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1. Interest rates are near historic lows
Interest rates continue to be near record
historic lows. This window of opportunity
won't last long.
2. Lower your monthly payment
Lower interest rates allow for lower monthly
payments.
3. Shorten the term of your loan
With lower rates, you may be able to shorten the
term of your loan while keeping the same monthly
payment.
4. Consolidate other debt
Consolidate credit cards or even home equity loans
into one new mortgage reducing your overall monthly
payments.
5. Friendly, helpful loan officer
Okay, maybe this isn't the best reason to refinance.
However, it is important to work with a Mortgage
Planner who will review your situation to make sure
refinancing will benefit you.
6. No closing cost option
If you prefer not to pay closing cost, you can
accept a slightly higher rate in lieu of closing
cost. Contact us for all the details.
7. Drop Private Mortgage Insurance
If you have (PMI) private mortgage insurance, you
may be able to decrease it or reduce it all together
as part of refinancing.
8. Gain rate security over an Adjustable Rate or
Balloon mortgage
With fixed rate's at near record lows, now may be a
great time to switch from an adjustable rate
mortgage to a fixed rate mortgage.
9. Extra money for home improvements
Have you been wanting to make improvements to your
home? By refinancing your home, you may be
able to borrow the extra funds necessary to complete
your project.
10. Everyone is doing it!
The truth is we have refinanced thousands of
clients over the last few years. Refinancing
may or may not make sense for you. As a
professional mortgage planner we will review your
specific situation and make recommendations
accordingly.
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