A change for the better
You would be surprised how refinancing can change your life! Refinancing will not only save you money, but provide you with more comfort and security — now those are good reasons why you shouldn’t wait. We’ll even tell you when it’s better to go with a Home Equity Loan instead of a regular Mortgage Loan. Sometimes it’s better, sometimes it’s not. Leave it to our loan specialists and call us today!
Ask us how to:
- Refinance an existing mortgage
Generally, it’s a good idea to consider refinancing whenever the current mortgage interest rate is more than two percentage points below your present mortgage rate. You can reduce your monthly payment and term, therein, reducing total payback over the life of the loan.
- Refinance – to receive extra cash
Did you know that when you refinance you may be able to request additional loan funds to consolidate debt, buy a new car, pay for education or do that remodeling project that you thought you couldn’t afford. You could also use the money to go on vacation.
Refinance loan options include different rate structures:
- Fixed-Rate Loans have a fixed interest rate for the life of the loan. This allows for easy budgeting because the payment is always the same.
- Adjustable-Rate Loans usually have a lower start rate than fixed mortgage loans. You will know how much the rate can adjust over the life of the loan, and the maximum amount you would have to pay in the future. If you think you will only be in the house for a few years or feel that interest rates may go down, then this may be the loan for you.
Where to start?
Try some of our online calculators to see if you should look at refinancing. They are a great starting place! Also take the time to call one of our loan specialists or your local office to learn more about rates and options!