Refinance Today and Save More for What Matters Tomorrow
As a homeowner, you may qualify for a number of benefits that can yield substantial savings when you refinance your mortgage. Refinancing may allow you to tap into some of your home’s value, helping you to make the most of your finances.
A Shorter Loan Term
When interest rates fall, homeowners have an opportunity to refinance their existing home loan for another with a significantly shorter term. A shorter loan term may mean a quicker pay-off on your home!
Reduced Monthly Payments
Reducing your interest rate with a refinance may allow you to build more equity in your home while decreasing your monthly payments.
A cash-out refinance allows you to take out a new mortgage for more than you owe, so you can take the difference. This can help with upcoming large expenses or to pay off some debt!
Eliminate Private Mortgage Insurance (PMI)
If you originally purchased your home with less than 20% down, you are likely paying for private mortgage insurance. If your home value has increased enough, a refinance may lead to an end of those extra monthly payments.
Adjust Your Loan Type
Even if you are not looking to lower your interest rate or monthly payment, you may be looking to switch your loan type from an Adjustable-Rate to a Fixed Rate, or vice versa.
Home Values are on the Rise
With housing prices on the rise nationally, you can turn some of your hard-earned home equity into cash by refinancing your existing mortgage. This kind of home loan has helped millions of homeowners finance the major life events. You might even be able to obtain better terms with your new mortgage. It’s your money, what do you want to do with it?
Finally take the dream vacation you’ve always talked about.
Help pay for college tuition, medical expense or other debts.
Pay for home improvements to boost your home’s value.