Choosing a Refinancing Program

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The number of refinance options available is truly breathtaking. We can guide you to find the refinance program that will fit your needs the best. Contact us at 9013595912 to begin the process. In order to review your choices, you can list your goals for your refinance.

Lowering Your Payments

Are achieving reduced monthly payments and an improved rate your main refinance goals? In that case, getting a low, fixed-rate loan may be a wise option for you. Maybe you are presently in a mortgage loan with a high, fixed interest rate, or a loan with which the rate of interest varies : an adjustable rate mortgage (ARM). Even as interest rates rise, a fixed rate mortgage loan will stay at the same, low interest rate, unlike an ARM. This can be especially a wise option if you aren't planning a move within the next 5 years or so. On the other hand, if you do see yourself moving in the near future, an ARM with a small initial rate could be the best way to bring down your monthly payments. Refinancing can also cause your total finance charges to be more over the life of the loan.

Refinancing to Cash Outon Your Equity

Is "cashing out" your main purpose for your refinance? Maybe you're going on a much needed vacation; you need to pay college tuition for your child; or you plan to renovate your home. So you will want to find a loan higher than the remaining balance of your present mortgage.With this goal, you will need However, if your loan interest rate is currently high and you've had it for quite a few years, you may be able to achieve your goals without an increase in your mortgage payment.

Debt Consolidation

Do you hold other debt, perhaps with higher interest, that you'd like to consolidate? If you have the home equity to make it work, paying off other debt with higher interest than the rate on your mortgage (such as home equity loans, student loans, or credit cards) means you can save possibly several hundred dollars each month.

Paying it off Faster

Do you want to build up equity more quickly, and have your mortgage paid off sooner? Consider refinancing to a short-term loan, like a 15-year mortgage. Your payments will likely be more than with your long-term mortgage loan, but in exchange, you will pay considerably less interest and will build up equity more quickly. On the other hand, if your existing longer term mortgage loan has a low remaining balance, and was closed a while ago, you may even be able to make the move without paying more each month. To help you determine your options and the many benefits of refinancing, please contact us at 9013595912. We are here for you.