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Mortgage
Refinance
There are many great reasons to
refinance your home. With today's low cost refinance options, now
even a small reduction in your interest rate can still make sense.
Some good reasons to refinance are as follows:
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Convert a current adjustable rate
into a fixed rate mortgage.
This is good if you want something more stable and plan to stay
in your home for more than 7 years.
-
Reduce your current interest rate
to a lower fixed or
adjustable rate. One of the most popular reasons to
refinance and now with
interest only or 1% Smart Choice “Pick a Payment” loans
you can save thousands of dollars a year.
-
Cash out some of your equity for
debt consolidation, renovations or to purchase another property.
This is a great way to get rid of credit card bills, add value
to your home or put your money to work in the purchase of an
investment property for rental income and appreciation.
Remember, mortgages are tax deductible, credit card bills are
not. Plus, property appreciation has made more people wealthy
over the last couple of years than the dot.com era of the late
1990’s.
-
Remove mortgage insurance if
you've reached the 20% equity mark.
-
Combine a first and second
mortgage into one mortgage, one payment and a lower overall
payment.
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