Is refinancing right for you?

Here are some of the reasons why one may consider refinancing:

  • Refinancing to a lower interest rate to to reduce the monthly payment

  • Refinance to convert an adjustable rate mortgage (ARM) to a fixed-rate mortgage

  • Consolidating two mortgages (1st mortgage and a Heloc scheduled to adjust to a higher monthly payment)

  • Consolidating debt with high interest rates such as credit cards, personal loans, or perhaps student loans, tax liens, judgments, tax liens. Utilizing the equity in your home to payoff high interest or high payment debt

  • Refinancing to a shorter-term loan so you can pay it off and build equity faster

  • You have a short-term loan now but prefer a longer-term loan in order to reduce your monthly payments

  • You want to move from an interest-only mortgage to a principal & interest mortgage to pay down principal faster

  • You want some extra cash to purchase another property, pay off other debt or to reinvest back into your property with home improvements

  • Refinance to eliminate or reduce the Private Mortgage Insurance (PMI)

  • Refinance out of a Loan Modification due to adjust or requires a balloon payment

  • Remove a co-borrower(s) from the mortgage and the property

Benefits of refinancing

A refinance makes sense if you fit into one of the categories listed above. Refinancing could save you a considerable amount of money over the life of your loan and potentially improve your overall financial outlook. We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you.

Here’s are the basic steps of the home refinance process:

  • Complete a refinance assessment over the phone with your licensed loan professional within a matter of minutes

  • Receive loan options based on your specific goals, income criteria and loan request scenario

  • Compare a variety of mortgage rates, payments, and loan terms

  • Choose the program that best fits what you are trying to accomplish

  • Receive a customized Refinance Checklist of items needed to get approved from your designated licensed loan professional

If you’re curious about what options you may qualify for, reach out us and for your free assessment!

Call us at today at 714-444-2727 if you’d like to discuss your options