Refinancing is often used to lower your interest rate. If rates have dropped since you last financed your home, you may want to consider refinancing. While rates move up and down daily, we are still experiencing HISTORICALLY LOW interest rates.
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 from your home equity (cash out). Some common benefits are listed below. Engage a Mortgage Advisor to learn about ALL the benefits that are possible for your specific situation. We're happy to give you a no-pressure review so you know your options!
Benefits:
- Reduce Your Interest Rate
- Lower Your Monthly Payments
- Improve Cash Flow
- Cash Out for Home Improvements or Additions
- Consolidate High-Interest Debt
- Be Rid of Adjustable Rates or Debts with Balloon Payments
- Fund Retirement, Education, Medical Expenses or A Vacation
- Purchase Additional Property
- Start a Business
- Replenish Your Savings
- Recession-Proof Your Finances
To Refinance You'll Need to:
- Start an Application... click here to apply now
- Authorize a Credit Check - ask your Mortgage Advisor about a "soft pull" option that has no effect on your credit
- Provide Verification Documents for Assets, Income and Expenses... click here to see typical paperwork needed
- Select Your Loan Program and Terms to Finish Your Application... see loan types here
- Pay for an Appraisal While Your Loan is in Process... click here to see the general loan process
- Provide Explanations and/or Follow-up Paperwork
- Finalize Loan Terms with Your Mortgage Advisor
- Close Your Transaction and Improve Your Financial Situation