REFINANCING YOUR HOME LOAN
Refinancing is often used to lower your interest rate. Interest Rates are currently at some of the lowest levels that the market has ever seen. If rates have dropped since you last financed your home, you may want to consider refinancing. Call Us Now to start the conversation about your current rate and what rate is out there. Other common reasons to refinance include paying off a balloon payment, converting an adjustable rate loan to a fixed rate loan or to extract cash equity in your home (cash out). A few reasons for cashing out include: home improvement, an education fund, and consolidating debt.
Another way to convert equity in your home to cash is a “home equity” loan. A “home equity” loan is an alternative to refinancing if your home loan has a very low rate compared to current interest rates or if you have a prepayment penalty on your loan.
Just imagine what you could do with an extra $100, $300 or more each and every month.
You might decide to apply the savings toward your balance and build equity faster. Or maybe you just might want to put the money in your savings account or portfolio and watch it GROW! The best thing is. you’re in control . You decide what is best for your family! Ask about the no cost refinance option and see if that would work for you!
In order to refinance you will need a current appraisal, analysis and in many cases verification of your income and assets, as well as most of the same paperwork required when you originally financed your home. Adequate property insurance and new title insurance is necessary.
- Reduce Your Interest Rate
- Cash Out Equity for Home Improvements
- Consolidate Debt
- Lower Monthly Payments