HOW CAN REFINANCING IMPROVE MY PERSONAL FINANCES?

Lowering your Interest Rate is one of the most common goals home owners seek.  By reducing the interest rate of your home mortgage, you have more money each month for living expenses.

The benefit of these programs in lower initial payments is obvious, with the most common reason as anticipation of pay raises after entry level or a new employer is secured.

When combined with a lower interest rate, a shorter term can in many cases keep your payments the same or even lower while cutting years of Principle & Interest payments off the Loan.

By consolidating credit cards, auto payments or other personal debt, typically substantial monthly savings are realized.  Remodel your Home, Pool, Landscaping. It’s your equity!

The future of interest rates is an unknown. Peace of mind over the fixed payments required is the most common reason homeowners refinance into Long Term Fixed Rate Mortgages.

Many loans have mortgage insurance built into the payment.  Typically, if you put down less than 20% when you purchased, you are paying for insurance to “bridge the equity shortage”.