A mortgage refinance can pay off in many ways, and can achieve many different goals. You can make your monthly mortgage payments more affordable by taking advantage of lower interest rates. Refinancing at the right time can reduce your monthly payment, change from an adjustable rate into a fixed-rate loan, take cash out for a project, or pay off the loan early. Whether you need help determining if refinancing is the best option for you or need assistance implementing your goals, our team is here to help.
Lower Your Interest Rate or Term/Amortization
Refinancinge your home loan to can help you take advantage of low interest rates and reduce your monthly payment. When interest rates are lower than when you originally obtained your loan, you may have a great opportunity to decrease your interest payments. We have many options that can help.
Ready to consolidate your high-interest bills to get better control of your budget? You may be able to consolidate that debt into your mortgage and make one monthly payment. There is also the opportunity for tax advantages. Ask us how a home refinance can help you better manage your debt.
Change Mortgage Length
Refinancing may allow you to adjust the length of your mortgage to cut back on interest payments. Talk to a mortgage specialist to see if current rates make now the right time to act.
Get Cash Out of Your Home
Need cash for a home improvement project? The equity in your home is a great way to tackle any home improvement project while investing back into the total value of your home.
Is Refinancing Right for You?
The decision to refinance a home is specific to each homeowner’s situation. Some factors that contribute to making this decision include the current value of your home, the terms of your original loan, your personal financial goals, your credit score, your credit history, and your current income. The information in the above areas will help a loan specialist at Chris Doering Mortgage best determine if refinancing is a beneficial option for you.
It’s important to keep in mind the additional costs associated with refinancing, including various closing costs. Give us a call or contact us online to discuss how refinancing costs, in conjunction with your goals and potential savings, may provide a financial opportunity for you.