Refinancing your mortgage can be a great way to shorten your loan term, lower your payment, or take cash out to pay off high-interest debt or for renovations.
Years of Expertise
Our experience provides you the best team to determine the best mortgage refinance option for you. We work the numbers, provide options, and make the application process as simple as possible.
Shorten Your Term
One of the easiest ways to reduce the term (length) of your mortgage is to refinance into a shorter term loan. For example, let’s say you started 5 years ago with a 30 year mortgage. Refinancing into a 15 year term can keep your payments within a similar range, yet allow you to pay it off 10 years early.
Lower Your Payment
Refinancing can lower your monthly payment. We make it easy to see if you qualify and are here to help you meet your monthly payment goals.
Pay Off High-Interest Debt
Refinancing provides a way to access the equity you already have in your home. Instead of paying 19.99% interest on a credit card, you can leverage your mortgage to take money out and consolidate that debit into a fixed monthly payment with significantly better terms.
Every Situation is Unique
Our team is ready to help you determine what makes the most sense for you and your family. Call us today to discuss your situation.
What is a Cash-Out Refinance?
As your mortgage matures, you begin to build equity in your home. Equity is the amount of your home’s value that is already paid off. Equity grows as you pay off your mortgage AND as your home increases in value. A cash-out refinance takes advantage of the equity you’ve built and gives you cash.
What Can I Do with the Cash Out?
Refinancing with a cash-out option can accomplish your goals for home improvement, cover repair bills, or consolidate to pay off debt.
Rate & Term
The easiest way to refinance your home is with a rate-and-term refinance. Aside from the fees associated with refinancing, your current mortgage amount remains the same. Essentially, this option allows you to “trade” in your current mortgage for newer and better terms. You may decide to refinance your 30-year mortgage into a 15-year one for example. Alternatively, you may decide that with today’s lower interest rates you simply want to save money each and every month.
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