Lower Your Payments
Are your Refinance goals to lower your rate and consequently your mortgage payments? Then a low, fixed rate loan may be your best option! Perhaps you currently have a fixed-rate mortgage with a higher rate, or maybe you have an ARM — adjustable rate mortgage — with which the rate of interest varies.
Unlike the ARM, a low fixed-rate mortgage stays at a certain low rate for the term of your mortgage loan, even as interest rates rise. If you are planning to stay in your home for just five more years from today, a fixed rate loan may be the perfect fit for you!
On the other hand, if you do see yourself moving in the near future, an adjustable rate mortgage with a low initial rate could be the best way to lower your monthly payments while keeping peace of mind on your mobility.
Take Some Cash Out
Is your Refinancing goal to pull out some of your home equity for an infusion of cash? Perhaps you want to pay for home improvements, help with your child's college tuition, or even take that vacation you've always dreamed of! With this in mind, you'll want to find a loan higher than the balance remaining on your existing mortgage.
Consolidate Your Debt
Perhaps you'd like to cash out a portion of the home equity to use toward paying off other debts. If you have built up some home equity, you can use it to pay off other debt with higher interest rates than your mortgage - such as credit cards or payday loans. Based on the outstanding debt and interest rates, refinancing to consolidate debts could ultimately pay for itself!
Pay Off Debt Sooner
Do you want to build up equity more quickly, and have your mortgage paid off more quickly? You should consider refinancing with a shorter term loan, like a 15-year mortgage loan. In exchange for a larger mortgage payment, you'll be paying less interest over the life of the loan. Not to mention the accelerated rate you'll be growing your home equity!
So, which Refinancing Program is Best for You?
Call Us Today at 561-392-0040 and we will match you with the refinancing program that fits you best! Our Refinancing Experts are standing by 24/7 to take your call and answer any questions you may have!