Loan Officer Profile

Michael Gayda

PrimeLending, a PlainsCapital Company

12276 San Jose Blvd Suite 747 Jacksonville, FL 32223
NMLS ID: 177621
Licensing/Registration information on this individual can be found by clicking the NMLS ID number

About Me

Navigating today's lending environment has become more complex than ever before. Regulations and guidelines are constantly changing, so finding an expert to guide you through this process is key. My team and I are excited to be that resource for you! Having helped well over 1,000 clients during the past 12+ years has allowed us to develop a 3 Point system that will make your home buying experience a great one. We combine Fantastic Communication, Industry Knowledge & Expertise, with the right Tools & Technology to deliver the right product and the right advice, for your home loan needs.
  • Employed by: PrimeLending, A PlainsCapital Company since 2012
  • Licensed in:

Recently Answered Questions

Questions See All Answers
HELP!
1

Michael's Answer

Hello, Yes, we may be able to help. There are some variables that we have to discuss, as refinancing may not always make sense. Please feel free to contact me at your earliest opportunity. Thanks, Michael Check us out on Online! Sites are in the signature below… [http://plmarketingsquare.com/img/prime/060afeaa83124859813a22cc6eab0c89/image001.png] [https://cdn.mytotus.com/Data/prime/images/Upload/6ebff044f5e7475d8d2c43b4a9d50f3a.jpg] [https://cdn.mytotus.com/data/prime/Images/Upload/e65385f44acf0d3f59956e48ffc7589bf7e28d30abdedaff56a63787839d696a.png] Michael Gayda Senior Loan Officer, CMPS NMLS: 177621 904.394.1420 (Direct) 904.813.0415 (Mobile) 866.836.0981 (Fax) 12276 San Jose Blvd. 3rd Floor, Suite 747 Jacksonville, FL 32223 [http://plmarketingsquare.com/img/prime/060afeaa83124859813a22cc6eab0c89/image004.png] mgayda@primelending.com [http://plmarketingsquare.com/img/prime/060afeaa83124859813a22cc6eab0c89/image005.png] www.michaelgayda.com [http://plmarketingsquare.com/img/prime/90

Is a home improvement loan the same as an equity loan?
1

Michael's Answer

Hello! That is a great question. There are several differences between the two, and the approach that each will follow. Primarily, the HELOC is usually a Second Mortgage, using existing equity while leaving your primary mortgage in place. A “home improvement” or Renovation Loan is usually going to replace (roll in) your existing primary mortgage, while factoring not only the existing equity, but the equity that results in considering the improved value of the home with the projected renovations factored in. There are merits to both approaches; the HELOC is something that may be best if the renovations are not too extensive and you have a lot of equity. The Renovation Mortgage (varying types) is usually preferred for larger scale renovations, especially if the existing equity is limited. I hope you find this helpful, please feel free to contact me if you would like more information! Thanks, Michael Check us out on Online! Sites are in the signature below… [http://plmarketingsquare.com/i

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Navigating today's lending environment has become more complex than ever before. Regulations and guidelines are constantly changing, so finding an expert to guide you through this process is key. My team and I are excited to be that resource for you! Having helped well over 1,000 clients during the past 12+ years has allowed us to develop a 3 Point system that will make your home buying experience a great one. We combine Fantastic Communication, Industry Knowledge & Expertise, with the right Tools & Technology to deliver the right product and the right advice, for your home loan needs.