the answer is Jeff and Rachel*, who set out to transform their ordinary abode into a dream home by way of a $200,000 renovation. Jeff and Rachel’s transaction is truly a case study in how effective mortgage planning can help people meet their financial goals, so I wanted to share it with you.

The Financing Options

Jeff and Rachel contacted us initially to help them get a Home Equity Line of Credit (HELOC) to fund their renovation. The couple wanted to improve the livability of their home as their children grew older. A HELOC would’ve given them notable exposure on their equity line, so we began the mortgage planning process, first looking at their 30-year fixed-rate mortgage to assess their current position. After determining that the current mortgage was strong, we engaged in investigative questioning and learned that the couple planned to sell their home in 10 years when their children attended college. With that new information, we determined that we could refinance their mortgage to a 10/1 ARM, provide the $200,000 toward their renovation, give Jeff and Rachel all the fixed-rate protecion they needed, and lower their rate.

Major Renovation, Minor Change to Monthly Expenses

We were able to safeguard Jeff and Rachel from exposure on their equity line while keeping them in the exact same payment each month and lowering their rate. This freed them up to continue saving for their children’s college, put them in prime position to sell in 10 years as planned, and helped them transform their property into the dream home they wanted. 

We Specialize in Finding the Right Mortgage Solution

It’s this type of mortgage planning that separates the Apex Home Loans team from others: working in collaboration with their real estate agents and financial advisors, we help our customers determine where they should be putting their money to work towards complete financial wellness.

 *customer names changed for privacy


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Please be aware: by refinancing your existing mortgage, your total finance charges may be higher over the life of the loan.

Topics: Refinancing, Homeownership, case studies in real estate, helping borrowers, mortgage planning