Which Refinancing Program is Best for You?
In the market for a mortgage loan? We can help! Call us at 407-647-4440.
What do you hope to achieve with your refinance loan?
Reducing Your Monthly Payments
If your refinance goal is now lower payments, then a low, fixed rate loan may be your best option. Even when interest rates rise, a fixed rate mortgage loan must stay at the same, low interest rate and payment, unlike an indexed ARM or even a Home Equity Loan (HELOC) that is tied to something like Prime Rate. Especially now that the new tax rules have taken away Home Equity Loan interest deductibility, your best "package" may now be a simple refinance.
Home equity has risen greatly in recent years. If you needed to take PMI or MI to buy the home which added considerably to your payment, you may now be able to refinance and drop it if you are now at 80% LTV or below!
Refinancing to Cash Out
Are you wanting to take cash out of your home equity? Maybe you're remodeling your kitchen, bath, need a roof or just want to update your home from the eighties. Or, have college tuition demands on your students horizon. Your reasons are your own. Why not choose a zero closing cost option to take full advantage of every opportunity to save. Tell us what you want and let us work up our most cost effective quote for you right now!
Consolidating Your Debt
Have your monthly payments grown over time? Remember, you have probably been building home equity rapidly in recent years. Why not put it to work by rolling those current payments into one easy to manage monthly increase in your mortgage payment.
Building Your Equity Faster
Do you plan to build up equity more quickly, and have your mortgage paid off faster? Then, you'll want to look into refinancing to a short term mortgage - such as a fifteen-year loan. Even though your mortgage payment amount will usually be more, you can save on interest; so your home equity will build up faster. On the other hand, if your existing long-term mortgage loan has a small balance remaining, and was closed a number of years ago, you may be able to make the change without paying more each month. We would love to help you reach your goals!
Curious about your refinancing options? Call us: 407-647-4440.